Connect with us

National News

Bridging Financial Inclusion Gaps Key To $1trn Economy Vision – VP Shettima

Published

on

Bridging Financial Inclusion Gaps Key To $1trn Economy Vision – VP Shettima

*** Urges stakeholders to tackle inequalities, foster inclusive financial system

By: Our Reporter

The Vice President, Senator Kashim Shettima, has implored development partners and other stakeholders to bridge systemic inequalities and foster an inclusive, unbiased financial system that benefits all Nigerians irrespective of gender or geography.

In this regard, he identified some unsettling gaps yawning for serious attention, including low penetration of digital financial services among women, just as he listed some socio-economic barriers behind these inequalities including low incomes, limited education, and restricted access to financial tools like credit and insurance.

The Vice President gave the charge on Wednesday during the inaugural Development Partners Roundtable on Economic and Financial Inclusion at the Presidential Villa, Abuja.

VP Shettima who was represented by Special Adviser to the President on General Duties (Office of the Vice President), Aliyu Modibbo Umar, warned that Nigeria’s vision of building a $1 trillion economy by 2030 will remain an illusion except the private sector and development partners are fully engaged.

He stated: “We have come this far because we are continually assessing the extent of economic and financial inclusion in Nigeria. However, the results of this assessment reveal some disturbing gaps that demand our urgent attention. One such gaps is the low penetration of digital financial services among women—only 23% compared to 43% for men.

“This, as we have learned, is driven by socio-economic barriers such as low income, limited education, and restricted access to financial tools like credit and insurance. Women in the northwest and northeast are particularly disadvantaged. The task before us, then, is clear: to bridge these systemic inequalities and foster an inclusive, equitable financial system that benefits all Nigerians, regardless of gender or geography.”

Senator Shettima however expressed optimism that the inaugural roundtable will provide a fertile ground for meaningful conversation that would “pave the way for a future where every Nigerian is a significant part of the nation’s financial data.”

He continued: “This roundtable is yet another important opportunity to harness our collective potential and chart a sustainable path forward. It is designed to provide a holistic view of the obstacles impeding economic and financial inclusion in Nigeria.

“As we engage in discussions today, I invite all of us to join hands, collaborate, and align our efforts in crafting lasting solutions. Whatever we do as a government, we know it cannot materialise fully unless we work together with you—our development partners, the private sector, and all stakeholders committed to progress.”

The VP hinted at the inauguration of a Presidential Committee for the Implementation of the Aso Accord, saying it will guarantee the success of the initiative championed by President Bola Ahmed Tinubu.

“Distinguished ladies and gentlemen, to guarantee the success of the transformative initiatives championed by His Excellency, President Bola Ahmed Tinubu, I am pleased to announce the inauguration of a Presidential Committee for the Implementation of the Aso Accord.

“It is my honour to chair this Governance Committee, which will primarily consist of the esteemed signatories to the Aso Accord, reflecting our collective commitment to ensuring its success. The Committee will be backed by a dedicated secretariat housed within the Office of the Vice President,” he noted.

Noting that discussions on the state of economic and financial inclusion in Nigeria had become a matter of priority at the National Economic Council (NEC) since April of this year, VP Shettima said, “The committee will report to the NEC on a quarterly basis to ensure that the integrated framework we have established not only implements the Aso Accord effectively but also achieves its ambitious goals.

“Once again, I call on all development partners here today to collaborate with this team to ensure the successful implementation of the Aso Accord. Your support is critical to this mission. We will rely on your technical expertise and continued assistance in accelerating the implementation of specific programmes and initiatives. None of us can deliver on this task in isolation,” he added.

Earlier, the Deputy Governor of Bayelsa State, Mr Lawrence Ewhrudjakpo, who spoke on behalf of the subnationals, commended President Tinubu for giving Nigeria visionary leadership.

He said the successes being recorded by the nation in the economic and other sectors show that Nigeria is on the right track.

The Deputy Governor who represented the Bayelsa State Governor maintained that rural communities should be well accommodated in the scheme of things to enhance inclusive development.

Minister of Livestock Development, Idi Maiha, called for effective strategies to include more farmers, petty traders and others who are in poor financial stages, in the financial inclusion programme in order to achieve its goals.

