Banking
CBN Engages Gombe Women, Youths to Deepen Financial Inclusion
By Adedapo Adesanya
The Central Bank of Nigeria (CBN) has enrolled about 25,000 unbanked women and youths in Gombe State as part of efforts to implement the framework for advancing women’s financial inclusion in Nigeria.
The apex bank also said it was building on its account opening drive to ensure digital financial inclusion in the state.
The Director of Development Finance Department at CBN, Mr Yusuf Yika, while speaking in Deba Local Government Area of the state, stated that the drive would feature awareness creation on financial literacy as well as provide an opportunity for women and the youth in the community to take advantage of the financial products and services.
In December 2019, a pilot account opening drive was held with over 82,000 new accounts opened across six states: Bayelsa (South-South), Ebonyi (South-East), Gombe (North-East), Kano (North-West), Nasarawa (North-Central) and Ondo (South-West).
Represented by the branch manager, Gombe CBN, Mr Shehu Goringo, Mr Yika noted that the programme would be held across five local government areas including, Biliri, Kaltungo, Yemaltu- Deba, Akko, and Dukku.
Mr Yika said, “The financial inclusion drive is an initiative of the Central Bank of Nigeria, and other stakeholders to improve access of unbanked Nigerians to financial services and this year, we are kicking it off this November as part of the international Financial Inclusion Week celebrated globally.
“This means that throughout this week, financial services providers will be available to help unbanked women and youth make informed decisions about product uptake including savings accounts, micro pensions, micro insurance, BVN registration and NIN registration amongst others. There will also be opportunities to learn about investment opportunities and how to sustainably grow your finances.
“The tag line for the drive; ‘Open account, Get beta Life’ and the proposed target for the number of impressions (women and youth engaged, products deployed to) is 25,000 in Gombe State.”
On her part, Mrs Sophia Abu, of the Financial Inclusion Delivery Unit of the CBN, stressed that the week was geared towards bringing financial operations closer to the people.
“We have brought them to their doorsteps, we brought them here to help these women open accounts, to register BVN for those who don’t have and to register for their National Identity Number because we know that it is one of the barriers to access finance especially for women and youth in access points,” she said
She noted that the week would highlight the importance of getting relevant details like the BVN, NIN, adding that with the inclusion of women and youth, they would be discouraged from dealing with illicit financial operators.
“Essentially, we are trying to build the savings culture because we want to ensure these people save in formal financial services that are regulated so that they don’t go through negative practices from money lenders and others.
“So, they are able to save in formally regulated institutions then it will be easy for them if there are opportunities by the federal government to access those opportunities because like we all know federal government sometimes hands out conditional cash transfers and even interventions. So, if you don’t have a BVN or bank account it will be difficult to access those opportunities,” Mrs Abu added.
Also speaking, Emir of Deba, Ahmed Usman, commended the CBN for assisting his people to be financially inclusive.
He, however, called on the women and youth to take the opportunity provided seriously, adding that “Opening bank accounts will help you conduct business transactions with your partners across the world.”
By Aduragbemi Omiyale
A collaboration to enable fast money transfers into Nigeria has been entered into between Flutterwave and Xoom, PayPal’s international digital money transfer service.
The partnership allows Xoom transfers to be converted by Flutterwave and settled locally in Naira, enabling quick transfers directly into recipients’ bank accounts at Access Bank, UBA, Zenith Bank, First Bank, GTBank, and additional participating banks across Nigeria.
The deal also enables Xoom’s global network with Flutterwave’s local payout infrastructure, allowing users globally to send funds directly into Nigerian bank accounts with improved speed and efficiency.
Nigeria is the leading remittance recipient in Sub-Saharan Africa, receiving over $20 billion in personal remittances in 2024. Despite this volume, receiving international payments has historically remained complex due to FX constraints and settlement delays. This collaboration helps address those challenges in a market of more than 232 million people, where the ICT sector is projected to contribute 21 per cent of GDP by 2027.
By combining Xoom’s expansive reach with Flutterwave’s local compliance and banking partnerships, the two companies are providing a more accessible financial corridor for the continent.
Xoom, a PayPal service, is a fast and secure international digital money transfer service that enables consumers to send money, pay bills, and reload phones for friends and family in approximately 160 markets globally.
