Nigeria: CBN urges banks to improve women's access to finance

Sep 25, 2014

The Central Bank of Nigeria (CBN) has urged banks to develop their financial services offering to women.

The Central Bank of Nigeria (CBN) has urged banks to develop their financial services offering to women.

In particular, Nigerian banks were advised to increase access to finance by women to 15 per cent annually, This Day reports.

Deputy Governor Sarah Alade made this plea at the second annual seminar on gender economic inclusion in the Nigerian financial services industry, organised by the Chartered Institute of Bankers of Nigeria.

She advised banks to promote
a
gender inclusive culture that would increase income and improve the standard of living of women in the financial sector,
before
urging the Bankers' Committee to strive to reach a goal of 40 per cent female representation at the management and board levels.

The CBN has already taken steps to increase the number of its female employees, with 49 females recruited, representing 24 per cent out of 208 total personnel in 2012.

This call from the CBN comes a week after Access Bank Plc announced it partnered with the International Finance Corporation (IFC) on capacity development for Nigerian female entrepreneurs through business education.

Fatou Giwa of the IFC
said in a press release that "Access Bank Plc is committed to women empowerment and is uniquely positioned as the bank of choice for women, offering innovative women-focused products and services."ADNFCR-2976-ID-801750545-ADNFCR