NATIONAL FINANCIAL LITERACY FRAMEWORK

What Is This Policy?

The National Financial Literacy Framework (NFLF) is Nigeria's comprehensive blueprint for developing and implementing financial literacy programmes across all sectors of society — equipping Nigerians with the knowledge, skills, and confidence to make informed financial decisions and participate fully in the formal financial system.

Who Does It Target?

Youth & Students: Primary and secondary school students through curriculum integration Adults & Working Population: Employees in public and private sectors, informal workers, and MSMEs Rural & Underserved Populations: Unbanked and underbanked Nigerians, especially in rural and Northern regions Women: Gender-specific financial literacy programmes addressing barriers to women's financial inclusion Elderly & Low-Income: Groups vulnerable to financial exploitation and poor financial decision-making

What Does It Aim to Achieve?

Promote financial education and literacy among all Nigerians Enhance consumer protection by improving Nigerians' awareness of their rights and obligations Support the achievement of NFIS financial inclusion targets by driving informed demand for financial services Develop a sustainable, stable financial system through financially literate consumers who maintain long-term confidence in financial markets

Key Features

Multi-Stakeholder Implementation: Coordinated by CBN's Consumer Protection Department with Working Groups spanning banks, fintechs, government agencies, NGOs, and faith-based organisations School Curriculum Integration: Financial literacy curriculum developed for primary and secondary schools in collaboration with education regulators SabiMONI E-Learning Platform: CBN's fully digital national financial literacy platform — enables self-service learning and training of Certified Financial Literacy Trainers (CFLTs) Segment-Specific Programmes: Tailored literacy activities for MSMEs, youth, women, rural communities, and public/private sector employees Mass Sensitisation Campaigns: Workshops and media campaigns across Nigeria's 6 geopolitical zones in partnership with state governments Consumer Education Pillars: Market Conduct, Dispute Resolution, and Consumer Education — all critical to the NFIS consumer protection framework

Current Status

Rollout Stage: Active — aligned with NFIS 3.0 (2022); SabiMONI platform launched May 2023 Implementing Body: CBN Consumer Protection Department, supervised by the Financial Inclusion Steering Committee (FISC) Coverage: National; campaigns conducted in all 6 geopolitical zones covering 12+ states annually Financial Literacy Rate: Currently estimated at 64.1% penetration — significant gaps remain in rural and Northern Nigeria Funding: CBN institutional funding, FITC/FISC working group budgets, and state government co-funding

How to Access

Individuals: Access SabiMONI at sabimoni.gov.ng to enrol in free financial literacy courses at own pace Schools: Contact CBN Consumer Protection Department to request financial literacy curriculum resources Organisations: Partner with CBN working groups to run financial literacy programmes for employees or communities Financial Literacy Trainers: Complete CFLT certification via SabiMONI to become an accredited financial literacy trainer Portal: sabimoni.gov.ng | cbn.gov.ng/FinInc/FinLit

Official Resources

Website: cbn.gov.ng/FinInc/FinLit | sabimoni.gov.ng Contact: Consumer Protection Department, Central Bank of Nigeria, Abuja | [email protected] Summary prepared using the Policy Summary Template | Source: CBN, NFLF 2015, SabiMONI Launch 2023 | February 2026

Legal Framework

The National Financial Literacy Framework operates under the Central Bank of Nigeria Act 2007, the Securities and Exchange Commission Act (now Investments and Securities Act 2024), and the National Insurance Commission Act. It aligns with the OECD/INFE Core Competencies Framework on Financial Literacy, the National Financial Inclusion Strategy, and the G20 High-Level Principles on Financial Consumer Protection. The Consumer Protection Council Act and the Federal Competition and Consumer Protection Act 2018 provide the consumer rights context.