FG signs MoU with six professional bodies to train 10 million Nigerians on financial inclusion

The Federal Government has signed a Memorandum of Understanding (MoU) with six professional bodies to train 10 million Nigerians nationwide on financial inclusion and literacy, with a strong focus on youths and women.

The programme, which was officially flagged off on Monday at the Presidential Villa, Abuja, is being implemented through the Office of the Vice President under the Presidential Committee on Economic and Financial Inclusion (PreCEFI), chaired by Vice President Kashim Shettima.

Speaking at the event on behalf of President Bola Ahmed Tinubu, Vice President Shettima said Nigeria could only harness its demographic dividend if young people and women were equipped with relevant skills and strong ethical grounding needed for a rapidly evolving digital economy.

He described the MoU as more than a formal agreement, calling it a strategic national investment in human and institutional capacity essential for inclusive economic growth.

“This is an investment in capacity as infrastructure — the human, institutional and ethical foundations upon which inclusive growth must rest,” Shettima said.

Under the agreement, the Federal Government will collaborate with the Institute of Chartered Accountants of Nigeria (ICAN), Chartered Institute of Bankers of Nigeria (CIBN), Chartered Institute of Stockbrokers (CIS), National Institute of Credit Administration (NICA), Chartered Risk Management Institute (CRMI), and the Nigeria Institute of Innovation and Entrepreneurship (NIIE).

The Vice President noted that the Aso Accord on Economic and Financial Inclusion, which PreCEFI is mandated to implement, recognises that financial inclusion goes beyond access to services and must be driven by competence, trust and capability.

He warned that Nigeria could not achieve its ambition of building a one-trillion-dollar economy on weak skills, fragmented standards and disconnected professional ecosystems.

According to him, the collaboration will establish a structured framework for joint training programmes, certification pathways, digital skills development, policy dialogue, youth empowerment and support for small and medium-scale enterprises.

Shettima stressed that without skilled accountants, credit administrators, bankers, risk managers and innovators who understand the realities of a digital economy, financial inclusion would remain “a slogan rather than a system.”

Reiterating the focus on inclusivity, he said the programme prioritises women and youths, noting that meaningful economic growth depends on equipping young Nigerians with relevant skills for the future.

“On behalf of President Bola Ahmed Tinubu, I hereby flag off the free training of 10 million Nigerians with priority for women and youth across the country,” he declared.

Earlier, the President of ICAN, Mallam Haruna Nma Yahaya, commended the Tinubu administration for its economic reforms, which he said had laid the foundation for the nationwide financial inclusion training.

He assured the Federal Government of the professional bodies’ full support, describing their participation in the programme as an institutional honour.

Also speaking, Chief Executive Officer of WAWU Africa, the programme’s technical partner, Mr Emmanuel Lennox, pledged the organisation’s readiness to deliver the digital platform and enabling environment required for the success of the initiative.

Explaining the rationale behind the programme, the Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Abubakar Zauro, said financial exclusion was often caused not only by lack of access, but by limited skills, weak institutional capacity and insufficient professional support.

The highlight of the event was the formal signing of the MoU between the Federal Government and the six professional bodies, marking the commencement of the nationwide capacity-building programme.