CBN, Stakeholders Canvass More Robust Financial Inclusion Of PWDs

The necessity for greater measures to guarantee that Persons with Disabilities (PWDs) have complete access to financial services has been empathised by the Central Bank of Nigeria (CBN) in collaboration with key stakeholders.

The call was made during a one-day workshop jointly organised by the Consumer Advocacy and Empowerment Foundation (CADEF) and Consumers International.

The workshop, themed “Digital Financial Literacy for PWDs,” explored strategies to enhance financial inclusion for PWDs.

Senior manager of the Development Finance Office at the CBN, Bunmi Adeniyi, emphasised the significance of cooperation and alignment between financial institutions and disability organisations.

“Financial services should be accessible to everyone, but PWDs still face significant exclusion. While progress has been made since 2012, more needs to be done to meet our 95 percent financial inclusion target,” she added.

Adeniyi stressed that the CBN Governor serves as the chair of the Financial Inclusion Steering Committee, which further demonstrates the CBN’s commitment to financial inclusion for people with disabilities. “PWDs remain a priority segment, and we must move faster by working together to address their unique challenges,” she affirmed.

Key financial institutions, such as Zenith Bank, also participated in the workshop. Chinonso Umeh, who represented the Head of Retail Services at Zenith Bank, reiterated the bank’s commitment to PWDs.

“At Zenith Bank, we pride ourselves on people, technology, and service. We are committed to working with stakeholders to improve the financial experience for PWDs and ensure they are fully included,” Umeh stated.

The Lagos State Office for Disability Affairs, LASODA, also called for increased public-private collaboration to address the financial barriers faced by PWDs.

General Manager of LASODA, Adenike Oyetunde-Lawal, emphasised the need for tailored financial products and accessible services. Oyetunde-Lawal, who was represented by Mr. Safiu Babatunde, Head of the Legal Department, urged the banking sector to be more responsive to the needs of PWDs.

Earlier in her speech, the executive director of CADEF, Prof. Chiso Ndukwe-Okafor, highlighted the need for greater inclusivity in the financial sector. She shared her personal experiences witnessing the challenges faced by persons with disabilities in accessing banking services, which sparked her commitment to finding solutions.

Ndukwe-Okafor stated: “CADEF has been empowering individuals with financial literacy, including those with disabilities.”Our goal is to create inclusive financial systems that meet the needs of all Nigerians.”

The workshop focused on enhancing security and privacy features for PWDs, ensuring accessibility to financial platforms, and developing an action plan to address identified barriers. “We need to ensure that persons with disabilities can protect their financial information online and have easy access to their data through inclusive digital platforms,” Prof. Ndukwe-Okafor explained.

The event underscored the importance of partnerships between the government, financial institutions, and disability organizations in creating inclusive financial solutions. Stakeholders agreed on the need for tailored financial literacy programs, improved accessibility of banking platforms, and better coordination across sectors to drive meaningful progress.