Last Friday, the Central Bank of Nigeria (CBN) pledged to accelerate financial inclusion, entrepreneurship support and capacity-building for Nigerian youths in emerging sectors of the economy.
Addressing a Youth Action event themed ‘The Youths Are Here’ which held in Abuja, the Governor of the Central Bank of Nigeria (CBN), Yemi Cardoso, said the financial institution was committed to providing youngsters with the necessary financial tools to excel in their various endeavours.
Speaking through his Deputy Governor of the Economic Policy Directorate – Muhammad Sani Abdullahi – Cardoso reiterated the Bank’s commitment to bridging financial access gaps, fostering innovation, and ensuring active involvement of young people in policy formulation.
Expressly, the bank chief assured CBN’s policies would support youth entrepreneurship and innovation, particularly in emerging sectors like the green economy and digital transformation.
Dedicated to creating a more inclusive and sustainable future, the monetary authority is said to have evolved a strategy to strengthen partnerships with civil societies, international organisations and the private sector.
“The CBN is committed to forging strategic partnerships that will empower young people and underserved communities. By working together with urgency and purpose, we can align our efforts with the Pact of the Future to build a Nigeria where the youth can dream boldly and innovate confidently,” Cardoso told the audience.
Remarking that Nigerian youths are not just the leaders of tomorrow but key stakeholders in shaping economic policies and transformations, the CBN helmsman avowed that the reserve institution was focused on ensuring that young Nigerians had access to opportunities that would enable them to thrive as entrepreneurs, innovators and job creators.
Just as he declared that financial inclusion remained central to the national bank’s mission, Cardoso stressed that the CBN would continue to design and implement policies that bridge financial access gaps.
While congratulating the CBN on the laudable initiative of its under review, Observers Times recommends additional measures towards optimizing youth financial inclusion. However, we must let it be known ab initio that the way forward requires a multi-sectoral approach.
First, Ministries of Education, Finance and Youth Development might consider advancing policies to provide full opportunities to youths in accessing financial services without legal and regulatory framework encumberances.
Second, NGOs, FBOs and CSOs involved in financial literacy trainings should be encouraged to achieve greater outreach.
Third, entrepreneurship programmes that increase financial capabilities of youths must be supported.
