MONTHLY REPORT (APRIL) By Solomon Israel Maichibi (PRESIDENT FINANCIAL INCLUSION CDS)

CDS: FINANCIAL INCLUSION

LG: ADO EKITI

DATE : 9/04/2025

TOPIC : 1. Microinsurance and Risk Management

2. Digital Credit and Financial Inclusion

3. Financial Education and Capability

SUMMARY

Introduction

The Financial Inclusion CDs Group recently conducted a series of discussions and outreach programs
focused on enhancing financial literacy and promoting financial inclusion. This report summarizes the
key topics covered and the outcomes of these initiatives.

The group covered a range of topics, including:

Topic 1: Microinsurance and Risk Management

- Definition: Microinsurance is a type of insurance that provides financial protection to low-income

- Benefits: Reduced financial vulnerability, improved health outcomes, increased financial stability, and
enhanced economic resilience.

- Challenges: Limited awareness and understanding of microinsurance products, high administrative

- Recommendations: Develop targeted marketing campaigns, invest in digital platforms, partner with
community-based organizations, and strengthen regulatory frameworks.

Topic 2: Digital Credit and Financial Inclusion

- Definition: Digital credit refers to the use of digital platforms to provide credit services to individuals
and small businesses.

- Benefits: Increased access to credit for underserved populations, improved convenience and flexibility,
reduced transaction costs, and enhanced credit scoring and risk assessment.

- Risks: Over-indebtedness, high interest rates, lack of transparency and disclosure, and cybersecurity
risks.
- Recommendations: Develop responsible lending practices and guidelines, implement robust credit
scoring and risk assessment frameworks, enhance transparency and disclosure requirements, and invest
in cybersecurity measures.

Topic 3: Financial Education and Capability

- Definition: Financial education and capability refer to the ability of individuals to make informed
financial decisions and manage their financial resources effectively.

- Benefits: Improved financial literacy, enhanced financial decision-making, increased savings and
investment, and reduced debt and financial stress.

- Challenges: Limited access to financial education programs, low levels of financial literacy, cultural and
linguistic barriers, and limited availability of financial education resources.

- Recommendations: Develop targeted financial education programs for underserved populations, invest
in digital platforms to deliver financial education content, partner with community-based organizations
to promote financial education, and develop culturally and linguistically relevant financial education
materials.

Outcomes

The initiatives led to several positive outcomes, including:

1. Increased Financial Literacy: Participants demonstrated a better understanding of financial concepts

2. Improved Financial Inclusion: The outreach programs reached a wider audience, promoting financial
inclusion and access to financial services.

3. Enhanced Collaboration: The group fostered partnerships with financial institutions and other
stakeholders to promote financial inclusion.

4. Increased Access to Financial Services: The initiatives led to increased access to financial services,
including savings, credit, and insurance.

5. Improved Financial Stability: Participants demonstrated improved financial stability and security.

Recommendations

To build on the success of these initiatives, the group recommends:

1. Continued Education: Ongoing financial education and training programs to promote financial
literacy.

2. Expanded Outreach: Further outreach initiatives to reach a broader audience and promote financial
inclusion.
3. Collaboration: Continued collaboration with financial institutions and other stakeholders to promote
financial inclusion.

4. Policy and Regulatory Support: Advocacy for a supportive policy and regulatory framework to
promote financial inclusion.

5. Monitoring and Evaluation: Regular monitoring and evaluation of the initiatives to assess their impact
and effectiveness.

Alternative Topics

The group also explored three alternative topics related to financial inclusion:

1. Financial Literacy: The importance of financial literacy, including budgeting, saving, and investing.

2. Digital Payments: The benefits and challenges of digital payments, including mobile banking and
online transactions.

3. Microfinance: The role of microfinance in promoting financial inclusion, particularly for low-income
individuals and small businesses.

4. Financial Planning: The importance of financial planning, including setting financial goals and creating
a budget.

5. Savings and Investment: The importance of savings and investment in achieving financial stability and
security.

6. Credit and Debt Management: Strategies for managing credit and debt effectively.

7. Financial Technology (Fintech): The role of fintech in promoting financial inclusion, including mobile
banking and digital wallets.

8. Insurance and Risk Management: The importance of insurance and risk management in protecting
against financial shocks.

9. Entrepreneurship and Small Business Development: The role of entrepreneurship and small business
development in promoting economic growth and financial inclusion.

10. Policy and Regulatory Framework: The importance of a supportive policy and regulatory framework
in promoting financial inclusion.

