The federal government, on Tuesday, mandated the Presidential Committee on Economic and Financial Inclusion (PreCEFI), to provide strategic guidance and oversight for the implementation of the Aso Accord targeted at driving ongoing economic reforms of the government which prioritise inclusive growth and bridge financial gaps across the country.
The committee inaugurated by Vice President Kashim Shettima on February 10, 2025, is part of the efforts of President Bola Tinubu’s commitment to attaining a trillion-dollar target for the Nigerian economy.
The Presidential Committee which operates under two subcommittees namely the Governance Committee (GovCo) and Technical Committee (TechCo), is supported by an implementation secretariat, with their respective terms of reference.
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Unveiling the terms of reference on Tuesday, Presidency noted that the Governance Committee (GovCo) chaired by the Vice President, with the support of Wale Edun, Minister of Finance and Coordinating Minister of the Economy, as Deputy Chairman, is saddled with the task of providing high-level strategic oversight.
“The GovCo provides high-level strategic guidance and oversight for EFI initiatives. Projects are aligned with national development strategies, policy frameworks are provided, strategic plans are approved, and resource mobilization is facilitated,” it stated.
BusinessDay gathered that the subcommittee’s responsibility include providing strategic guidance and oversight for the implementation of the Aso Accord, offering governance and leadership for the successful execution of the Accord and setting performance targets, monitoring and reviewing the performance and progress of key implementation activities, acting as a liaison between the National Economic Council and economic and financial inclusion implementation agencies.
Members of the committee are Ibrahim Hadejia, Deputy Chief of Staff to the President, Enugu State Governor, Peter Mbah; Kaduna State Governor, Uba Sani and Olatunbosun Tijani, Minister of Communications, Innovation, and Digital Economy,
Others are Nentawe Yilwatda, Minister of Humanitarian Affairs and Poverty Alleviation, Nuhu Ribadu, the National Security Adviser (NSA), Olayemi Cardoso,, Governor of the Central Bank of Nigeria (CBN)
Others include Emmanuel Itapson, President/CEO of IQS Africa, Representing the private sector, while the Technical Advisor to the President on Economic and Financial Inclusion, Nurudeen Abubakar Zauro (Secretary).
The Technical Implementation Committee (TechCo) which focuses on operationalizing the strategic direction provided by GovCo has the responsibility of “designing, implementing, and managing EFI initiatives on the ground, ensuring that they are technically feasible, effective, and scalable.
“TechCo is responsible for providing technical leadership and ensuring EFI initiatives are executed effectively. As part of its role, it bridges GovCo’s strategic direction with operational activities, ensuring that each initiative can be implemented successfully, is scalable, and is feasible,” the terms of reference noted.
The Technical Committee will design and implement frameworks for EFI initiatives, monitor budget compliance and timelines, drive innovation and technological integration, and advise GovCo on alignment with Aso Accord goals.
Key responsibilities of the subcommittee are as follows: Providing technical leadership for the implementation of the Aso Accord; developing the operational modalities for the implementation of the Aso Accord; leading the design and development of initiatives to address economic and financial inclusion challenges in Nigeria; developing a framework for data-driven monitoring, evaluation, and reporting of Aso Accord initiatives; promoting the adoption of innovative approaches to drive economic and financial inclusion, and providing technical advice to the governance committee.
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Director General, National Information Technology Development Agency (NITDA), Mr. Kashifu Inuwa Abdullahi, is Chairman of the TechCo, while Deputy Governor, Financial System Stability, Central Bank of Nigeria (CBN), Philip Ikeazor, is Deputy Chairman.
On the other hand, the subcommittee have Adeoye Odusote, Director General of the National Identity Management Commission (NIMC), Amina Maida, Executive Vice Chairman of the Nigerian Communications Commission (NCC), Tunji Bello, Director General of the Federal Competition and Consumer Protection Commission (FCCPC) and Olasupo Olusi, Managing Director, Bank of Industry,
Others include Director General, Nigerian Governors Forum, Abdulateef Shittu; Managing Director of the Nigerian Inter-Bank Settlement System (NIBSS) | Premier Oiwoh; National Programme Manager, National Cash Transfer Office (NCTO), Hassan Imam; Representative of Development Partners, Uche Amaonwu, Gates Foundation; Private sector representative, Stephen Ambore, Technical Lead on Economic and Financial Inclusion; Private Sector Representative| Modupe Ladipo, Founder/CEO Prosperar Consulting, and Technical Advisor to the President on Economic and Financial Inclusion | Dr Nurudeen Abubakar Zauro (Secretary).
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