Lagos Business School (LBS), through its Sustainable and Inclusive Digital Financial Services (SIDFS) initiative, has partnered with the federal government in a project to operationalise the Aso Accord on Economic and Financial Inclusion. SIDFS will collaborate with the federal government via the office of the Vice President, with funding support from The Gates Foundation. The programme is also supported by Augmentum Advisory, Banwo & Ighodalo, and Ndarani (SAN) & CO.
The project, led by the associate dean, Professor Olayinka David-West, aims to develop a governance and operating model to coordinate financial inclusion efforts in the country, aligning the mandates, obligations, and responsibilities of the regulators, operators, and implementing partners.
During the meeting to kick off the development of the operating model of the National Financial Inclusion Implementation (Policy) Unit convened by Vice President Kashim Shettima, the Vice President implored the implementation team to ensure the initiative’s success. “There is no greater calling than developing solutions to alleviate the impact of ongoing economic reforms on over thirty million financially excluded Nigerians,” the Vice President stated.
Unveiled on April 25, 2024, the Aso Accord is a comprehensive blueprint designed to ensure universal access to financial services for every Nigerian. This accord is integral to the Tinubu administration’s Renewed Hope Agenda, which aims to combat poverty and insecurity by fostering broad-based prosperity.
SIDFS, a research and advocacy initiative of Lagos Business School, was established to create an inclusive ecosystem for financial services. It fosters economic development and financial inclusion through strategic partnerships and innovative solutions.
SIDFS will also drive capacity-building initiatives and training for key government officials as part of the project. This aims to equip relevant stakeholders with the skills and practical knowledge to foster financial inclusion and accomplish the accord’s objectives.
Speaking at the kick-off meeting for the initiative’s implementation committee, the LBS programme lead, Professor Olayinka David-West, lauded the administration’s proactive stance on financial inclusion, reiterating Lagos Business School’s commitment to collaborating with all the key stakeholders to achieve the committee’s objectives.
The collaboration with the Vice President’s office and other stakeholders seeks to galvanise relevant authorities and ensure the initiative’s success. This engagement is crucial for identifying the right platforms and structures to drive the initiative forward, ensuring that every Nigerian has the opportunity to thrive.
