CBN Governor Champions We-Fi Code Declaration for Women Entrepreneurs

By Oluwakemi Kindness 

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged stakeholders in the financial ecosystem to adopt the Women entrepreneurs Finance (We-Fi) Code as part of a collective drive to enhance the financial inclusion of women entrepreneurs across Nigeria.

Cardoso stated this at the landmark event of Nigeria’s public declaration of commitment to the We-Fi Code, held at the CBN Head Office on Wednesday.

According to him, Cardoso, the We-Fi Code represents a commitment by financial service providers (FSPs), regulators, development banks, and other financial ecosystem players to work together to increase funding for Women-owned and Women-led Micro, Small, and Medium Enterprises (WMSMEs) worldwide.

While noting that over 400 million women entrepreneurs globally have vast potential to grow their businesses, contribute to economic value, and create jobs, he pointed out that they faced significant barriers in accessing financing.

Speaking further, he emphasised that Nigeria’s national commitment to the We-Fi Code marked a decisive step toward empowering women entrepreneurs as essential contributors to the country’s economic growth and social development.

“This commitment is not just symbolic but a significant stride in closing the gender financing gap and ensuring women entrepreneurs are at the forefront of our national development” he said.

In her remarks, the Deputy Governor, Operations, Emem Usoro, expressed her enthusiasm for the initiative, noting that empowering women is synonymous with empowering a nation.

She commended Governor Cardoso’s dedication to enhancing financial independence for women and reaffirmed her support for the Code.

The event’s high point was the ceremonial signing of the declaration plaques by the CBN Governor, MD/CEO BOI, and MD/CEO DBN.