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The Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, has called for urgent action to empower women through financial literacy and inclusion to foster economic growth and improve livelihoods.
Speaking at an event to commemorate the International Women’s Day with the theme, “Accelerate Action – Empowering Women Through Financial Literacy & Inclusion,” the Minister emphasized the need for stakeholders to translate conversations into concrete actions that would boost women’s participation in the financial system.
The event, organised by the Securities and Exchange Commission (SEC) in collaboration with United Capital Asset Management Limited and Stanbic IBTC Asset Management, brought together financial leaders and women’s groups committed to advancing women’s financial education and empowerment.
Commending the SEC for championing women’s financial inclusion, Sulaiman-Ibrahim described financial literacy as a transformative tool that empowers women to make informed decisions about their future.
“When women are financially literate, they have the power to influence their own economic destiny, secure their families’ future, and become change-makers in society,” she said.
Despite women’s critical role in the Nigerian economy, the Minister highlighted the significant barriers they face in accessing financial resources, including limited access to credit, exclusion from formal financial systems, and vulnerability to fraudulent schemes.
She disclosed that the Federal Government, under President Bola Ahmed Tinubu’s administration, has set a target to empower 10 million women by 2027 as part of its broader plan to transform Nigeria into a $1 trillion economy by 2030.
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The Minister outlined key initiatives to promote women’s financial empowerment, including increasing financial literacy, improving access to tailored financial products, and strengthening protections against fraudulent schemes.
SEC Director General, Emomotimi Agama, in his remarks, described women as key drivers of the capital market and essential to Nigeria’s economic development.
He said, “What do we do in the capital market? We do so much, distribution of wealth. Every woman that has N10 makes sure she multiplies that N10 to N50. That is the nature of a woman.”
Agama noted that women constituted the majority of victims of Ponzi schemes due to their empathetic nature and desire to provide for their families.
He added, “The objective of this government is to empower women, we must educate women and we will bring them to the fore of national recognition when it comes to the capital market.”
Agama commended the Ministry, pledging the Commission’s partnership to provide financial education for women to enhance their participation in the capital market.
