Why is financial inclusion low among Nigerian women?
Women financial inclusion. Source: Stears Business

When Michael Famoroti, the chief economist at Stears, addressed Nigeria's financial inclusion issue three months ago, he raised a startling fact: more Nigerian women are locked out of financial services than men.

Count ten men in Nigeria, and at least five of them own a financial account, but only three out of every ten women do. While the figures are not looking great for men, it's worse for the female gender. By solely depending on cash, how would they prevent petty theft or, more importantly, have access to credit and loans that can grow their businesses? 

These questions have long lingered in one corner of my mind, so, as Gbemisola Alonge, the lead feminist at Stears Business, asked me what we should write about in celebration of women's month, my mind naturally went to this topic. 

You see, financial inclusion and poverty eradication—another problem Nigeria is struggling to tackle—go hand

Don’t limit your understanding. Join the Premium community to continue reading.

Adesola Afolabi

Adesola Afolabi

Read Latest

Banking through agents: A successful path to inclusion?

PREMIUM - 14 APR 2021

How Stanbic achieved higher profits during a pandemic

PREMIUM - 13 APR 2021

Industrialisation: Why Africa’s path to development remains slow

PREMIUM - 12 APR 2021

Two things that are good about Nigeria

PREMIUM - 09 APR 2021