SIR: Recently, the Central Bank of Nigeria, unveiled its latest policy on financial inclusion, called the financial inclusion strategy. This is designed to ensure 80% Nigerians are involved in financial, insurance and banking services by 2020. Presently, statistics from the Central Bank indicates that about 36.8% adults, especially those in rural areas do not have a bank account or are excluded from other financial services. While this effort by the central bank is applauded, more is yet to be done to achieve this target.

Ibogun is in Ifo Local Government Area of Ogun State. It is home to former President Olusegun Obasanjo, as well as the engineering campus of the state university, Olabisi Onabanjo University. It is also home to estate developers and this has brought new settlers to the community. This has led to an increase in population in Ibogun as data obtained shows the population to be about 500,000. Unfortunately, most lecturers and students alike as well as indigenes whose major occupation is farming are presently part of the financially excluded adults in Nigeria. There is virtually no bank or an ATM stand in the entire Ibogun. As a result of this, farmers in the area are unlikely to save from the profit of their produce since they do not have a bank account. Residents and students alike are left to contend with low ebb performing microfinance bank in Ibogun Egbeda.

This might not be unconnected with the fact that the road in Ibogun is in its most deplorable condition. The road leading to the campus has turned to death traps. A representative of Wema Bank Branch in Ifo came to market some products in the school. Students had complained about the lack of a branch in Ibogun, or an ATM stand, and in response, the representative blamed the deplorable condition of the road, pointing out the fact that bullion vans attached to a future branch in Ibogun could easily be attacked as a result of the poor condition of the road.

There is also the need to improve the presence of the police in Ibogun as there will be the need for increased security personnel for banking operations. This was also one of the major challenges listed out by the bank representative for the establishment of a Wema Bank Branch in Ibogun. One would not easily forget the Offa bank robberies in Kwara State where residents and security personnel died in the coordinated attacks. Reports had it that if more security personnel were on ground, they would have foiled the plans of the robbers. These incessant attacks on banks further dampen the financial sector in achieving its target rate of financial inclusion in the country.

I therefore call on the incoming governor of Ogun State, Dapo Abiodun, as well as the federal government to immediately turn their attention to Ibogun, to help fix the road leading to Ibogun to aid the establishment of a bank or ATM stands to improve the economy of the community and the state, as well as make the government reach its target inclusion percentage in 2020. It is also important to note that there is an urgent need for both state and federal governments to prioritize the security of the community that would lead to the establishment of financial institutions in Ibogun which would have a good development to students, lecturers and residents of Ibogun community.

• Opeagbe Opeyemi, Olabisi Onabanjo University, Ibogun Campus.