Written by Johnbosco Agbakwuru
Abuja — The Federal Government signed a Memorandum of Understanding (MoU) with six professional organizations on Monday, kicking off a free nationwide training initiative to equip 10 million Nigerians with digital skills, literacy, and financial inclusion.
Speaking at the flag-off ceremony at the Presidential Villa in Abuja, Vice President Kashim Shettima stated that Nigeria could only optimize her demographic dividend if women and young people were equipped with the necessary skills and moral foundation for a quickly developing digital economy.
Through the Presidential Committee on Economic and Financial Inclusion (PreCEFI), which is chaired by the Vice President, the Office of the Vice President is implementing a training program aimed at equipping Nigerians, especially women and young people, with the digital competencies, investment knowledge, and financial skills necessary for long-term wealth creation.
In order to strengthen Nigeria’s financial and enterprise workforce, the Office of the Vice President, through PreCEFI, inked a Memorandum of Understanding with six professional organizations to collaboratively establish training programs, certification pathways, digital skills initiatives, and mentorship platforms.
The Nigeria Institute of Innovation and Entrepreneurship (NIIE), the National Institute of Credit Administration (NICA), the Chartered Risk Management Institute (CRMI), the Chartered Institute of Bankers of Nigeria (CIBN), the Chartered Institute of Stockbrokers (CIS), and the Institute of Chartered Accountants of Nigeria (ICAN) are among the professional associations.
Shettima, who was speaking at the ceremony on behalf of President Bola Ahmed Tinubu, called the MoU a strategic national investment in institutional and human capability and said it was more than just a formal agreement.
“It is an important national investment in infrastructure—the ethical, institutional, and human pillars that inclusive growth must be built on,” he stated.
The Vice President clarified that financial inclusion extends beyond having access to financial services, as acknowledged by the Aso Accord on Economic and Financial Inclusion, which PreCEFI is required to implement.
Financial inclusion requires competence, trust, and capability in addition to access. A one-trillion-dollar economy cannot be built on shoddy skills, disjointed standards, or disjointed professional ecosystems, he stated.
He claims that the MoU creates a framework for utilizing the combined knowledge of the six professional associations to promote inclusiveness via advocacy, digital transformation, youth empowerment, capacity building, and assistance for small and medium-sized practitioners.
Shettima continued, “This collaboration establishes a structured mechanism for joint training programs, policy dialogue, digital skills development, and professional standards that align market practice with national inclusion goals.”
He emphasized that, in the absence of qualified experts in the fields of accounting, banking, risk management, credit administration, and innovation, financial inclusion would only exist as a catchphrase rather than a framework.
The Vice President emphasized the program’s emphasis on women and youth, stating that economic progress would only result from Nigeria’s demographic advantage if young people were given the necessary skills for the digital age.
“This partnership, which recognizes that Nigeria’s demographic dividend will only materialize if young people are properly equipped, prioritizes women and youth inclusion and digital transformation,” he stated.
Instead of viewing the MoU as a ceremonial document, Shettima advised PreCEFI and the partner universities to consider it as a living platform for execution.
Accordingly, he said, “I hereby flag off the free training of 10 million Nigerians, with priority for women and youths throughout the country, on behalf of President Bola Ahmed Tinubu, GCFR.”
Mallam Haruna Nma Yahaya, the president of the Institute of Chartered Accountants of Nigeria, had earlier praised the Tinubu administration for its economic reforms, claiming that they had made the financial inclusion training program possible.
Yahaya described participation in the program as an institutional honor and guaranteed the Vice President of ICAN of the initiative’s full professional assistance, stating that the initiative’s decision was influenced by the economy’s apparent improvements.
Speaking as well, Mr. Emmanuel Lennox, the Chief Executive Officer of WAWU Africa, the program’s technical partner, promised that the organization is prepared to carry out the project, especially in terms of supplying the digital platform and enabling environment for its success.
Dr. Nurudeen Abubakar Zauro, the Technical Adviser to the President on Economic and Financial Inclusion, gave an explanation of the initiative’s reasoning, stating that in addition to a lack of access, exclusion was also caused by a lack of institutional capacity and a lack of skills.
According to him, “financial inclusion is not achieved by infrastructure alone; it is achieved when people and institutions are equipped to use that infrastructure responsibly, productively, and sustainably.”
The official signing of the Memorandum of Understanding between the Federal Government and the six professional bodies for the capacity-building program was the event’s high point.
