Experts Tackles Gender Bias in Nigeria’s Financial System

Experts have identified key strategies that can be adopted towards addressing systemic gender bias, stereotyping, discrimination, and gender inequalities that exist in Nigeria, especially in access and use of formal financial services.

According to the experts, accelerating progress on eliminating the gender gap in access to financial services in Nigeria requires broad-based institutional reforms that put gender equality in the front burner.

A Webniar organised by the Gender Centre of Excellence at Rockefeller Philanthropy Advisors with the theme, “Breaking Biases to Bridge the Gender Gap in Women’s Financial Inclusion in Nigeria,”provided an opportunity to reflect on gains in women’s financial inclusion.

The event was organised 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 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.

The Chief Executive Officer, EFInA, Ashley Immanuel said bias is an inclination or prejudice against a person or group of persons in a way that could be considered unfair, for example favouring men/boys over women/girls. 

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

Speaking Associate Dean and Professor of Information Systems, Lagos Business School, David-West noted that the orientation should start from the family and in how people relate with one another and how children are treated right from when they are young.