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

211 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

Official / Black Market Exchange Rates Today, Friday June 5, 2026

Published

on

By

12 Views

Official CBN Exchange Rates

US Dollar (USD) ₦1, 358.75

Great British Pound (GBP) ₦1,828. 06

EURO (EUR) ₦1,581. 58

SWISS FRANC (CHF) ₦1,724. 74

JAPANESE YEN (JPN) ₦8.50

CHINESE YUAN (CNY) ₦200.58

West African CFA (XOF) ₦2.40

SAUDI RIYAL (SAR) ₦361. 90

SOUTH AFRICAN RAND (ZAR) ₦83..65

Black Market Rates

US Dollar (USD) Buy ₦1,390 Sell ₦1,398

Great British Pound (GBP)Buy ₦1,580 Sell ₦1, 600

EURO (EUR) Buy ₦1, 590 Sell ₦1, 610

Canadian Dollar (CAD) Buy ₦1, 000 Sell ₦1, 100

South African Rand (ZAR)Buy ₦75 Sell ₦90

UAE Dirham Buy ₦350 Sell ₦370

Chinese Yuan Buy ₦180 Sell ₦200

Ghana Cedi (GHS) Buy ₦100 Sell ₦115

West African CFA Buy ₦2,450 Sell ₦2550

Central African CFA Buy ₦2,320 Sell 2,400

Australian Dollar Buy ₦800 Sell ₦900

Source: CBN/ Aboki Forex

Continue Reading

Business

Dangote Refinery increases processing capacity to 700,000 bpd

Speaking on the development, Vice President of oil and gas at Dangote Industries Limited, Devakumar Edwin, said that the refinery plans to expand its processing capacity to 1.4 million bpd within the next 30 months.

Published

on

By

16 Views

Dangote Petroleum Refinery & Petrochemicals has increased its crude oil processing capacity to 700,000 barrels per day (bpd), surpassing its official nameplate capacity of 650,000 bpd.

This was disclosed today in a statement issued by the Dangote Group’s Head of Corporate Communications, Anthony Chiejina.

Chiejina emphasised that the increased capacity highlights the refinery’s strong engineering design and operational efficiency.

Speaking on the development, Vice President of oil and gas at Dangote Industries Limited, Devakumar Edwin, said that the refinery plans to expand its processing capacity to 1.4 million bpd within the next 30 months.

According to him, the goal is to position the facility among the largest refineries in the world.

Edwin noted that the expansion would enhance Nigeria’s energy security, eliminate dependence on imported petroleum products, and strengthen the country’s position as a major exporter of refined products.

Continue Reading

Business

NEPZA to go live on RevOP, FTe-R

Oyedele added that a total of 31 MDAs had already gone live on the platform and 21 more agencies are to be captured next, as the government is working assiduously to achieve 100 percent financial probity before the end of the year.

Published

on

By

34 Views

Photo: Minister of Finance, Taiwo Oyedele

The Nigeria Export Processing Zones Authority (NEPZA) and 20 other Federal ministries and agencies (MDAs) have made a firm commitment to integrate and adopt the Revenue Optimisation and Assurance Platform (RevOP) and the Federal Treasury e-Receipt (FTe-R) to improve overall transparency in Federal Government financial operations.

RevOP is a digital, technology-driven system used to track, collect, reconcile, and protect financial revenues. These platforms are typically designed to identify revenue leakages, prevent fraud, automate billing, and ensure that every transaction is visible and traceable in real time.

This revelation came after a meeting between the Minister of Finance and the Chief Executive Officers of 21 affected agencies in Abuja on Tuesday.

The new RevOP was approved by the Federal Executive Council to eliminate day-to-day financial fraud and to advance the financial transparency initiative of President Bola Ahmed Tinubu’s administration.

The Minister, who was represented by the Permanent Secretary of the Ministry of Finance, Muhammed Sanusi, reminded the CEOs that the new revenue monitoring platform was created by the government to comprehensively record its revenue and expenses.

Oyedele added that a total of 31 MDAs had already gone live on the platform and 21 more agencies are to be captured next, as the government is working assiduously to achieve 100 percent financial probity before the end of the year.

Continue Reading

Trending