Union Bank of Nigeria has partnered with Wacot Rice Limited to aid the financial inclusion drive of farmers in Kebbi State.
In a statement by the bank on Tuesday, the bank said it had partnered with Wacot Rice Limited, a rice processing company, to financially include 6,000 local farmers.
It stated that this included the youths and women in Kebbi State.
The statement said, “The Kebbi Financial Inclusion Drive which will cover four Local Government Areas Argungu, Augie, Suru, and Dandi, is a critical part of Wacot’s Argungu Outgrower Expansion Project funded by United States Agency for International Development, West Africa Trade Hub.
The financial inclusion initiative is being implemented with technical support from the National Identity Management Commission, to help the farmers acquire the relevant documentation and identification required to open bank accounts.
“Union Bank will facilitate account opening and expand its agency banking network to cover the areas while supporting its agents on ground, with digital banking solutions to enable seamless transacting and account management.”
The statement said the Chairman of Wacot and Board Chair, Union Bank, Farouk Gumel, was in Kebbi State to kick off the drive.
In the recently concluded Chartered Institute of Bankers of Nigeria, Gumel said financial commitments must also be made in equal capacity to rural-local customers.
Gumel said, “As we work towards achieving financial inclusion to reach the unbanked, we must commit the same resources and investments to rural-local customers as we have done to urban-global clients to help create the growth that will lift us all to collective prosperity.”