The Minister of Women Affairs, Hajia Imaan Sulaiman-Ibrahim, has called on all stakeholders to take immediate and decisive action in empowering women through financial literacy and inclusion.
She stated that the federal government has set an ambitious goal to empower 10 million women by 2027 as part of its broader strategy to transform Nigeria into a $1 trillion economy by 2030.
Speaking at an event to commemorate International Women’s Day with the theme “Accelerate Action: Empowering Women Through Financial Literacy & Inclusion,” Sulaiman-Ibrahim emphasized the transformative power of financial knowledge.
The event, organized by the Securities and Exchange Commission (SEC) and co-sponsored by United Capital Asset Management Limited and Stanbic IBTC Asset Management, brought together financial leaders and women’s groups committed to advancing financial education and empowerment.
Sulaiman-Ibrahim explained that financial literacy is not just about understanding money but about equipping women with the tools to make informed decisions that shape their future. She stated that when women are financially literate, they have the power to influence their own economic destiny, secure their families’ future, and become change-makers in society.
The minister noted that Nigerian women are already a driving force in the economy, owning around 40 percent of small businesses in the country, a testament to their entrepreneurial spirit and resilience.
In response to the challenges women face, she outlined key initiatives aimed at promoting financial empowerment. She stressed the need to increase financial literacy among women, equipping them with knowledge to make informed decisions about savings, investments, and wealth creation. She also emphasized the importance of improving access to secure financial products tailored to women’s unique needs, including loans and investment opportunities. Furthermore, she underscored the necessity of strengthening protections for women against financial exploitation, fraudulent schemes, and Ponzi scams, which many women are vulnerable to.
The Director General of SEC, Dr. Emomotimi Agama, described the celebration of International Women’s Day as an important event, emphasizing that women play a crucial role in the economy and capital markets. He stated that the objective of the government is to empower women, educate them, and bring them to the forefront of national recognition, especially in the capital market.
Agama also highlighted the vulnerability of women to Ponzi schemes in Nigeria, noting that many victims of such scams are women due to their empathetic nature and commitment to supporting their families. He commended the minister, stating that the partnership between SEC and the Ministry of Women Affairs would enhance financial education for women across Nigeria.