Connect with us

National News

MTN sign $500,000 grant agreement to study women’s access to financial services

Published

on

MTN sign $500,000 grant agreement to study women’s access to financial services

MTN sign $500,000 grant agreement to study women’s access to financial services

The African Development Bank has signed a grant agreement for $500,000 with Y’ello Digital Financial Services (YDFS), a fintech subsidiary of MTN Nigeria, to be used for a study into economic, religious, and social factors hampering access to finance for women in northern Nigeria.

The research, which includes a feasibility study, women-focused design and testing, will focus on both agents and customers to provide insights into women’s use of mobile money services and will be funded through the Africa Digital Financial Inclusion Facility (ADFI). The French Treasury’s Ministry for the Economy and Finance and the French Development Agency (AFD) co-finance and partner this Facility.

A statement on Wednesday by the French Development Agencysaid: “Despite being the continent’s largest economy, 55% of rural Nigerians still lack access to financial services. The rate of mobile money adoption currently stands at 4%, with an agent ratio of 228.8 agents per 1,000 adults. Political instability and conservative cultural norms in parts of Northern Nigeria are thought to present barriers to women’s access to finance. Additionally, 80% of agents in the region are men.”

The statement quoted Director of the French Development Agency (AFD) in Nigeria, Xavier Muron to have said: “French Development Agency (AFD), through the Africa Digital Financial Inclusion Facility (ADFI), is delighted to support this project, furthering our work to financing solutions that contribute not only to the development of a competitive economy that creates jobs and wealth, but also to shared, inclusive and resilient development.”

Also Read: 2022 Commonwealth Games: Queen’s Baton visits Nigeria

On behalf of YDFS, it’s Chief Executive Officer, Usoro Usoro, said, “We are truly excited about this partnership with the African Development Bank, and the possibilities for advancing financial inclusion in Nigeria, particularly for the traditionally excluded segment of women in Northern Nigeria.”

ADFI is a pan-African initiative designed to catalyze digital financial inclusion throughout Africa with the goal of ensuring that 332 million more Africans, 60% of them women, gain access to the formal economy. Current ADFI partners are the French Development Agency (AFD); the French Treasury’s Ministry for the Economy and Finance; The Government of Luxembourg’s Ministry of Finance; the Bill and Melinda Gates Foundation; and the African Development Bank,

Y’ello Digital Financial Services is a fintech subsidiary of MTN Nigeria, Africa’s largest provider of communications services, and the operator of MoMo Agent service. YDFS is a financial service provider in agency banking and super-agent operation under the CBN Super-Agent framework and agent banking guidelines to provide amongst other services, agent network to serve financial institutions and Mobile Money operators in Nigeria.

MTN sign $500,000 grant agreement to study women’s access to financial services

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

National News

ECOWAS Reports Resilient Growth and Major Regional Achievements in 2025

Published

on

ECOWAS Reports Resilient Growth and Major Regional Achievements in 2025

By: Michael Mike

The President of Economic Community of West African States (ECOWAS), Dr. Omar Touray on Thursday said the Commiswion has recorded notable economic, social, and institutional progress in 2025, despite global uncertainties and regional security challenges.

Speaking at a meeting with development partners, Touray said the regional economy grew by 4.6 percent in 2025, up from 4.3 percent in 2024, with projections of 5.0 percent growth in 2026.

He noted that this performance reflects the implementation of structural reforms, increased fiscal discipline, and measures to strengthen key sectors such as extractive industries and trade.

Touray said the regional inflation also eased from 24.4 percent in 2024 to 16.8 percent in 2025, supported by coordinated monetary and fiscal policies.

He highlighted improvements in budget management, with the regional deficit declining to 3.1 percent of GDP in 2025, adding that the debt-to-GDP ratio fell slightly to 45.7 percent.

He noted that current account balances remained positive, led by export surpluses from Nigeria, Ghana, and Guinea.

On the political and security front, Touray said ECOWAS strengthened peacekeeping and preventive diplomacy efforts across the region. He revealed that missions in The Gambia and Guinea-Bissau assessed operational and financial implications, with recommendations for improved training, monitoring, and exit strategies.

He stated that counter-terrorism initiatives intensified following a rise in fatalities from attacks, with regional intelligence sharing and specialized training programmes expanded, adding that arms control efforts also advanced with the donation of weapons-marking machines to four member states.

