WIFNG Q2,2018 Forum Advocates Financial Literacy and Inclusion for Nigerian Women

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Wednesday, June 27, 2018 6.00PM / Proshare WebTV 

The Women in Finance Nigeria, as part of the drive to ensure that Women in Nigeria have access to finance and are empowered, hosted its second quarterly breakfast meeting for 2018 at the Oriental Hotel, Lagos. 

It focused on the theme “Future of Financial Inclusion: Key Considerations for Women in Finance” and brought together female professionals, business leaders and entrepreneurs in the country. 

In her opening remarks the Chairperson of the Women in Finance, Nigeria Mrs Toyin Sanni emphasized the four core objectives of the group which include; promoting  advocacy for financial inclusion for women, developing women in the financial space, capacity building for women and providing networking opportunities for women. 

Giving the keynote for the event Mrs Modupe Ladipo the Pioneer CEO of Enhancing Financial Inclusion in Nigeria (EFINA) believed it was time for women, who constitute 50% of the Nigerian population to take key decisions in the  nation’s financial market. 

She stressed that as Nigeria draws nearer to the Financial Inclusion Strategy 2020 target, it was critical for gender-specific financial products to be developed for the women, as statistics shows that 30% of Adult Nigerian women have bank accounts. 

According to her “How we can give women in Nigeria, a financial service that is as convenient as their handbag is critical”. 

Mrs Ladipo identified the following as opportunities that can be leveraged on to boost financial inclusion for women; fintech, insurance, microfinance banks, cooperatives, agency banking, credit bureaus, international financial development institutions, commercial banks(retail), financial literacy/education and regulations/policy. 

The financial expert asserted that access to finance was key to addressing poverty, and the women groups like WIFNG are well positioned to drive the advocacy alongside others to ensure that women in the country are empowered. 

Panelists at the event explored the dynamics and ways in which financial inclusion can be deepened for women in Nigeria. 

Ms Chinwe Sophia Onuorah Chairman, Women in Tech, Nigeria harped on the need for technology to be leveraged on to provide financial services to women in the rural areas across the country. This she opined will also provide opportunities for financial literacy and awareness. 

Mrs Yemisi Tayo-Aboabah, Head of Banks & Broker Dealers Africa, Standard Chartered Bank of Nigeria made a strong case for strategic financial products that targets the unbanked businesswomen in the informal sector alongside the repositioning of the agency banking framework in the country, to provide wider coverage for the women that are currently excluded financially. 

Mr Joseph Onyema the Chief Information Officer of United Capital called on companies to model products that are gender-specific, while alluding to the need for financial literacy and also the opportunities women have in leveraging cooperatives. 

Highlights of the event was the induction of new members into the WIFNG, which was coordinated by the Chairperson and other members of the executive council.

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