NANTS Empowers VSLAs with Financial Literacy Training to Boost Cashless Transactions at Grassroots Level - The National Association of Nigerian Traders NANTS

The National Association of Nigerian Traders (NANTS) held a financial literacy training session for Village Savings and Loan Associations (VSLAs). This initiative aims to strengthen their capacity to embrace cashless transactions, reducing the risks associated with handling physical cash at the grassroots level.

In the past, Community-Based Aggregators (CBAs), responsible for collecting farm produce for companies, faced challenges when dealing with unbanked farmers. During the session, several VSLA leaders expressed that opening bank accounts would greatly benefit their members. They committed to educating their communities on the importance of banking, signaling an end to the practice of storing cash at home.

The training, led by Mr. Shedrack James, a former banker and now a businessman, included a presentation by a representative from the Fintech company, Money Point. The representative encouraged farmers to utilize their services for easy access to bank account openings in rural areas.

NANTS looks forward to smoother transactions between farmers and merchants, fostering financial inclusion through enhanced financial literacy at the grassroots level.