CBN unveils e-learning platform, ‘SabiMONI’


The Central Bank of Nigeria (CBN) has unveiled an e-learning platform, ‘SabiMONI’, to promote financial literacy and deepen financial inclusion.

A fully digital national e-learning platform that provides a knowledge base for financial literacy, SabiMONI is aimed at supporting CBN’s efforts towards ramping up the number of experts that can be used to drive financial education in the country.


CBN Governor, Godwin Emefiele said the launch of the SabiMONI e-Learning platform would help provide individuals with the opportunity to be trained and to become Certified Financial Literacy Trainers (CFLT) through self-service.

“One of the key drivers of Financial Inclusion today, is no doubt financial literacy. It is a prerequisite for greater financial inclusion, which would lead to the stability of the financial system and ultimately economic growth and development.

“Research has shown that the absence of or low levels of financial literacy constitutes an impediment to financial inclusion. In other words, the pace of financial inclusion is directly related to the level of financial literacy and financial capability (National Financial Literacy Framework),” he said.

To address the financial inclusion gaps, Emefiele noted that the National Financial Inclusion Strategy 2022, identifies increasing adoption and usage of financial services in priority demographics comprising the most

vulnerable segments such as women, youth, MSMEs, rural dwellers and especially, the Northern part of the country, as well as expansion of Digital Financial Services and Platforms amongst its strategic priority areas.

“To enable us to achieve these, we must take deliberate steps to upscale financial capability through financial education programmes. The shortage of skilled and experienced persons to drive financial education remains a major hindrance.

“There is no gain in saying the fact that the SabiMONI Financial Literacy e-Learning Platform will enable us to drive financial education physically through the certified financial literacy trainers at the locations where it is most needed. It will enable us to drive digital financial literacy, thereby boosting consumer confidence in the uptake and utilisation of digital financial services.

“The SabiMONI portal will serve as a repository of information not only for learners but also for researchers in the most effective manner,” he added.

Emefiele said financial inclusion is a strong lever for bridging income inequality, combating poverty and preserving social harmony and ultimately Financial System Stability.

He implored all to make use of the great opportunity to get registered into the SabiMONI e-learning platform, take the courses, and encourage others to use the platform and learn about how to become better managers of financial resources.

The CBN Governor reminded the operators, regulators, and development partners of the importance of ensuring that the efforts impact positively financial capability, financial health, and financial inclusion, and charged the people to ensure that a pragmatic measurement and evaluation framework is put in place that would enable all to assess the impact of not only the SabiMONI but also, other financial literacy initiatives.

In her welcome remarks, Mrs Rashida J. Monguno, Director of Consumer Protection, Central Bank of Nigeria, at the event, said financial literacy remains a key driver of financial inclusion globally as financially literate consumers are always able to make better financial decisions, which is a catalyst for greater financial inclusion and stability of the financial system.

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