CBN PLANS TO ELIMINATE GENDER GAP BY 2024 | AfriTV Online

The Central Bank of Nigeria, CBN, said it will eliminate gender gap in financial inclusion by 2024 using its latest released framework for advancing women’s financial inclusion in Nigeria. The framework, according to the apex bank, builds on the revise...

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CBN PLANS TO ELIMINATE GENDER GAP BY 2024

Published by: A. Odean
10/08/2020 03:40 PM

The Central Bank of Nigeria, CBN, said it will eliminate gender gap in financial inclusion by 2024 using its latest released framework for advancing women’s financial inclusion in Nigeria. The framework, according to the apex bank, builds on the revised targets of the 2018 National Financial Inclusion Strategy, which aims at reducing the financially excluded adult population to 20 percent by the end of this year.



 

 

 

 

 

According to Enhancing Financial Innovation and Access 2018 survey report, the gender gap in financial access is present across regions, income groups and age groups, indicating that there are systemic obstacles to women’s financial inclusion in Nigeria and women are still more likely than men to rely exclusively on informal financial services.

 

 

The apex bank cited Demand-related barrier, supply related barrier, legal regulatory/supervisory barrier and financial and technical infrastructure barrier as key barriers to women financial inclusion in the country. It however noted that the framework has set up eight strategies to enable the attainment of an equal gender financial inclusion by 2024.



 

 

 

 

The regulator noted that a monitoring and evaluation plan will be adopted at the outset of the implementation of the framework, following the identification of specific activities (actions) under each strategic objective/ recommendation, classified as short, medium, or long-term actions.

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