The Central Bank of Nigeria (CBN) marked International Women’s Month 2025 with a resounding affirmation of its commitment to gender inclusion within the financial sector. The event, themed “Inspiring Change, Leading with Purpose, and Creating Impact,” took place at the CBN headquarters in Abuja and served as a platform to celebrate the progress made in women’s representation within the industry while also highlighting the need for continued efforts. CBN Governor, Mr. Olayemi Cardoso, and Deputy Governor, Corporate Services, Emem Usoro, both delivered powerful messages underscoring the importance of gender diversity and the significant contributions of women in the financial landscape.
The event was held against the backdrop of the UN’s International Women’s Day 2025 theme, “For ALL Women and Girls: Rights. Equality. Empowerment.” This theme resonated strongly with the CBN’s own initiatives, emphasizing the need to unlock equal opportunities and empower the next generation of female leaders. Cardoso proudly highlighted the rising number of women in leadership roles within the financial sector, noting the record number of female managing directors and the increased representation of women on the CBN’s own board. He emphasized that gender equality is not just a moral imperative but also an economic necessity, driving innovation and contributing to the overall health of the financial sector.
Usoro, in her address, urged women to embrace leadership roles with confidence and determination. She encouraged them to break free from societal stereotypes and self-imposed limitations that often hinder their advancement. Her call to action resonated with the overall message of empowerment and underscored the importance of individual agency in achieving gender equality. The event also included an awards ceremony recognizing outstanding female executives for their contributions to the financial industry, further demonstrating the CBN’s commitment to celebrating and promoting women’s achievements.
The CBN’s commitment to gender inclusion extends beyond symbolic gestures and celebratory events. The bank has embarked on concrete initiatives to foster women’s participation and leadership within the financial ecosystem. These efforts are driven by the understanding that inclusive growth is essential for sustainable economic development. Earlier in March, at Citibank’s inaugural Women in Central Banking event in London, Usoro reiterated the CBN’s focus on financial inclusion, a key priority for Governor Cardoso. She emphasized the significance of including women and other underserved groups in the financial system, recognizing that when women thrive, economies prosper, and opportunities multiply for everyone.
Recognizing the existing disparities in access to finance, the CBN has taken proactive steps to address the challenges faced by women. A key finding from a study revealed a nine percent gender gap in access to finance, highlighting the need for targeted interventions. In response, the CBN, in partnership with various development partners, established a Gender Desk within its Financial Inclusion Unit. This dedicated unit focuses on tackling the specific obstacles women face, including low trust in financial service providers and limited financial literacy.
Furthering its commitment to gender-inclusive finance, the CBN has launched several strategic initiatives. These include the Women Entrepreneurs Finance Code Commitment, developed in collaboration with the Development Bank of Nigeria and the Bank of Industry. This initiative aims to provide women entrepreneurs with the necessary resources and support to thrive. The CBN also launched the Framework for Advancing Women’s Financial Inclusion in Nigeria, a comprehensive roadmap for achieving greater gender equality within the financial sector. Finally, recognizing the need for collaborative efforts, the CBN inaugurated an inter-agency Special Interventions Working Group with a strong focus on women’s financial inclusion. This collaborative approach brings together various stakeholders to address the complex challenges and drive meaningful change.
The CBN’s multi-pronged approach to gender inclusion signifies a significant shift towards a more equitable and prosperous financial landscape. By combining symbolic recognition, policy initiatives, and targeted interventions, the bank is actively working to create an environment where women are not only participants but also key decision-makers in Nigeria’s economic future. The commitment to empowering women, promoting their leadership, and ensuring their access to financial resources underscores the CBN’s belief that gender equality is not just a social imperative but a fundamental driver of economic growth and development. The efforts made during International Women’s Month 2025 serve as a testament to this commitment and a springboard for continued progress in the years to come. The focus on inclusive growth and the empowerment of women signals a positive trajectory for Nigeria’s financial sector and the broader economy.
