Connect with us

Business

Financial Inclusion: FG Engages ICAN, CIBN and four other Professional Bodies to Train 10 million Nigerians

Shettima noted that the nation “cannot build a one-trillion-dollar economy on weak skills, fragmented standards, or disconnected professional ecosystems.

Published

on

201 Views

• VP Shettima

The Federal Government, through the Office of the Vice President, has launched a nationwide training program to educate 10 million Nigerians on financial inclusion and literacy.

The training being implemented through the Presidential Committee on Economic & Financial Inclusion (PreCEFI), chaired by Vice President Kashim Shettima, is designed to equip Nigerians, particularly women and youths, with essential financial skills, investment knowledge, and digital competencies for sustainable wealth creation.

The Office of the Vice President, through the PreCEFI, on Monday, signed the Memorandum of Understanding (MOU) with the Institute of Chartered Accountants of Nigeria (ICAN); Chartered Institute of Bankers of Nigeria (CIBN); Chartered Institute of Stockbrokers (CIS); National Institute of Credit Administration (NICA); Chartered Risk Management Institute (CRMI) and Nigeria Institute of Innovation and Entrepreneurship (NIIE.

They are to jointly design training programmes, certification pathways, digital skills initiatives, and mentorship platforms that would strengthen Nigeria’s financial and enterprise workforce.

Vice President Shettima, commented: “The training is a strategic national investment in capacity as infrastructure which is the human, institutional, and ethical foundations upon which inclusive growth must rest.

Shettima noted that the Aso Accord on Economic and Financial Inclusion, which the PreCEFI is mandated to implement, recognises the fact that “financial inclusion is not achieved by access alone, but by competence, trust, and capability.”

Shettima noted that the nation “cannot build a one-trillion-dollar economy on weak skills, fragmented standards, or disconnected professional ecosystems.

VP Shettima pointed out that while capacity building is financial inclusion, “without accountants who understand MSME formalisation, credit administrators who can assess risk beyond collateral, bankers who embed consumer protection, risk professionals who anticipate digital threats, and innovators who translate ideas into enterprises, inclusion remains a slogan rather than a system.”

Maintaining that the training programme must prioritise young Nigerians and women, the VP said,

“Importantly, this collaboration prioritises women and youth inclusion and digital transformation, recognising that Nigeria’s demographic dividend will only materialise if young people are equipped with relevant skills and ethical grounding for a fast-evolving digital economy.”

He charged the PreCEFI and the professional bodies not to treat the MoU as a mere document, but as a living platform for execution.

Earlier, the President of the Institute of Chartered Accountants of Nigeria (ICAN), Mallam Haruna Nma Yahaya, applauded the administration of President Bola Ahmed Tinubu for its bold economic reforms that has culminated in the flag off of the financial inclusion free training programme for 10 million women and youths in Nigeria.

He said the decision to embark on the project was prompted by visible improvements in the economy as a result of the gains of the Federal Government’s policy reforms.

Yahaya assured the Vice President of their professional support in the realisation of set objectives, describing their involvement in the project as an institutional honour.

The CEO of WAWU Africa – technical partners in the programme, Mr Emmanuel Lennox, assured of the company’s readiness to deliver on the project, particularly in providing the digital platform and overall enabling environment for its success.

The Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Abubakar Zauro, emphasised why the training of 10 million Nigerians on financial inclusion had become necessary.

“Exclusion is not only by lack of access, but by limited skills, weak institutional capacity, and insufficient professional support.

Consequently, financial inclusion is not achieved by infrastructure alone; it is achieved when people and institutions are equipped to use that infrastructure responsibly, productively, and sustainably,” he said

The high point of the event was the signing of the MoU for the capacity building programme by the Federal Government and the six professional bodies.

Continue Reading
Click to comment

Leave a Reply

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

Business

BUA Chairman Rabiu shares South Africa visa entry denial experience at Africa CEO Forum

Rabiu said the experience highlighted the difficulties Africans still face when travelling within the continent despite ongoing talks about African integration and economic cooperation.