Minister of State for Humanitarian Affairs, Dr Yusuf Sununu, who said the ministry plays a big role in providing financial intervention and inclusion, added that the ministry will ensure social justice, environmental protection and growth through its social intervention programmes like Conditional Cash Transfer and School Feeding.

He assured beneficiaries of accountability and transparency in the implementation of all the programmes of the ministry.

On his part, Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Zauro, said the roundtable was a defining moment for the financial inclusion strategy of the Nigerian government.

“Today’s gathering is a defining moment in our collective journey towards creating a more equitable, inclusive and prosperous Nigeria. In this hall, we have stakeholders comprising individuals and institutions who are united by a shared commitment to transforming lives through inclusive, economic and financial systems in Nigeria,” he said.

Dr Zauro added that the Aso Accord that seeks to promote financial inclusion is also a blueprint for action guided by the drive to unlock full potential and enhance socio-economic growth, leading to the building of a resilient and inclusive future for all Nigerians.

On her part, the Deputy Chairperson of the African Union Commission, Monique Nsanzabaganwa, hailed Nigeria’s reforms, which she said are feasible.

She congratulated Nigeria for implementing the Aso Accord on Financial Inclusion, just as she solicited more support for women and MSMEs.

Bridging Financial Inclusion Gaps Key To $1trn Economy Vision – VP Shettima

Continue Reading
Click to comment

Leave a Reply

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

National News

NSCDC Raises Alarm Over Fake Promotion Notice, Warns Personnel Against Scammers

Published

on

NSCDC Raises Alarm Over Fake Promotion Notice, Warns Personnel Against Scammers

…Disowns WhatsApp message seeking officers’ names, service numbers and ranks

By: Michael Mike

The Nigeria Security and Civil Defence Corps (NSCDC) has alerted its personnel to a fraudulent notice circulating on WhatsApp, warning that scammers are attempting to harvest officers’ personal and service details under the guise of the 2026 senior promotion exercise.

The Corps, in an official disclaimer on Monday, disowned the notice, which directs personnel to submit their full names, service numbers and present ranks to a designated WhatsApp number, 08031306693.

It described the purported directive as fake, stressing that neither the NSCDC management nor its National Public Relations Office issued the instruction.

The warning comes amid concerns over the growing use of unofficial communication channels by fraudsters to exploit personnel seeking career advancement, particularly during promotion exercises.

In the disclaimer, signed by the National Public Relations Officer, Assistant Commandant of Corps Babawale Afolabi, the Corps urged officers and men to disregard the message and avoid disclosing sensitive service information to unverified individuals or platforms.

It cautioned that the fraudulent request could expose personnel to identity theft, impersonation and other forms of financial or administrative fraud.

The NSCDC clarified that all official matters relating to promotions fall within the jurisdiction of the Secretary to the Civil Defence, Correctional, Fire and Immigration Services Board (CDCFIB).

It added that legitimate promotion-related information is communicated through established administrative channels of the Ministry of Interior and the Corps, rather than through unsolicited WhatsApp messages or personal telephone numbers.

The Corps, therefore, advised personnel to verify all promotion-related information through their appropriate command structures and official administrative channels before acting on any purported directive.

The disclaimer urged officers and men to remain vigilant and ensure that the warning receives wide publicity to prevent unsuspecting personnel from falling victim to the scheme.

The development highlights the vulnerability of internal administrative processes to impersonation and fraud, particularly where career progression and promotion opportunities are involved.

For security personnel, the Corps stressed, the safest approach is to treat unsolicited requests for service records and personal information with suspicion and rely exclusively on officially authorised communication channels.

NSCDC Raises Alarm Over Fake Promotion Notice, Warns Personnel Against Scammers

Continue Reading

National News

ECOWAS Project Delivers Electricity to 500,000 People in Three West African Countries

Published

on

ECOWAS Project Delivers Electricity to 500,000 People in Three West African Countries

…$225m World Bank-funded initiative connects 490 localities in The Gambia, Guinea-Bissau and Mali

…Mali seeks extension as ECOWAS holds final steering committee meeting in Abuja

By: Michael Mike

The Economic Community of West African States (ECOWAS) said its $225 million Regional Electricity Access Project has extended electricity access to nearly 500,000 people across 490 localities in The Gambia, Guinea-Bissau and Mali.

