Experts tackle gender bias in Nigeria’s financial system

Experts have identified key strategies that can be adopted to address systemic gender biases, stereotypes, discrimination and gender inequalities that exist in Nigeria, particularly in accessing and using formal financial services.

Experts say accelerating progress towards closing the gender gap in access to financial services in Nigeria requires far-reaching institutional reforms that put gender equality at the forefront.

A webniar hosted by the Rockefeller Philanthropy Advisors Gender Center of Excellence on “Breaking the Bias to Close the Gender Gap in Women’s Financial Inclusion in Nigeria” reflected on financial inclusion gains women.

The event was organized in collaboration with the Central Bank of Nigeria (CBN), Enhancing Financial Innovation and Access (EFInA), Lagos Business School and Women’s World Banking to mark International Women’s Day.

Moderator and Program Director, Rockefeller Philanthropy Advisors Nigeria, Henrietta Bankole-Olusina noted that the webinar highlights that IWD is a special day in which women are celebrated for their social, economic and political achievements.

EFInA’s chief executive, Ashley Immanuel, said bias is an inclination or prejudice against a person or group of people in a way that could be seen as unfair, such as favoring men/boys over to women/girls.

Head of Financial Inclusion Delivery Unit, CBN, Paul Oluikpe noted that the patriarchal system that sees the role of women as appendages and subordinates to men is most often culturally rooted and religiously reinforced. , which makes men dominant.

Speaking to the Associate Dean and Professor of Information Systems at Lagos Business School, David-West noted that guidance should start with the family and in how people interact and how children are treated from an early age. .