Published

on

By

58 Views

The founder and Chairman of BUA Group, Abdul Samad Rabiu, has recounted how he was denied entry into South Africa after his visa expired a day before his trip, while European travellers were reportedly allowed into the country without visas.

Rabiu shared the experience on Thursday while speaking on “Africa at Scale: Capital, Policy and the Architecture of Growth” at the ongoing Africa CEO Forum in Kigali, Rwanda.

He said that the incident occurred in February 2025 when he travelled from Lagos to Cape Town for the Mining Indaba conference.

He said that immigration officials stopped him on arrival after discovering that his visa had expired the previous day.

Rabiu explained that he and his team spent about four hours at the airport before he was eventually returned to Lagos.

“I take full responsibility because my visa had expired and my crew failed to notice it before the trip,” he said.

However, the businessman said that he became concerned after noticing that passengers arriving on multiple flights from Europe were allowed into South Africa without visas while he, as an African, was denied entry.

“While we were waiting at the immigration desk, there were about three international flights from Europe. Most of the passengers were Europeans, and they all entered Cape Town without visas,” he said.

Rabiu said the experience highlighted the difficulties Africans still face when travelling within the continent despite ongoing talks about African integration and economic cooperation.

“I did not have a problem with being returned because I had no valid visa. My issue was being an African in Africa and being denied entry, while foreigners from other continents were allowed in freely without visas,” he said.

He called for reforms in visa and immigration policies across the continent, stressing that Africa cannot achieve meaningful economic integration while Africans continue to face barriers moving within African countries.

Continue Reading

Business

At Africa CEO Forum, President Tinubu Highlights “Partnerships That Moves Africa Forward”

“With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.

Published

on

By

59 Views

President Bola Ahmed Tinubu during a panel session at the ongoing Africa CEO Forum, called for “Partnership that can move Africa forward.”

He advocated an “Africa First” approach to development, insisting that African resources should primarily benefit the continent through local processing and manufacturing.

“We don’t want scavengers and extractors. We want partners who process and manufacture locally,” said President Tinubu.

He said that his administration’s policies were positioning Nigeria as an open and competitive destination for investment.

“In Nigeria, we’ve attracted nearly $20 billion in direct investment this year because we are efficient, transparent, and open for business,” President Tinubu said.

President Tinubu attributed the inflow to reforms aimed at improving transparency, efficiency, and investor confidence in the country.

He said that Nigeria would no longer permit the export of raw minerals without local value addition, noting that the country possesses the capacity to manufacture products such as electric vehicle batteries from its mineral resources.

He said: “With our metals, we can produce batteries for cars. The private sector brings capital and expertise, but government must de-risk and create the enabling environment. That partnership is how Africa moves forward”.

Continue Reading

Business

Obi Meets UK Business Leaders, Advocates Stronger Support for MSMEs

Published

on

123 Views

Presidential hopeful of the National Democratic Congress (NDC), Mr. Peter Obi, has reiterated the critical role of micro, small, and medium-sized enterprises (MSMEs) in driving Nigeria’s economic growth and reducing unemployment.

Obi made the remarks on Tuesday following a series of meetings in London with stakeholders in British politics and the business community, including Jonathan Marland, Chairman of the Commonwealth Enterprise and Investment Council (CWEIC).

According to Obi, discussions with Lord Marland focused on prospective trade opportunities, economic advancement, and strategies for promoting small businesses across Nigeria.

Drawing comparisons with rapidly developing economies such as China, Indonesia, and Vietnam, Obi stressed that sustainable economic growth and job creation can only be achieved through deliberate support for MSMEs.

The former Anambra State governor maintained that small businesses remain the backbone of the economy and called for stronger policies aimed at boosting development and creating employment opportunities, particularly in the agriculture and manufacturing sectors.

Continue Reading

Trending