Minister Seeks Microfinance Bank For Women

The Honourable Minister of Women Affairs, Hajiya Imaan Sulaiman-Ibrahim, has proposed creating a dedicated microfinance bank to support women entrepreneurs in Nigeria.

The Minister disclosed this during a meeting with Mr Simpson Eimiakhena, CEO of LOHI Consulting, where the possibility of a dedicated financial institution to prioritise support for women’s empowerment and inclusion was exhaustively discussed.

In a statement signed by the Special Adviser on Media and Publicity to the Minister, Mr Jonathan Eze, Sulaiman-Ibrahim stated that the initiative would address the significant financial access gap for women, who constitute a large portion of the under-served population.

The Minister emphasised that microfinance services can significantly contribute to women’s empowerment by enhancing their decision-making power and overall socio-economic status.

She expressed her passion for advancing initiatives that promote women’s empowerment and support their families. She acknowledged the proposal as timely and pledged to initiate the project plan, highlighting its potential to transform women’s lives through improved financial inclusion and socio-economic opportunities.

The statement reads, in part: “Establishing a National Microfinance Bank for Women is a critical step towards promoting gender equality and economic growth in Nigeria.

“My commitment to this initiative demonstrates my dedication to President Bola Ahmed Tinubu’s Renewed Hope Agenda, which focuses on empowering women and improving their socio-economic status.”