Union bank

Union Bank partners with WACOT to drive financial inclusion

By Rosemary Iwuala

Union Bank has partnered with WACOT Rice Limited, a rice processing company, to financially include 6,000 local smallholder farmers in Kebbi State.

The Kebbi Financial Inclusion Campaign (KFID), which will cover four local government areas – Argungu, Augie, Suru and Dandi – is a core component of WACOT’s Argungu Subcontractor Expansion Project funded by the United States Agency for International Development (USAID) West Africa Trade Center. The program is intended to address the crippling financial inclusion deficit within rural communities in Kebbi.

In a statement, Union Bank noted that the financial inclusion initiative is being implemented with technical support from the National Identity Management Commission (NIMC), to help farmers acquire documentation and identification. needed to open bank accounts.

In carrying out this project, Union Bank will facilitate account opening while expanding its network of banking agents to cover the areas that have been mapped. It will also support its field agents with digital banking solutions to enable seamless transactions and account management.

Farouk Gumel, Chairman of WACOT and Chairman of the Board of Union Bank, was on hand in Kebbi State to launch the campaign and visited Kebbi State Governor Abubakar Atiku Bagudu to discuss expanding the program statewide.

Speaking at a recently concluded Chartered Institute of Bankers of Nigeria (CIBN) conference, Gumel said: “As we work towards achieving financial inclusion to reach the unbanked, we must engage the same resources and investments for rural and local customers as we have to global urban customers to help create the growth that will lead us all to collective prosperity.