Experts have identified key strategies that can be adopted towards addressing systemic gender bias, stereotyping, discrimination, and gender inequalities that exist in Nigeria, especially in access and use of formal financial services.
According to the experts, accelerating progress on eliminating the gender gap in access to financial services in Nigeria requires broad-based institutional reforms that put gender equality in the front burner.
A Webinar organised by the Gender Centre of Excellence at Rockefeller Philanthropy Advisors with the theme ‘Breaking Biases to Bridge the Gender Gap in Women’s Financial Inclusion in Nigeria’, provided an opportunity to reflect on gains in women’s financial inclusion.
The event was organised in collaboration with the Central Bank of Nigeria, Enhancing Financial Innovation and Access (EFInA), Lagos Business School, and Women’s World Banking to mark International Women Day.
Henrietta Bankole-Olusina, moderator and program director, Rockefeller Philanthropy Advisors Nigeria noted that the webinar highlights that IWD is a special day in which women are celebrated for their social, economic, and political achievements.
“Globally, it is a day to renew its commitment to work towards a fair and equitable world where both men and women can enjoy full rights and achieve their full potentials in all spheres of life.”
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According to Ashley Immanuel, chief executive officer, EFInA said bias is an inclination or prejudice against a person or group of persons in a way that could be considered unfair, for example favouring men/boys over women/girls.
She added that bias can be both conscious and unconscious, highlighting some gender stereotypes, biases and discrimination that exist which keep women from participating fully and benefitting from formal financial services.
Paul Oluikpe, head, financial inclusion delivery unit, CBN noted that the patriarchal system which considers the role of women as appendages and subordinates to men is most often culturally entrenched and religiously reinforced thereby making men to be dominant.
He pointed out that the current education system is narrow in terms of gender equality and people do not understand that gender equality could bring about systemic stability in social, economic, and political spheres of the society.
On what a gender-equal society will look like, David-West, associate dean and professor of Information Systems, Lagos Business School noted that the orientation should start from the family and in how people relate with one another and how children are treated right from when they are young.
According to Loise Maina, there is also a need for organizations to undertake gender pay gap analysis to ensure that women and men get equal pay for equal work done. According to UN Women, globally women receive equivalent to 77 percent of men’s earnings in similar roles, he noted.
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