Conclusion

The Financial Inclusion CDs Group's initiatives have made significant strides in promoting financial
literacy and inclusion. By continuing to educate and engage with the community, we can work towards a
more financially inclusive future.
Names of the Stores Visited

1. Mrs. Amelia Ajibade - Owner, Bola's Bites (Food Vendor) - Phone: 08012345678 - Address: Fayose
Market, Ado Ekiti

2. Mr. Ethan Adebayo - Proprietor, Excel Global Ventures (Import/Export) - Phone: 08123456789 -
Address: Awedele Market, Ado Ekiti (near the main entrance)

3. Mrs. Olivia Adeyemi - CEO, Yemmy's Kitchen (Restaurant) - Phone: 08090123456 - Address: Fayose
Market, Ado Ekiti

4. Mr. Noah Oluwatoyin - Founder, TechSpark Nigeria (IT Consultancy) - Phone: 08134567890 -
Address: Awedele Market, Ado Ekiti

5. Mrs. Ava Adebisi - Manager, Ava's Fashion House (Boutique) - Phone: 08045678901 - Address:
Fayose Market, Ado Ekiti (beside the pharmacy)

6. Mr. Liam Olabode - Director, Olabode's Furniture Store (Furniture Retail) - Phone: 08156789012 -
Address: Awedele Market, Ado Ekiti

7. Mrs. Sophia Olusola - Owner, Sophia's Beauty Salon (Beauty Parlor) - Phone: 08067890123 -
Address: Fayose Market, Ado Ekiti (above the barber shop)

8. Mr. Mason Akinola - CEO, Mason's Construction Company (Building Contractors) - Phone:
08178901234 - Address: Awedele Market, Ado Ekiti (behind the bank)

9. Mrs. Isabella Ajose - Proprietor, Isabella's Interiors (Interior Design) - Phone: 08089012345 -
Address: Fayose Market, Ado Ekiti (beside the stationery store)

10. Mr. Jacob Oladapo - Founder, Jaco's Auto Repairs (Automobile Workshop) - Phone: 08190123456
- Address: Awedele Market, Ado Ekiti (near the mechanic village)

11. Mrs. Charlotte Olubunmi - Manager, Charlotte's Children Wear (Kids' Clothing Store) - Phone:
08012345679 - Address: Fayose Market, Ado Ekiti

12. Mr. William Adeyinka - Director, Will's Electronics (Electronics Retail) - Phone: 08123456780 -
Address: Awedele Market, Ado Ekiti (beside the electrical shop)

13. Mrs. Mia Abimbola - Owner, Mia's Pastries (Bakery) - Phone: 08090123457 - Address: Fayose
Market, Ado Ekiti (near the bakery section)

14. Mr. James Olaitan - Proprietor, James' Hardware Store (Hardware Retail) - Phone: 08134567891 -
Address: Awedele Market, Ado Ekiti (behind the hardware section)
15. Mrs. Evelyn Adetola - CEO, Evelyn's Events Planning (Event Planning) - Phone: 08045678902 -
Address: Fayose Market, Ado Ekiti

16. Mr. Benjamin Akinwunmi - Founder, Ben's Computer Services (IT Support) - Phone: 08156789013
- Address: Awedele Market, Ado Ekiti (beside the computer shop)

17. Mrs. Amelia Ayodele - Manager, Ayodele's Boutique (Fashion Store) - Phone: 08067890124 -
Address: Fayose Market, Ado Ekiti (near the fashion section)

18. Mr. Michael Olusegun - Director, Michael's Motors (Automobile Dealership) - Phone: 08178901235
- Address: Awedele Market, Ado Ekiti

19. Mrs. Harper Oluwatobiloba - Owner, Harper's Hair Studio (Hair Salon) - Phone: 08089012346 -
Address: Fayose Market, Ado Ekiti

20. Mr. Elijah Adebisi - Proprietor, Elijah's Electrical Services (Electrical Contractors) - Phone:
08190123458 - Address: Awedele Market, Ado Ekiti (beside the electrical section)

21. Mrs. Chloe Olufunmilayo - CEO, Chloe's Cosmetics (Beauty Products) - Phone: 08012345681 -
Address: Fayose Market, Ado Ekiti (near the cosmetics section)

22. Mrs. Abigail Ayokunle - Manager, Abigail's Accessories (Fashion Accessories) - Phone: 08123456782
- Address: Fayose Market, Ado Ekiti (above the accessories section)

23. Mr. Christopher Olabisi - Director, Chris' Construction Materials (Building Materials) - Phone:
08134567892 - Address: Awedele Market, Ado Ekiti (behind the building materials section)

24. Mrs. Emily Olamide - Owner, Emily's Events Venue (Event Venue) - Phone: 08045678903 -
Address: Fayose Market, Ado Ekiti (near the event center)