On trade and economic integration, Touray said ECOWAS continued to consolidate economic integration, advancing the free trade area, customs union, and common market initiatives.

He said efforts to facilitate cross-border trade included support for women and youth entrepreneurs, the rollout of the ECOWAS National Biometric Identity Card in six countries, and the launch of digital platforms to track trade compliance. The region also participated in major trade fairs and forums, including the Intra-African Trade Fair in Algeria and the first ECOWAS Trade and Investment Forum in Lagos.

Touray noted that significant progress was made in energy, transport, and digital infrastructure, adding that clean energy programmes certified solar technicians, while broadband connectivity projects prepared the deployment of a second submarine cable.

He said ECOWAS also advanced regional road standards, aviation safety capacity, and interconnection hubs for internet access.

He said the Commission strengthened agricultural governance, climate-smart practices, and food security programs, reaching millions of beneficiaries with improved farming technologies, school feeding programmes and livestock development projects. Partnerships on climate resilience, carbon markets, and sustainable resource management were expanded.

He added that through the West Africa Health Organization (WAHO), ECOWAS enhanced epidemic preparedness and laboratory capacities, stating that humanitarian support focused on vulnerable populations, including women cured of fistula and youth employability initiatives, including programmes on gender equality, women’s empowerment, and anti-trafficking capacity building were implemented in multiple member states.

Touray said ECOWAS strengthened internal governance, financial management, and staff capacity development, including training in strategic leadership and risk management.

He revealed that the ECOWAS Court of Justice held 79 sessions and increased public outreach to improve citizen access to justice. International partnerships and diplomatic engagements with the UN, EU, World Bank, IMF, and AfDB yielded support for regional development projects across transport, agriculture, energy, and digital transformation.

He said he these achievements position ECOWAS to advance regional integration, economic growth, and stability, despite ongoing challenges such as geopolitical tensions, security threats, and the withdrawal of Burkina Faso, Mali, and Niger from the Community.

ECOWAS Reports Resilient Growth and Major Regional Achievements in 2025

Continue Reading

National News

Kadafur Swears In 27 Newly Elected Local Government Chairmen in Borno

Published

on

Kadafur Swears In 27 Newly Elected Local Government Chairmen in Borno

By: Bulama Talba

The Borno State Acting Governor, Hon. (Dr.) Umar Usman Kadafur, on Thursday swore in 27 newly elected Local Government Chairmen, charging them to embrace accountability, prudence, and people-oriented leadership at the grassroots.

The swearing-in ceremony, held at the Multi-Purpose Hall, Government House, Maiduguri, marked the formal commencement of a new tenure for the Chairmen across the state’s 27 Local Government Areas.

The oath of office and allegiance was administered by the Chief Judge of Borno State, Hon. Justice Kashim Zanna, who was represented by Justice Haruna Mshelia, in three batches.

Delivering the keynote address, Governor Babagana Umara Zulum, represented at the event, described the occasion as a “solemn transition of democratic duty,” stressing that leadership at the local level is a covenant of trust with the people, not a celebration of power.

He congratulated the Chairmen on their victory at the polls, commending the Borno State Independent Electoral Commission (BOSIEC) for conducting a peaceful, free, and fair election.

He however, cautioned that the real task begins with service delivery, noting that local governments are the engine rooms for implementing the state’s 25-Year Development Plan and 10-Year Strategic Transformation Initiative.

The Acting Governor charged the Chairmen to manage public resources prudently, avoid vanity projects, and prioritise initiatives that directly improve security, livelihoods, and the dignity of citizens.

He emphasised that prompt payment of salaries and staff welfare is non-negotiable, while discipline and productivity must be restored in local government administration.

On accountability, the Acting Governor stressed that local councils must operate with openness and transparency, encouraging citizen engagement and public scrutiny.

Alhaji Umar Kadafur also directed Chairmen to reside and work within their respective Local Government Areas, warning against absentee leadership.

The Acting Governor further called on the Chairmen to uphold the rule of law, work closely with security agencies and traditional institutions, and remain vigilant against illegal mining and deforestation, which threaten the environment and livelihoods of communities.