As part of PayPal’s global payments ecosystem, Xoom leverages advanced fraud protection, compliance capabilities, and a trusted global network to help millions of customers move money quickly and securely across borders.
“We’re excited to have been chosen by Xoom for their Nigeria expansion. Millions of Nigerians rely on money from abroad to support everyday needs, whether it’s families receiving help from loved ones, freelancers getting paid for their work, or individuals earning income from the global economy. This helps make it easy and more reliable for people in Nigeria to receive funds and stay connected to opportunities beyond borders,” the chief executive of Flutterwave, Mr Olugbenga GB Agboola, stated.
By Aduragbemi Omiyale
An initiative known as Nigeria Lightning Rounds, designed to expand funding opportunities for Nigerian startups and small businesses by connecting founders with local and international investors, has been launched by ProvidusUnity Bank, in partnership with US-based global venture firm and accelerator, gener8tor.
Scheduled to be held on July 15, 2026, Nigeria Lightning Rounds will feature carefully selected startups engaging with targeted investors who have expressed interest in supporting Nigerian innovation.
Participating founders will have the opportunity to pitch their businesses through focused 15-minute virtual sessions facilitated by gener8tor and ProvidusUnity Bank’s networks.
The program will focus on high-growth sectors including fintech, healthtech, manufacturing, sustainability, and AI, but welcomes SMEs from all industries, with intending participants urged to apply via https://www.gener8tor.com/lightning-rounds/nigeria.
“We recognise that access to capital remains one of the biggest challenges facing entrepreneurs in Nigeria. Through our partnership with gener8tor, we are creating a platform that connects promising Nigerian founders with investors who can provide the support required to scale their businesses,” the Head of Business Development at ProvidusUnity Bank, Mr Ernest Elue, stated.
“The partnership reinforces ProvidusUnity Bank’s commitment to strengthening Nigeria’s entrepreneurial ecosystem by supporting innovation, enabling access to opportunities, and creating pathways for businesses with high-growth potential,” he added.
Also commenting, the Director of Lightning Rounds at gener8tor, Ms Elizabeth Larios, said, “gener8tor is thrilled to partner with ProvidusUnity Bank to extend the Lightning Rounds model into Nigeria.
“This collaboration reflects our commitment to building equitable ecosystems and driving capital to the most promising and underrepresented entrepreneurs.”
Lightning Rounds are a signature initiative of gener8tor’s investment platform, which has facilitated thousands of investor-startup meetings globally. The format is optimised to eliminate friction, reduce bias in early-stage fundraising, and help founders secure capital from investors aligned with their mission and stage. gener8tor’s previous Lightning Rounds for Nigerian Founders in 2025 featured 18 participating Investors and led to 50 investment meetings facilitated.
By Modupe Gbadeyanka
The verification of the depositors of the 46 microfinance banks, whose operating licenses were revoked by the Central Bank of Nigeria (CBN) over a week ago, has commenced.
The exercise, aimed at refunding those whose funds were trapped in the small lenders, is being conducted by the Nigeria Deposit Insurance Corporation (NDIC).
In a statement on Thursday, the agency said its staff members have been positioned at the offices of the affected banks across the country to attend to depositors.
It was disclosed that depositors of the defunct banks, who had their Bank Verification Numbers (BVNs) linked to their accounts in the failed banks, will be paid through their alternative accounts in existing banks.
However, depositors whose BVNs were not linked to their accounts in the failed banks have been encouraged to visit the affected banks’ offices with proof of account ownership, a passport photograph, verifiable means of identification (Driver’s Licence, Permanent Voter’s Card, International Passport or National ID Card) and BVN.
NDIC also stated that depositors can alternatively file their claims online through its website: www.ndic.gov.ng, to complete the Pre-Verification Claims Form by clicking on the Search Bar, and typing Pre-Verification Claims Form; opening the Form and filling in their details. They can also do so by clicking the link: https://ndic.gov.ng/ndic-pre-verification-claims-form/ or by visiting any of the NDIC offices closest to them to file their claims.
For further enquiries, the corporation can be reached on any of the following lines: 09037273810, 09038197064, 08104220807, 09064657140.