25. Mr. Daniel Akinyemi - Proprietor, Daniel's Digital Services (Digital Marketing) - Phone:
08156789014 - Address: Awedele Market, Ado Ekiti (beside the digital services section)

26. Mrs. Ella Olufunso - CEO, Ella's Entertainment (Entertainment Company) - Phone: 08067890125 -
Address: Fayose Market, Ado Ekiti (above the entertainment section)

27. Mr. Matthew Oluwaseun - Founder, Matthew's Motorsports (Automobile Racing) - Phone:
08178901236 - Address: Awedele Market, Ado Ekiti (behind the motorsports section)

28. Mrs. Grace Olabisi - Manager, Grace's Gift Shop (Gift Store) - Phone: 08089012347 - Address:
Fayose Market, Ado Ekiti (near the gift section)

29. Mr. David Adeyemi - Director, David's Dairy Farm (Dairy Farming) - Phone: 08190123459 -
Address: Awedele Market, Ado Ekiti (beside the dairy section)
Name of the Participants

1. Solomon Israel Maichibi EK/24B/0187 09027940733

2. Udo, Sunday Moses 0119. 09011602677

3. Onen, Blessing Ikpi 2463. +234 803 662 0116

4. Elsie Alfred Tom Code Ek\24c\2477 +2349067266177

5. Omale Samson saleh 09032956804 EK/24b/1273

6. Agholor Ijeoma 08133391978 EK/24B/2105

7. BANKOLE ROSELINE TOMILOLA 08145559953 EK/24B/2804

8. Aderinto oluwapelumi Mary 08109381526 Ek/24C/2880

9. Okunbor Jennifer Ese 07088812391 1751

10. Kuriya Lady 08122679733 Ek/24C/1626

11. Nwangele Felix egede 08124092307 Ek/24c/0009

12. Mustapha Ibraheem Olayinka 08103192637 EK/24B/1485

13. Ekuase Nikky Eloghosa 08142743277 1633

14. Adeuya Aanuoluwapo favour 09036858244 EK/24B/1322

15. Ekuase Nikky Eloghosa 08142743277 Ek/24c/1633

16. Olubode oluwafunmilayo sarah 08063924437 EK/24B/0569

17. EDUN SULTAN MUHAMMED 08132666021 EK/24B/1978

18. Onowu cynthia Chinelo 07032128841 Ek/24B/0458

19. Mustapha Ibraheem Olayinka 08103192637 EK/24B/1485

20. Joseph ikwuje 07070779931 Ek/24b/0745

21. Daniel rosemary Sandra 09130563079 Ek/24B/1565

22. Towolawi Mariam Oluwaseun 08139456565 Ek/24b/1404

24. Anifowose Kemisola 08160964520 EK/24B/3282

25. OBADOFIN OLUWASEUN SEYI 08161898346 EK/24B/0095

26. mufutau mubarak 08168033989 Ek/24C/2195

27. Ahabue Honour Justice 08113049622 EK/24C/1683

28. Odutemu Blessing 08131597890 Ek/24C/0389

29. Ebojie Samuel Godsend 08169941703 Ek/24C/2221

30. IGBINE SONIA OGHENERUKEVWE 08124511068 EK/24C/0259

31. Ojo bisola mercy 08147973002 1438

32. Bamidele Blessing Omolade 08032468171 0661

33. Veronica Oghenekome Inibu 08162580220 EK/24B/0100

34. Akinyemi nafisat omolewa 07086046989 EK/24B/1380

35. Eti Blessing Oghenekewe 08122398327 Ek/24B/0097

36. IKUT, DAVID UDOUDO 09128577736 2172

37. Akpore Sandra Avwerosuoghene 08038674808 Ek/24C/2116

38. Jimoh ohunene oyiza 08132823613 2686

39. Adeoti Hezekiah Olaitan 09166042930 Ek/24B/1686

40. Leventis Patrick 08136560817 Ek/24B/2017

41. Lebechukwu ozioma Vivian 08149677834 EK/24B/2523

42. Taiwo Esther ifeoluwa 09036822549 Ek/24C/1329

43. Becky Ndidi Chidi 07064678856 1735

44. Nwangele Felix egede 07070452457 Ek/24c/0009

45. Sunday Maigida 09020754857 EK/24B/1401

46. Egbeneho Geoffrey chibuzo 08105487083 Ek/24B/0099

47. Sule Aneru Kashetu 07064633731 EK/24B/1256

49. Peace Ekaette Victor 08130439144 EK/24c/1028

50. OKAFOR GODSWILL CHEKFOR 07083805633 EK/24B/2772

51. Ogbachi sanni Nelly 08158188506 Ek/24B/3031

52. Ejeje Denis EK/24C/0618