Financial Inclusion is becoming very important in the financial system because of its obvious advantages as a stimulus to economic growth and stability. Underpinning the fact that financial inclusion is regarded now as panacea for poverty alleviation in the developing countries. To this end, the CBN has been on the driver’s seat for the introduction, projections and the success of the scheme in Nigeria. The aim of this paper is to examine lucidly and illustrate different strategies adopted by the CBN in particular and other governmental financial agencies in stimulating financial inclusion; the extent of the success of the scheme, its positive impact in the economy and the challenges facing the full realization of the objectives of financial inclusion in Nigeria.