Cardoso: Financial Support For Women Entrepreneurs Is Top Priority

During the 30th Nigeria Economic Summit in Abuja, Yemi Cardoso, the Governor of the Central Bank of Nigeria (CBN), stated that increasing financial inclusion for women is a top priority.

In a question-and-answer session, he outlined measures the CBN will take to close the gender gap within the banking sector and empower women economically.

Addressing a question on the underrepresentation of women in finance, Mr Cardoso acknowledged the essential role women play in the Nigerian economy, noting that “women provide a very, very big and significant portion of the workforce” and contribute extensively across various sectors.

He highlighted their resilience and silent influence in advancing economic activities, particularly in Nigeria and other parts of Africa.

Mr Cardoso also referenced recent CBN initiatives aimed at strengthening financial opportunities for women.

“A week or so ago, the Central Bank of Nigeria signed a code for women entrepreneurs financing, and they are going to implement a framework that will hopefully lead to greater financial inclusion for women in the country,” he stated.

This new initiative, backed by partnerships with the Development Bank of Nigeria and the Bank of Industry, is designed to expand financial services access and improve economic opportunities for female entrepreneurs.

Responding to the audience’s emphasis on gender inclusivity within the banking sector, Mr Cardoso underscored the CBN’s dedication to fostering change from within.

“We are committed to ensuring that we encourage the banking industry… towards bridging the gender gap,” he affirmed while acknowledging that achieving meaningful transformation will take time and consistent effort.

Mr. Cardoso assured attendees that gender inclusivity would be a priority during his tenure.

“Under my watch, I will do what is necessary to ensure we can give the necessary support to women entrepreneurs,” he promised, indicating that collaboration with dedicated partners will drive progress towards gender parity in financial access and support.