CBN deputy gov seeks financial inclusion for women, others

The Deputy Governor (Corporate Services) of the Central Bank of Nigeria, Ms. Emem Usoro, has called for the inclusion of women and other underserved groups in the financial ecosystem.

Usoro made this call during her presentation, titled ‘Accelerating Women’s Financial Inclusion: Unlocking Opportunities for Growth and Investment,’ at Citibank’s inaugural Women in Central Banking event held in London, United Kingdom, in commemoration of this year’s International Women’s Day.

During her presentation, Usoro reiterated the apex bank’s commitment to driving bold, data-driven policies that accelerate access to finance, drive investment, and foster a more inclusive, dynamic economy.

Addressing the forum featuring female Central Bank Deputy Governors from Kenya, Turkey, Israel, Kazakhstan, Nigeria, and the United Kingdom, Ms. Usoro expressed confidence that the bank’s strategic initiatives, under the leadership of the Governor, Olayemi Cardoso, will drive higher financial inclusion for women and other underserved groups and unlock economic value.

She added that the central bank’s efforts will fuel entrepreneurship, expand market participation, and strengthen financial resilience.

She said, “With macroeconomic stabilisation taking hold, the Central Bank is shifting focus to broader financial sector reforms, including financial inclusion—an area of particular importance to Governor Cardoso.

Whether for women-led businesses seeking capital, professionals securing their financial futures, or rural communities accessing banking for the first time, inclusion is a catalyst for sustainable growth.

“It is undeniable that when women thrive, economies prosper, and opportunities multiply.”

To mark 2025 IWD, Usoro went on to share the CBN’s targeted policies and strategies to accelerate women’s financial inclusion and reduce the gender gap in access to finance.

She said that the CBN, in collaboration with development partners, assessed women’s financial inclusion in Nigeria. Also, she said that the CBN established a Gender Desk in its Financial Inclusion Unit in response to the study’s findings, which identified key obstacles such as low trust in financial service providers and limited financial literacy. The study revealed a nine per cent gender gap in access to finance.

While noting the challenges faced by the current CBN management team upon taking office, Usoro outlined a series of critical reforms implemented to realign the CBN with its core mandate.

She also listed the launch of the Women Entrepreneurs Finance Code Commitment, championed by the Central Bank of Nigeria in collaboration with the Development Bank of Nigeria and the Bank of Industry; the launch of the Framework for Advancing Women’s Financial Inclusion in Nigeria; and the inauguration of an inter-agency Special Interventions Working Group with a priority focus on women as efforts by the bank to promote gender financial inclusion.

Usoro, therefore, urged participants to partner with financial institutions to expand credit facilities for women-owned businesses, invest in the fintech ecosystem, particularly in infrastructure that improves access to digital finance, or support capacity-building programmes that enhance women’s financial literacy and entrepreneurship.