Meet the women driving financial inclusion in Nigeria

In a country where financial exclusion has long been a challenge, a group of Nigerian women are breaking barriers and redefining financial inclusion.

These innovators are leveraging technology, policy advocacy, and community-driven solutions to bring financial services to underserved populations, particularly women and small-scale entrepreneurs.

According to an Access to Finance survey by Enhancing Financial Innovation and Access (EFInA), Nigeria’s financial inclusion rate grew to 74 percent in 2023 from 64.1 percent in 2020. However, the body targets an 80 percent inclusion rate by 2030.

It said the excluded adult population of 28.9 million recorded in 2023 fell from 38.1 million in 2020, meaning 9.2 million adults left the exclusion circle in two years to 2023.

Read also: Bridging the gap: Dominic Joshua on digital innovation and financial inclusion in Nigeria

This indicates that more people are gradually embracing financial inclusion despite challenges such as internet accessibility, financial literacy, and regulatory constraints.

BusinessDay, in this report, is recognising women who are changing the landscape of financial inclusion in Nigeria and beyond. Their pioneering efforts are not only transforming the financial sector but also paving the way for future generations of women to lead in finance, technology, and policymaking.

As Nigeria advances toward a more financially inclusive society, these women stand as beacons of progress and innovation.

Foyinsola Akinjayeju – CEO of EFInA

Foyinsola Akinjayeju is the chief executive officer of EFInA, Nigeria’s financial inclusion advocacy organisation. She has over 20 years of cross-functional experience with expertise in strategy, business management, and consulting. She has a proven track record of fostering business growth, competitiveness, and sustainability across industries.

Her career spans education delivery, oil and gas services, and corporate strategy. She played key roles in unbundling business divisions, fundraising, and organisational design. With extensive cross-border experience in Nigeria, Benin, Togo, Burkina Faso, and Japan, she has promoted ‘Into-Africa’ investments by Japanese and East Asian businesses. Fluent in English and French.

She previously held executive positions at Phillips Consulting as an associate partner and at Bridge as managing director. She also founded Nestor & Alfreda, a consulting firm focused on business transformation.

Her journey began at PwC, where she honed expertise in finance, advisory, and risk management. At Amazon Energy Limited, she served as strategy and planning manager and acting head of administrative procurement. Her transformational leadership and strategic vision position her to drive financial inclusion and economic development at EFInA.

She is an alumna of Obafemi Awolowo University, where she graduated with a B.Sc. Hons, in Sociology and Anthropology and Lagos Business School, Pan-Atlantic University Lagos where she did her master’s in business administration.

Folasade Femi-Lawal – Country Manager for West Africa, Mastercard

Folasade Femi-Lawal is the new country manager and area business head for West Africa. She has over 25 years of multifaceted experience spanning financial services, management consulting, telecommunications, and business advisory services.

Femi-Lawal has played a significant role in digital banking transformation, having led mobile financial services and digital banking strategy at First Bank Nigeria. She previously headed the Cards & Messaging Business Unit, driving a substantial increase in card subscriber base and market share.

Her career also includes key roles at United Bank for Africa, PwC, and Airtel, where she managed the regional balanced scorecard across eight regions. As a passionate mentor and advocate for women, she is actively involved with Women in Management, Business, and Public Service (WimBiz) and the Academy for Women Entrepreneurs (AWE).

Ifeoma Uddoh – CEO, SheCluded

Ifeoma Uddoh is the CEO of SheCluded, a female-focused fintech company committed to empowering women through financial services. She has over a decade of experience in consulting, analytics, and seed funding, having worked with PwC and IROKO Partners Limited.

Uddoh is a recognised expert in gender-lens financing and has been featured on entrepreneurship panels and masterclasses hosted by First Bank, Johns Hopkins University, and Tekedia Institute. She holds a B.Tech in Industrial Mathematics from the Federal University of Technology, Owerri, and a master’s in Management Science and Operations Research from Lancaster University.

Her leadership at SheCluded is driving financial inclusion, investment opportunities, and business growth for women across Nigeria.

Read also: Moniepoint to deploy 5 million AfriGO cards in financial inclusion boost

Uche Uzoebo – CEO of SANEF

Uche Uzoebo is the new managing director and chief executive officer of the Shared Agent Network Expansion Facilities (SANEF) Limited.

Uzoebo previously held the position of Chief Distribution and Stakeholder Engagement Officer at SANEF. She worked with regulators, banks, and financial service providers on expanding financial access points and digital services.

With over 20 years of experience in banking and financial services, Uzoebo has focused on financial inclusion and digital transformation projects. She holds certifications as a Product Manager and Licensed National Business Development Service Provider. Her professional memberships include the Chartered Institute of Bankers of Nigeria, where she serves as an Honorary Senior Member.

Uzoebo participated in projects related to economic inclusion and digital transformation. She has spoken at finance industry conferences and contributed to publications in the field.

She is an alumna of Abia State University, where she graduated with a B.Sc. in Microbiology, General and Lagos Business School, Pan-Atlantic University Lagos, where she did her master’s in building and enhancing financial business models for financial inclusion.

Ebehijie Momoh – CEO of AFRIGO

Ebehijie Momoh is the managing director/CEO of AfriGOPay Financial Services Limited (AFSL), Nigeria’s national domestic card scheme designed by a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS).

Momoh brings over 30 years of extensive experience in the financial services industry to her pivotal role as MD/CEO. She began her career at Guaranty Trust Bank (GTB) and has held strategic leadership positions at Diamond Bank Plc (now Access Bank Plc), First City Monument Bank, Standard Chartered Bank, and most recently, as senior vice president and country head, West Africa at Mastercard.