Kadafur tasked the Ministry for Local Government and Emirate Affairs with strict supervision of local councils and used the occasion to commend the immediate past Chairmen for their dedication and service.

Earlier, the Commissioner for Local Government and Emirate Affairs, Hon. Sugun Mai Mele, highlighted the significance of the state’s decision to grant financial autonomy to Local Governments, describing it as a bold reform that has strengthened grassroots governance.

Hon Sugun Mai Mele cautioned that financial autonomy comes with increased responsibility, noting that all expenditures must strictly follow financial regulations, procurement laws, budgetary provisions, and legislative approvals.

He urged the Chairmen to take the lead in initiating and executing impactful projects, rather than relying solely on state funded interventions.

In his vote of thanks, the Chairman of Maiduguri Metropolitan Council (MMC) and ALGON Chairman, Hon. Ali Umar Bolori, expressed gratitude to Almighty Allah and the Governor for the confidence reposed in the Chairmen.

Speaking on behalf of his colleagues, Hon. Bolori pledged that the Chairmen would serve with honesty, fairness, and dedication, and align fully with the Governor’s development agenda.

He particularly appreciated the extension of Local Government tenure from two to three years, describing it as a strategic decision that would enhance planning and delivery of sustainable development at the grassroots.

The ceremony was attended by Senator Kaka Shehu Lawan, Senator Mohammed Tahir Monguno, Hon Satomi Ahmad,APC Party Chairman, SSG, HOS, COS ,Special Advisers,STA,SSA,government officials, members of the State Executive Council, traditional rulers, security agencies, and APC Party stakeholders and Supporters among others.

Kadafur Swears In 27 Newly Elected Local Government Chairmen in Borno

Continue Reading

National News

NSCDC Dismisses Claims of Withheld Promotion Arrears, Reaffirms Commitment to Personnel Welfare

Published

on

NSCDC Dismisses Claims of Withheld Promotion Arrears, Reaffirms Commitment to Personnel Welfare

By: Michael Mike

The Nigeria Security and Civil Defence Corps (NSCDC) has refuted reports alleging that its leadership is responsible for the non-payment of promotion arrears and the diversion of funds meant for personnel welfare, describing the claims as false and misleading.

In a statement issued on Thursday by the spokesman of the Corps, Afolabi Babawale, the Corps said the allegations, which surfaced on some online platforms on January 23, were deliberately crafted to misinform the public and undermine the credibility of the organisation and its leadership under the Commandant General, Prof. Ahmed Abubakar Audi.

The NSCDC clarified that the payment of salary and promotion arrears does not fall under the control of the Corps or the Commandant General. According to the statement, such payments are handled by the Presidential Committee on Arrears, which is overseen by the Director-General of the Budget Office of the Federation and the Accountant General of the Federation.

Addressing claims that no arrears have been paid since 2022, the Corps said available records show steady progress in the settlement of outstanding payments. It noted that the current leadership inherited about five years of unpaid salary arrears upon assuming office in 2021 but successfully facilitated the clearance of arrears covering 2015 to 2019, benefiting more than 37,000 personnel nationwide.

On the status of arrears for 2020 to 2022, the NSCDC explained that relevant departments, acting on the directive of the Commandant General, had applied to the Presidential Committee on Arrears. The request, the Corps said, has already been approved and is currently awaiting final release by the Office of the Accountant General of the Federation for disbursement through the Integrated Payroll and Personnel Information System (IPPIS).

The Corps added that arrears for 2023 and 2024 are yet to receive the necessary approvals, stressing that government funds cannot be released without presidential consent and budgetary provision. It also noted that promotion examination results for 2025 were only released in December, and the process of capturing them in the budget is ongoing.

Reaffirming its commitment to transparency and staff welfare, the NSCDC said it would not be distracted by what it described as attempts at blackmail or cyberbullying. The Corps urged the public and media organisations to verify information through official channels and disregard reports capable of causing tension among personnel.

The Commandant General also appealed to officers and men of the Corps to remain calm and patient, assuring them that efforts are ongoing to ensure the eventual release and payment of all outstanding arrears in line with government procedures.

NSCDC Dismisses Claims of Withheld Promotion Arrears, Reaffirms Commitment to Personnel Welfare

Continue Reading

Trending

Verified by MonsterInsights