CBN launched new initiatives at the International Financial Inclusion Conference in Lagos to drive a $1 trillion economy by 2030, with a focus on empowering women entrepreneurs, displaced persons, and underserved communities.
At the second International Financial Inclusion Conference in Lagos, the Central Bank of Nigeria (CBN) introduced three ambitious initiatives aimed at fostering a more inclusive economy and driving Nigeria towards its goal of becoming a $1 trillion economy by 2030.
The event, held under the theme “Inclusive Growth: Harnessing Inclusion for Economic Development,” highlighted the bank’s commitment to tackling key barriers to financial access.
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Firstly, the Women Entrepreneurs Finance Code (We-Fi Code) aims to improve financial access for women-owned Micro, Small, and Medium Enterprises (MSMEs).
This platform is designed to transform the way these businesses are financed, enabling women entrepreneurs to thrive.
Secondly, the Women Financial Inclusion Dashboard provides policymakers with the tools to identify gender disparities in financial services and prioritise effective solutions.
Finally, the Roadmap for the Financial Inclusion of Forcibly Displaced Persons (FDPs) seeks to support vulnerable groups by ensuring they have access to financial services and the resources needed for economic independence.
In his speech, CBN Governor Olayemi Cardoso, emphasised that financial inclusion is crucial to Nigeria’s economic future.
By improving access to financial services, he believes the country can reduce poverty, stimulate economic growth, and empower small businesses, particularly those led by women and youth.
Furthermore, Governor Babajide Sanwo-Olu stressed the importance of collaboration across all sectors to build a more inclusive economy where no one would leave behind, with Deputy Governor Obafemi Hamzat representing him.
Through these initiatives, Nigeria is making significant strides towards creating equal opportunities for all.
