The Federal Government, states and the organised private sector on Thursday signed an accord for economic and financial inclusion.
This formed “part of efforts to actualise delivery of financial services at affordable costs to all Nigerians, including those at disadvantaged and low-income segments of society,” the Presidency announced in a statement signed by the Vice President, Kashim Shettima’s Spokesperson, Stanley Nkwocha.
The statement is titled ‘FG, states, others sign accord for economic, financial inclusion.’
Representatives of parties signed the Aso Accord during a workshop organised by the Office of the Technical Advisor to the President on Financial Inclusion (Office of the Vice President) at the State House Conference Centre, Abuja.
Signing on behalf of the FG were Vice President Kashim Shettima, Minister of Finance and Coordinating Minister of the Economy Mr. Wale Edun, and Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso.
The Chairman, Nigeria Governors Forum, Governor AbdulRahman AbdulRazaq of Kwara State, signed the accord on behalf of the states, while the Managing Director/CEO of Sterling Bank Plc., Mr. Abubakar Suleiman signed on behalf of the organised private sector.
Shettima, who declared the workshop open, demanded a renewed commitment from state governors and other key players in the nation’s economic and financial inclusion space to forge a more inclusive and prosperous future for all Nigerians.
He argued that while President Bola Tinubu’s commitment to inclusive economic growth for sustainable development remains definite, “at the core of Mr. President’s economic recovery strategy lies a multifaceted approach aimed at rescuing the economy through various means.”
These means, the VP explained, include “job creation, ensuring food security, eradicating extreme poverty, and, notably, facilitating access to capital.”
He pointed out that these “form the foundation upon which our nation’s prosperity rests,” adding, “They also demonstrate our resolve to reinvent a system where economic empowerment is not just a dream but a tangible reality for all.”
Shettima noted that Thursday’s workshop stemmed from the stark reality that Nigeria cannot afford to maintain the status quo. He also expressed confidence that the depth of expertise within the reach of participants is enough to power their grand ideas for financial inclusion.
“From the tireless efforts of the present and past Governors of the Central Bank of Nigeria to the unwavering dedication of the Federal Ministry of Finance, each of you has played an indispensable role in championing this noble cause over the years.
“I am proud to announce that part of our agenda today involves signing the Aso Accord for Economic and Financial Inclusion.
“This accord will symbolise a renewed and active commitment from all leaders in the economic and financial inclusion space, affirming our collective resolve to forge a more inclusive and prosperous future for every Nigerian,” said the VP.
Earlier, the Deputy Chief of Staff to the President (Office of The Vice President), Senator Hassan Hadejia, said Tinubu expects the Accord to integrate equality and accessibility of financial services to all Nigerians.
He urged stakeholders to leave no one behind as they adopt new strategies and models of meeting set targets.
In his goodwill message, the 14th Emir of Kano and former CBN Governor, Sanusi Lamido Sanusi, emphasised the need to integrate financial literacy into the educational curriculum of Nigerian schools.
The former CBN Chief reasoned that a direct correlation exists between financial exclusion and the wave of insecurity and poverty levels, among other vices in the country.
On his part, the Governor of Ondo State, Mr. Lucky Aiyedatiwa, outlined some of the efforts made by the Ondo State government to boost financial inclusion in the state. This includes the work done by the state Entrepreneurship Agency in rural areas to expand financial services to small businesses and individuals.
Meanwhile, the Minister of Finance and Coordinating Minister of the Economy, Wale Edun, commended the support of stakeholders and the critical role played by the CBN in ensuring that the 100 per cent target is reached in the shortest possible time. He also pledged the support of his ministry to meet the targets set by actors.
The representative of the CBN Governor, Dr. Clement Buari, who is the bank’s Director of Strategy Management, said the regulator was doing a lot to accelerate financial inclusion across the country, particularly in underserved communities, insisting that it is a moral and pragmatic obligation for the CBN to take citizens out of the prison of deprivation.
He pledged that the CBN will continue working collaboratively with other stakeholders to accelerate the process of bringing as many individuals and businesses into financial institutions.
Also present at the event were the Minister of Budget and Economic Planning, Sen. Abubakar Bagudu; Minister of Women Affairs, Uju Kennedy-Ohanenye; Deputy Governor of Borno State, Umar Kadafur; Deputy Governor of Kebbi State, Abubakar Tafida and heads of government agencies.
