EFInA Intensifies Efforts in Advancing Women’s Financial Inclusion

Enhancing Financial Inclusion and Advancement (EFInA) has intensified efforts to  advance  women’s economic empowerment and financial inclusion as it recently  brought together  women’s associations, financial service providers, regulators, development partners, and ecosystem leaders at its International Women’s Month Convening  in Abuja.

With the theme, “Gather, Gain, Grow,”   the gathering brought together diverse stakeholders to explore practical approaches to advancing women’s economic empowerment and financial inclusion through stronger collaboration and more intentional design of financial solutions.

Held in commemoration of International Women’s Day 2026 under the global theme “Give to Gain,”  the event created a platform for women’s associations to share their experiences, highlight what is working at the community level, and draw attention to persistent barriers limiting women’s access to and use of formal financial services.

In her welcome address, Chief Executive Officer of EFInA, Foyinsolami Akinjayeju, emphasised that the convening goes beyond celebration, noting that it represents a call to commitment, stronger partnerships, and deliberate action.

She added that inclusive growth cannot be achieved without intentional investment in women, particularly women entrepreneurs who drive economic activity across markets, workshops, and communities in Nigeria.

“Women-led and owned micro, small and medium enterprises (MSMEs) remain central to Nigeria’s economic growth, contributing significantly to employment, productivity, and livelihoods. However, despite this contribution and the fact that women make up a substantial proportion of Nigeria’s adult population, access to formal financial services remains limited,” she  said.

In a goodwill message, Director, Consumer Protection and Financial Inclusion Department, Central Bank of Nigeria (CBN), Dr Aisha Isa-Olatinwo,  noted that advancing women’s financial inclusion requires clear and enabling policy pathways. She emphasised the need for financial service providers to develop products and services that are responsive, affordable, and relevant to women’s realities.

The event featured panel discussions with representatives from women’s associations, financial institutions, development organisations, and policy stakeholders, as well as a keynote address from National Coordinator of the Nigeria for Women Programme Scale-Up project, Dr Hadiza Maina,  who represented the Honourable Minister of Women Affairs and Social Development, Hayiya Imaan Sulaiman-Ibrahim.

The event also featured  the exchange of insights between grassroots organisations and institutional actors, creating a shared understanding of both the challenges and opportunities within the ecosystem.

Discussions emphasised that while these challenges persist, solutions are already emerging through women’s associations working directly within communities.

Also speaking at the event, Technical Adviser to the President on Financial Inclusion, Dr Nurudeen Zauro,  highlighted that supporting women is equivalent to supporting national development.

He referenced findings from the mid-term assessment of the National Financial Inclusion Strategy (NFIS), noting that women remain a priority segment and that ongoing efforts continue to focus on improving outcomes for them.

Further reinforcing the importance of the theme, Senior Financial Sector Specialist at the World Bank, Mr Michael Ilesanmi,  described the convening as both timely and essential. He noted that women-led enterprises, particularly those anchored in organised associations, represent a critical segment for achieving inclusive growth and strengthening financial system stability.

Speaking on the motivation for the event and the role EFInA’s Gender Centre of Excellence is playing to advance women’s economic empowerment in Nigeria, EFInA’s Gender lead, Emezino Afiegbe, said: “I”t is vital to recognise that women’s groups and associations are platforms for trusted interactions among women in all demographic settings, and pathways for early and consistent engagement with formal financial services.

In answering the questions: ‘Where are the women?’, and ‘How can women be successfully served, included and empowered?’,  EFInA’s Gender Centre of Excellence emphatically underscores that supply side actors should beam their searchlight on women collectives, patiently understand them, and utilize the ‘women centered design’ methodology in building solutions around women’s lived realities and use-cases. Beyond the convening, EFInA’s GCE will continue building the capacity of Financial service providers across the ecosystem to better provide productive credit solutions to women entrepreneurs and smallholder farmers, while also working with Regulators and other financial inclusion practitioners to sustain an enabling environment for Women’s financial inclusion and economic empowerment.”

The event ended with participants making clear commitments toward advancing women’s financial inclusion.

These commitments underscored a shared resolve across the ecosystem to move beyond dialogue and ensure that insights from the convening translate into concrete actions, stronger partnerships, and measurable progress for women across Nigeria.

EFInA reaffirmed its commitment to facilitating a financial system that works for all Nigerians, particularly underserved populations, by generating evidence, supporting innovation, and fostering partnerships that drive inclusive growth.