The Federal Government, states, and the organized private sector signed an agreement on Thursday for economic and financial inclusion.
The Presidency announced in a statement signed by the Vice President, Kashim Shettima’s Spokesperson, Stanley Nkwocha, that this is part of efforts to provide financial services at affordable costs to all Nigerians, including those at disadvantaged and low-income segments of society.
The statement is titled ‘FG, states, others sign accord for economic, financial inclusion.’
Representatives of parties signed the Aso Accord during a workshop organized 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 organized private sector.
Shettima opened the workshop and requested renewed commitment from state governors and other key players in the nation’s economic and financial inclusion space to work towards 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.”
The VP explained that these means 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 symbolize 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 encouraged people involved to make sure nobody is left out as they start using new strategies and ways of reaching specific goals.
The 14th Emir of Kano and former CBN Governor, Sanusi Lamido Sanusi, stressed the importance of adding financial knowledge to the educational system of Nigerian schools in his goodwill message.
The former CBN Chief argued that there is a direct connection between financial exclusion and the widespread presence of insecurity and poverty levels, along with other bad behaviors in the country.
On his part, the Governor of Ondo State, Mr. Lucky Aiyedatiwa, described some of the actions taken by the Ondo State government to enhance 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, praised the support of stakeholders and the crucial role played by the CBN in making sure the 100 per cent target is achieved as quickly as possible. He also promised 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 putting in a lot of effort to speed up financial inclusion across the country, especially in underserved communities, and insisted that it is a moral and practical duty for the CBN to free citizens from the prison of deprivation.
He promised that the CBN will keep collaborating with other stakeholders to speed up 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.
