By Egena Sunday Ode
The federal government has unveiled the Aso Accord on Economic and Financial Inclusion, a multi-pronged blueprint designed to achieve universal access to financial services across Nigeria.
The accord, signed on Thursday, 25th April 2024 at the State House Banquet Hall, represents a core pillar of President Bola Ahmed Tinubu administration’s Renewed Hope Agenda to transform the nation into a $1 trillion economy by 2030 while combating poverty and insecurity through broad-based prosperity.
Leveraging comprehensive policy reforms and strategic investments, the Aso Accord charts a roadmap to bridge the significant gaps that have left millions of Nigerians, particularly underserved segments like women, youth, rural communities, and small businesses, without vital financial services like credit, insurance, pensions, and savings facilities.
According to a communique issued at the end of the two-day National Stakeholders’ Workshop on Economic and Financial Inclusion by the Technical Advisor to the President on Financial Inclusion, Dr. Nurudeen Abubakar Zauro, “Financial inclusion is an imperative, not just an economic objective, but a moral calling to unlock opportunities for every Nigerian to achieve their potential.”
Dr. Zauro whose office spearheaded the initiative said, “The Aso Accord provides a robust framework to democratize access to finance, empower entrepreneurs and catalyse sustainable economic growth from the bottom up.”
Key elements of the accord include establishing a high-level Presidential Council to spearhead reforms, potentially through an Executive Order, and prioritizing innovative solutions, including government-to-person (G2P) programs to directly invest in underserved communities, Senior Special Assistant to the President on Media and Publicity, Stanley Nkwocha saud in a statement.
It also aims to integrate financial literacy into the national curriculum, bridging the digital divide by strengthening ICT infrastructure nationwide, addressing gender gaps, rural exclusion, regional gap in the Northern Nigeria, enhancing service delivery for small businesses and low-income citizens, and fostering collaboration across the public and private sectors, as well as different levels of government, the statement added.
The accord was signed by Vice President Kashim Shettima; Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, Governor of the Central Bank of Nigeria, Mr. Yemi Cardoso and National Security Adviser of Nigeria, Mallam Nuhu Ribadu, the statement noted.