The achievement was disclosed at the 10th and final Steering Committee meeting of the ECOWAS Regional Electricity Access Project (ECOWAS-REAP), which opened in Abuja on Tuesday to review implementation progress and determine measures for ensuring the sustainability of the project.

The World Bank-financed initiative is designed to expand electricity access in underserved communities across the three countries, as part of efforts to deepen regional energy integration and improve living conditions in West Africa.

Speaking at the meeting, the Director of Energy and Mines at the ECOWAS Commission and Chairman of the Steering Committee, Arkadius Koumoin, acknowledged the significant progress recorded despite challenges that affected implementation, including the COVID-19 pandemic and institutional disruptions.

He, however, stressed the need for concrete decisions and actions to ensure responsible closure of the project, noting that its success should ultimately be measured by the number of households effectively connected to electricity.

Koumoin’s position highlights the importance of translating infrastructure investments into actual electricity access for communities, rather than measuring performance solely by completed project activities.

The Managing Director of the National Water and Electricity Company (NAWEC), The Gambia, Gallo Saidy; the representative of Guinea-Bissau’s Ministry responsible for Energy, Pedro Jeus de Oliviera; and Mali’s National Director of Energy, Oussouby Mary dit Ousmane Diarra, reaffirmed their commitment to completing outstanding project activities.

However, Mali called for an extension to enable it to complete its outstanding work, underscoring the need to address implementation gaps before the project’s final closure.

The meeting is expected to provide an opportunity for participating countries and the ECOWAS Commission to agree on the outstanding actions required to consolidate the gains of the initiative and ensure that beneficiaries continue to enjoy reliable electricity access.

Through ECOWAS-REAP, the regional bloc is advancing its energy integration agenda and the objectives of ECOWAS Vision 2050, with the broader ambition of translating regional investments into tangible improvements in the lives of West African citizens.

ECOWAS Project Delivers Electricity to 500,000 People in Three West African Countries

Continue Reading

National News

Court Dismisses El-Rufai’s N120m Rights Violation Suit Over Alleged Wiretapping

Published

on

Court Dismisses El-Rufai’s N120m Rights Violation Suit Over Alleged Wiretapping

By: Zagazola Makama

A High Court of the Federal Capital Territory (FCT) on Monday dismissed a N120 million fundamental rights enforcement suit filed by former Kaduna State Governor, Mallam Nasir El-Rufai, against the Department of State Services (DSS), the Economic and Financial Crimes Commission (EFCC), the Independent Corrupt Practices and Other Related Offences Commission (ICPC) and the Attorney General of the Federation (AGF).

The court dismissed the suit for lacking merit and awarded N200,000 each in favour of the DSS, EFCC and ICPC.
Delivering judgment, Justice Sylvanus Orji held that the invitation letters issued to El-Rufai by the EFCC and ICPC complied with constitutional requirements and did not violate his fundamental rights.

On El-Rufai’s challenge to an attempted arrest by the DSS at the Nnamdi Azikiwe International Airport, Abuja, the judge held that the service possessed powers to carry out its statutory responsibilities pursuant to the relevant legal instruments governing its operations, including the National Security Agencies Act.

The court further held that the DSS had the mandate to maintain watchlists and take appropriate action, including arresting persons of interest within the scope of its lawful powers.

Justice Orji stressed that El-Rufai could not use the court to prevent security and law enforcement agencies from performing their legally assigned duties.
On the seizure of the former governor’s international passport by the DSS, the court held that it was satisfied that the action was lawful and within the agency’s powers.

The judge also ruled that the applicant had failed to establish that the seizure was continuous, permanent and unlawful in a manner that amounted to a violation of his fundamental rights.

The suit sought N120 million in damages over alleged violations of El-Rufai’s rights in connection with the actions of the security and anti-corruption agencies.
The ruling represents a setback for the former governor in his legal challenge to the actions taken by the agencies.

Court Dismisses El-Rufai’s N120m Rights Violation Suit Over Alleged Wiretapping

Continue Reading

Trending

Verified by MonsterInsights