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Tosin Eniolorunda Advocates for Women-Centric Financial Inclusion
For financial inclusion to be sustainable, especially for women, it must no longer be treated as a buzzword, charitable social activity or a checklist to be marked.
L-R: Dr. Jameelah Sharrieff-Ayedun, Chief Executive Officer, Credit Registry; Inez Murray, Chief Executive Officer, Financial Alliance for Women; Tosin Eniolorunda, Founder and CEO, Moniepoint Inc; Bonaventure Okhaimo, Chief Operating Officer, Development Bank of Nigeria; Emem Usoro, Deputy Governor, Operations, Central Bank of Nigeria (CBN) and Nkiru Balonwu, Founder, Africa Soft Power Group & Advisor to the CBN Governor at the 2nd International Financial Inclusion Conference 2024 which was held at the Landmark Arena, Lagos
It must be rooted in economic and business activities that are well underlined by data considering that it is actually more profitable to serve women.
This was the thrust of an engaging plenary session, Leveraging Data to Accelerate Access to Finance for Woman Owned and Women-Led Enterprises in Nigeria which was moderated by the Deputy Governor, Operations, Central Bank of Nigeria Ms. Emem Usoro, at the second edition of the International Financial Inclusion Conference 2024 organized by the Central Bank of Nigeria and other critical stakeholders with the theme “Inclusive Growth: Harnessing Financial Inclusion for Economic Development.
The conference brought together a rich line-up of global thought leaders, industry practitioners, and key stakeholders to discuss pressing issues around how to accelerate financial inclusion in Nigeria and showcase Nigeria’s progress on gender inclusive financing, spotlight innovative solutions for inclusion, and how to deepen financing and capacity building of Micro, Small and Medium Enterprises (MSMEs) as catalysts of economic growth.
Tosin Eniolorunda, chief executive officer and founder of Moniepoint Inc noted that financial service providers play a vital role in supporting gender-inclusive finance and that by collecting and analyzing data on gender trends in small business performance, they can craft better policies, targeted products, and support services that encourage more women entrepreneurs.
Drawing from data curated from the Moniepoint platform, he averred that “women-owned businesses are more likely to stay active and show higher engagement rates in financial transactions.” In cases where financial support has been extended—through investments, KYC compliance, or the provision of tools like point-of-sale devices—female-led businesses have a 7.2 percent higher activity rate than their male counterparts while looking at the gender relations with credit products, “women-owned businesses have an 87.5 percent lower loan non-performance rate (NPL) than male-owned enterprises.”
Eniolorunda also made a case for the economic potential of investing in women entrepreneurs, who have proven to be diligent and enhance profitability while calling stakeholders to pay attention to the need to drive financial inclusion in the Northern part of the country.
He continued, “Data is the new oil,” and its application in the financial sector could be transformative for women-led businesses.
Echoing similar sentiments, Chief Executive Officer, Credit Registry, Dr. Jameelah Sharrieff-Ayedun said that, ”90% of women’s income that they receive goes back to the communities and their families as such when women have access to credit, the community is enhanced, families are better off which is why it’s important that they can access this funding.”
Other panelists included Chief Executive Officer, Financial Alliance for Women, Inez Murray, and the Chief Operating Officer, Development Bank of Nigeria, Bonaventure Okhaimo who expressed belief that creating an enabling environment, with increased investor participation coupled with the willingness of other stakeholders to sit around the table and have frank conversations will move the needle on financial inclusion for women owned businesses.
In her summation, Deputy Governor, Operations, Central Bank of Nigeria Ms. Emem Usoro acknowledged some of the structural challenges that might require time and resources to be addressed including cultural practices and less systemic ones such as distance to financial services providers that stifle the participation of women owned businesses, while signposting the power of data to serve as a catalyst for inclusive growth and its viability for economic planning .
It will be recalled that the inaugural IFIC which was held in Abuja in November 2022, focused on Nigeria’s achievements since the launch of the National Financial Inclusion Strategy (NFIS) in 2012 even as it highlighted the scaling of innovative digital models in the rapidly evolving financial services landscape.
MTN Nigeria has alerted the public to a fraudulent 25GB anniversary data offer currently circulating across social media and messaging platforms.
In an official advisory published on its support handle on X at the weekend, the telco warned customers against interacting with unverified links, sharing private credentials, or making payments to access the supposed anniversary promotion.
According to MTN, the official 25GB anniversary freebie is only accessible via the MTN eShop and the MyMTN NG App.
In the post, the company said, “Please beware of fake MTN 25th Anniversary 25GB giveaway offers circulating online.
“The official MTN 25GB Anniversary Giveaway is available ONLY via the MyMTN NG App and MTN eShop.
“Do not click on links, share your personal information or make payments on any other platform claiming to offer the giveaway.
“Only trust official MTN channels.”
In a different post, the provider explained how eligible subscribers could access the legitimate MTN data giveaway.
The company said, “Log in to the MyMTN App and tap ‘Redeem Now’ on the anniversary banner or via the MTN eShop.
“To access the 25GB offer, kindly visit the MyMTN App or the MTN E-Shop and follow the prompts to activate the bundle, if you are eligible for the offer.
“You may also click on the link contained in the SMS notification you received regarding the offer.”
To safely claim the reward, the telecom operator advised subscribers to rely strictly on details published through its official communication channels.
MTN added that the complimentary 25GB data allocation remains valid until 11:59 p.m. on the designated expiration date, urging eligible customers to redeem the package before it expires.
The warning follows a wave of viral posts and link-sharing schemes falsely offering free data under the guise of the company’s 25th-anniversary celebration.
