By Prosper Mene
In a landmark stride toward gender inclusion in Nigeria’s financial sector, the Central Bank of Nigeria (CBN) has achieved a significant milestone, with women now constituting 35% of its recently appointed directors. Governor Olayemi Cardoso emphasized this achievement as a testament to the bank’s commitment to fostering inclusive leadership, speaking at the grand finale of the International Women’s Day (IWD) celebrations held at the CBN headquarters in Abuja.
Cardoso highlighted the importance of gender equity, describing it as both a moral imperative and an economic necessity. “At the CBN, we are proud to be part of this global movement. Women now make up 35% of recently appointed directors and three out of the seven non-executive board members, showing our firm commitment to fostering inclusive leadership in Nigeria’s financial sector,” he stated. He highlighted that the growing presence of female leaders in top positions across banks and regulatory bodies is reshaping the industry, with the number of female managing directors in Nigerian financial institutions reaching an all-time high.
The event, which marked the culmination of IWD 2025 activities, also featured the “Inspiring Women Award,” an initiative by the CBN’s Change and Culture Transformation Unit (CCTU). Out of 806 nominations nationwide, 28 exceptional female staff members from branches including Awka, Dutse, Yola, Gombe, Oshogbo, Kaduna, Enugu, and Birnin Kebbi were honored for their outstanding contributions. Among the recipients, Deputy Governor Emem Usoro received the prestigious Amazon Award from Cardoso, recognizing her exemplary leadership since taking office.
Cardoso praised the contributions of newly appointed directors such as Daphne Dafinone, Nkiru Balonwu, and Shola Phillips, noting their pivotal roles in navigating complex challenges and shaping the bank’s policy direction. “Increasing women’s representation in leadership is not just ethical; it is a strategic necessity,” he said, adding that the rise of women in leadership at the CBN mirrors a global shift toward diverse and visionary governance.
Deputy Governor of Corporate Services, Emem Usoro, echoed Cardoso’s sentiments, emphasizing the urgency of the IWD 2025 theme, “Accelerate Action.” Citing a World Economic Forum report projecting full gender parity by 2054, she called on institutions to dismantle structural barriers and create opportunities for women. “This year’s program reflects our shared commitment to equity, inclusion, and institutional progress,” Usoro remarked.
The CBN’s push for gender equity is in terms with broader efforts to enhance financial inclusion, particularly for women and underserved groups. Recent initiatives, including the Women Entrepreneurs Finance Code and a Gender Desk within the Financial Inclusion Unit, shows the bank’s dedication to closing the gender gap in access to finance, a gap currently estimated at 9% in Nigeria.
