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‘20 Million Nigerian Women Have No Bank Accounts’



Afrigrants, a Non Governmental Organisation which specialises in empowering  women by providing training and literacy skills through a financial inclusion programme, have disclosed that 40 million Nigerians, including 20 million women have no bank accounts.

According to the Chief Executive Officer(CEO) of Afrigrants, Thelma Ekiyor, the nation’s women are not  inclusive in day to day financial transaction because in most cases they are illiterates, not knowing how to keep financial records.

Speaking at the weekend on the occasion of ‘Empowering Women in Kaduna State with Financial Literacy Skills’, by UN Women, Procter & Gamble (P&G) in collaboration with Afrigrants, Ekiyor disclosed that 250 women were carefully selected for the first batch of training in Kaduna.

She said the programme which runs into four batches will at its end see the women becoming distributors of P&G products.

According to her, “The record of 40 million Nigerians that don’t have bank accounts is a data from a researched work at the CBN. You find out that 40 million Nigerians are financially excluded, which means they don’t have bank accounts.

“They cannot access financial services, and half of that figure are women, so you can see that there is a big problem.

“One of the causes of this financial exclusion is lack of financial literacy. They don’t know how to manage thier money, they don’t know how to take sound decision on their money. So training on financial literacy is an important foundation to address major problem of financial exclusion”.

UN Women Country Representative, Mr. Lansana Wonneh noted that women and girls makes up almost half of Nigeria’s population, but their contribution to measure economic activity, growth and well-being is far below its potential, resulting in significant socio-economic consequences.

Also, Director on public policy, P&G, Temitope Iluyemi said, “There are many opportunities for both men and women in Nigeria, yet women are mostly excluded and disadvantaged. However, through this programme, we aim to empower women with the right tools and knowledge needed to setup and grow their businesses and be major contributors to the economy”,he added.

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