Consequently, users are strongly cautioned against engaging with unauthorized platforms or providing sensitive personal information and fees to third-party sites claiming to offer the promotional data.
Nigeria is strengthening its position as a leading digital economy in Africa as it prepares to host the second edition of GITEX Nigeria, against projections that the continent’s artificial intelligence (AI) economy could generate up to $1 trillion in economic value by 2035.
GITEX Nigeria
GITEX Nigeria, described as West Africa’s largest technology, AI and startup event, is scheduled to hold in Abuja and Lagos from Aug. 31 to Sept. 3, under the patronage of President Bola Tinubu.
The event is supported by the Federal Ministry of Communications, Innovation and Digital Economy in collaboration with the National Information Technology Development Agency (NITDA), endorsed by the Lagos State Government and organised by KAOUN International.
With the theme, “Beyond Connectivity: The Bridge to Sovereign Innovation,” the 2026 edition is expected to bring together global technology companies, investors, policymakers, regulators, startups and other stakeholders to advance Nigeria’s digital transformation agenda.
According to the organisers, the event will focus on strengthening digital resilience, scaling AI infrastructure, attracting strategic investments and building partnerships to support digital sovereignty across Nigeria and West Africa.
Nigeria’s progress in digital skills development is expected to feature prominently at the event, with the Federal Government’s 3 Million Technical Talent (3MTT) programme highlighted as a major intervention.
The programme has recorded 1.87 million registrations across all 774 local government areas, while more than 135,000 Nigerians have been trained through three cohorts.
The programme has also extended learning opportunities to more than 300,000 people through community resources and created 15,000 job and opportunity pathways, according to figures released by the organisers.
Another key initiative, Project BRIDGE, is aimed at expanding Nigeria’s national ICT backbone and improving connectivity in underserved communities.
The project is expected to create up to 20,000 direct jobs and more than 150,000 indirect jobs, train 5,000 Nigerian youths, raise internet penetration above 70 per cent and extend high-speed connectivity to millions of households, businesses, schools and hospitality establishments.
Dr Bosun Tijani, Minister of Communications, Innovation and Digital Economy, said Nigeria’s objective was to build the foundations for digital sovereignty and a globally competitive AI-powered economy.
“Building on the momentum forged through the implementation of Project BRIDGE, our national blueprint for expanding digital infrastructure and connecting communities across Nigeria, our aspiration ahead of this year’s edition is clear: to solidify the foundations Africa needs for digital sovereignty, technological self-determination, and a globally competitive AI-powered economy,” Tijani said.
He said Nigeria was seeking to promote equitable access, accelerate cross-continental progress and position the country as a producer and exporter of digital technologies and AI solutions.
The GITEX Nigeria Government Leadership and AI Summit will open in Abuja on Aug. 31, bringing together ministers, governors and regulators to discuss digital public infrastructure and other issues shaping West Africa’s digital economy.
The GITEX Nigeria Tech Expo and Future Economy Conference, as well as the Startup Festival, will also return for the second consecutive year.
A new component, FDX Nigeria by GITEX, will focus on finance and digital asset exchange, with the organisers describing it as a platform designed to promote financial inclusion and connect emerging technology with global capital.
Gov. Babajide Sanwo-Olu of Lagos State said the state remained central to Africa’s digital transformation, noting its role in attracting talent, capital and innovation.
He said hosting GITEX Nigeria would further support Lagos’ ambition of becoming a smarter, more connected and globally competitive economy.
Kashifu Inuwa Abdullahi, Director-General of NITDA, said Nigeria’s digital future would depend not only on technology adoption but also on resilience, trust and effective governance frameworks.
“GITEX NIGERIA seamlessly complements this mandate, creating a unique environment for the dialogue needed to accelerate responsible AI adoption, develop a secure digital economy, and unlock new opportunities for innovation and economic growth,” Abdullahi said.
He said the expertise, investment and partnerships generated through the event would contribute to building an AI ecosystem that was secure, inclusive and capable of supporting Nigeria and West Africa’s long-term competitiveness.
The organisers said Nigeria’s National AI Strategy, 3MTT programme and Project BRIDGE were among initiatives strengthening the country’s capacity in talent development, digital infrastructure, investment attraction and responsible AI adoption.
They said GITEX Nigeria would provide an avenue for global stakeholders to establish partnerships and develop solutions capable of accelerating the region’s digital transformation.
Trixie LohMirmand, CEO of GITEX, said the event was intended to demonstrate that West Africa was ready to convert technological ambition into economic growth, resilience and global competitiveness.
She said GITEX Nigeria would facilitate strategic conversations and partnerships aimed at strengthening regional competitiveness and unlocking scalable growth across Nigeria and West Africa.
Nigerian Communications Commission (NCC) and the Enugu State Government have signed an agreement for the operational lease of the NCC Digital Industrial Park and NCC Learning Centre in Enugu.
The agreement was witnessed by Dr Aminu Maida, Executive Vice Chairman and Chief Executive Officer of the NCC, alongside members of the Commission’s Board and Management.
The development is expected to strengthen digital innovation, skills development and technology-driven opportunities in the state.
As part of the engagement, the NCC delegation also visited the Enugu Smart School Initiative, where technology is being integrated into teaching and learning.
The initiative is aimed at equipping young Nigerians with relevant digital skills and preparing them for future opportunities in an increasingly technology-driven economy.
The NCC said it remained committed to supporting initiatives that expand digital inclusion, strengthen innovation and develop the talent required to drive Nigeria’s digital transformation.
The Commission said partnerships with state governments and other stakeholders were critical to creating an enabling environment for digital skills development and technology adoption across the country.
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