‘How to ensure gender inclusion in financial access’

Experts have called for greater women’s inclusiveness in access to financial services across the country.

They have identified key strategies that can be adopted towards addressing systemic gender bias, stereotyping, discrimination and gender inequalities that exist in Nigeria, especially in access and use of formal financial services.

According to the experts, accelerating progress on eliminating the gender gap in access to financial services in Nigeria requires broad-based institutional reforms that put gender equality on the front burner. They expressed this at a webinar organised by the Gender Centre of Excellence at Rockefeller Philanthropy Advisors with the theme ‘Breaking Biases to Bridge the Gender Gap in Women’s Financial Inclusion in Nigeria’, which provided an opportunity to reflect on gains in women’s financial inclusion. The event was organised in collaboration with the Central Bank of Nigeria, Enhancing Financial Innovation and Access (EFInA), Lagos Business School and Women’s World Banking to mark International Women’s Day.

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Henrietta Bankole-Olusina, moderator and program director, Rockefeller Philanthropy Advisors Nigeria noted that: “Globally, it is a day to renew its commitment to work towards a fair and equitable world where both men and women can enjoy full rights and achieve their full potentials in all spheres of life.”

According to Ashley Immanuel, Chief Executive Officer, EFInA said bias is an inclination or prejudice against a person or group of persons in a way that could be considered unfair, for example favouring men/boys over women/girls.

Paul Oluikpe, head, Financial Inclusion Delivery Unit, CBN noted that the patriarchal system, which considers the role of women as appendages and subordinates to men is most often culturally entrenched and religiously reinforced thereby making men to be dominant.

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