Economy
Coalition Of Women Entrepreneurs Demands 40% Allocation Of MSME Loans
Coalition Of Women Entrepreneurs Demands 40% Allocation Of MSME Loans
Coalition of women entrepreneurs demands 40% allocation of MSME loans. The group also urged the government to introduce and enforce gender-responsive financial reforms through inclusive policy-making.
A coalition of women entrepreneurs has appealed to the government and financial institutions to allocate at least 40 per cent of micro, small and medium enterprise loans to women-owned businesses.
The group also urged the government to introduce and enforce gender-responsive financial reforms through inclusive policy-making.
According to a statement on Monday, no fewer than 2,500 Nigerian bank customers have signed a petition calling for increased funding for women entrepreneurs.
The coalition had previously launched a nationwide campaign on April 23, addressing the financial exclusion female entrepreneurs face. It noted that despite their contributions to Nigeria’s economy, women remain largely underserved, receiving less than 10 per cent of small business loans.
This figure, it argued, stands in stark contrast to women’s proven track record of loan repayment and financial discipline.
The coalition called on financial institutions, government agencies, and other relevant stakeholders to dismantle systemic barriers and take proactive steps to improve women’s access to credit.
It stated that its ongoing campaign seeks to create more equitable financing opportunities for women in business. The group noted the disparity in access to capital and urged banks to modernise their lending practices by adopting inclusive models that reflect current economic realities.
The coalition further noted that outdated collateral demands, such as requiring proof of land ownership, hinder women’s credit access.
Mojisola Hunponu-Wusu of Woodhall Capital noted that although women repay 95 per cent of their loans, they receive less than 10 per cent of SME financing.
She urged the Central Bank of Nigeria to take concrete action.
The coalition called on the CBN governor to make a public commitment to setting a minimum 30 per cent gender-based MSME lending target for commercial banks to help bridge the funding gap.
Supporting this stance, Habibah Waziri, the managing director of BGR Consulting, noted that 34 per cent of Nigerian women aspire to grow their businesses, but continue to face systemic obstacles.
“Nigerian women drive half of the nation’s economy, yet less than 10 per cent of SME funding is allocated to them. Closing this funding gap is vital for economic development and gender equity,” she said.
The coalition also demanded that policymakers commit to structural changes by establishing dedicated credit schemes for women and simplifying loan requirements using alternatives like cash flow-based financing.
MSMEs
Joy Una, a leading voice in the WEEWantMore campaign, said it is indefensible for banks to continue relying solely on traditional collateral requirements when more inclusive, cash flow-based lending systems can serve credible women entrepreneurs.
“What we’re witnessing is not only exclusion, it’s a missed economic opportunity. Institutions that modernise their approach stand to benefit from loyal customers, improved loan repayment rates, and long-term growth,” the coalition said.
FG Inaugurates PenCom Board, Tasks Members On Protection Of Pension Assets
The Federal Government has inaugurated the Board of the National Pension Commission, reinforcing its commitment to transparency, accountability, and the protection of over ₦28 trillion in pension assets.
Speaking at the ceremony, the SGF, Senator (Dr.) George Akume, charged members to uphold strong corporate governance while maintaining a clear boundary between oversight and management.
PenCom
The Board, led by Chairman Agbaje Opeyemi Olukayode, pledged to safeguard contributors’ funds and support national development, while the Director-General Omolola Oloworaran reaffirmed commitment to collaboration in delivering secure and timely retirement benefits for Nigerians.
SEC Sign MoU With NYSC To Fight Ponzi Schemes
SEC sign MoU with NYSC to fight Ponzi schemes. The initiative was designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.
The Securities and Exchange Commission and National Youth Service Corps have signed a memorandum of understanding to establish a community development service group focused on investment education for corps members.
The initiative was designed to sensitise young Nigerians to the risks of fraudulent investment schemes and promote sound, legitimate investment practices.
According to a statement by the SEC on Sunday, the MoU was recently signed by its director-general, Emomotimi Agama and NYSC director-general, Olakunle Nafiu.
It was also meant to promote financial literacy and sound investment habits among young Nigerians.
In addition, the collaboration will help equip corps members with essential knowledge and skills to identify and avoid Ponzi schemes and other illegal investment practices.
It will also help enhance public awareness campaigns against illegal financial schemes across all LGAs in the country, among other objectives.
“Based on the scope of the collaboration, SEC shall develop and provide relevant and up-to-date educational content, materials, and training modules on capital market operations, safe investment practices, and the identification and avoidance of Ponzi schemes.
“SEC will also be responsible for the content, resources and funding of training sessions for selected corps members and NYSC supervisors who will serve as trainers and facilitators in their respective communities.
SEC
“On its part, the NYSC shall facilitate the integration of anti-Ponzi scheme education into its Education and Enlightenment CDS programme. This may involve dedicated sessions, workshops, or awareness campaigns during orientation camps and throughout the service year,” said the statement.
The parties shall collaborate on joint awareness campaigns, utilising various channels and platforms, including social media, traditional media, and community outreach, to disseminate information on safe investment and expose fraudulent schemes.
Persistent Grid Collapse, Weak Power Supply Worsening Economic Hardship: Oyintiloye
Speaking with journalists on Sunday in Osogbo, Oyintiloye said the situation had continued to deteriorate despite assurances and reforms introduced by authorities.
He described unreliable electricity as a major setback to the federal government’s reforms in the power sector.
He appealed to President Bola Tinubu to urgently intervene, noting that poor power supply is worsening economic hardship across the country.
Oyintiloye said the poor supply has compounded the effects of the current heatwave, making living conditions more difficult for many Nigerians.
The former lawmaker called for the constitution of a panel to investigate recurring national grid collapses and persistent supply challenges despite significant investments.
“It is a terrible situation across Nigeria with persistent poor power supply,” he said.
“Many small-scale businesses and large industrial players are affected, while most homes cannot boast of even three hours of electricity supply daily for domestic use.
“Despite numerous reforms and promises, the national grid continues to collapse. The situation is now compounded by gas supply shortages, weak transmission infrastructure, and chronic underinvestment across the power value chain.
“Nigerians are groaning, and urgent action must be taken by the Minister of Power, Adebayo Adelabu, and his team. The situation cannot continue like this.”
Oyintiloye warned that the situation has already triggered protests in parts of the country and could escalate if not addressed promptly.
“The situation must be quickly addressed before it becomes a national embarrassment. Nigerians need to be informed whether the issue is due to structural failure or sabotage within the power sector,” he said.
Electricity
“This epileptic power supply has led to a series of peaceful protests nationwide. I appeal for the President’s intervention before these protests turn violent.
“Electricity is essential for households and the survival of businesses. Since the end of last year, there has been no stable power supply across the country, despite assurances by those in charge and huge investments in the sector.
“Poor power supply should not be added to the challenges Nigerians are currently facing. The high cost of fuel has also made it difficult for those relying on generators to cope.”
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