DIGITAL FINANCIAL SERVICES: CADEF LEADS THE CHARGE FOR INCLUSION AND EMPOWERMENT IN NIGERIA

As digital financial services revolutionize Nigeria’

As digital financial services revolutionize Nigeria’s economy, CADEF, in partnership with Consumers International, is ensuring that underserved communities, especially PWDs, are not left behind. By fostering partnerships with policymakers, financial institutions, and fintech companies, CADEF is working to build a secure, inclusive, and accessible financial system.

Empowering Through Digital Financial Literacy

1. Hearing-Impaired Youths: First Steps Toward Inclusion
   On August 24, 2024, CADEF launched its Digital Financial Literacy Training for Hearing-Impaired Youths at RCCG My Father’s House, Lagos. This event empowered participants with essential financial skills, focusing on:

• Budgeting and saving basics
• Digital banking tools and solutions
• Fraud prevention and financial security

This milestone underscores CADEF’s dedication to ensuring no one is left behind in Nigeria’s digital financial revolution.

2. Visually Impaired Participants: Enhancing Digital Inclusion
   On September 5, 2024, CADEF extended its outreach to visually impaired youths through a workshop at the Cedar Centre, Lagos, with 34 participants in attendance. This session went beyond financial education, addressing challenges unique to visually impaired individuals.

Key discussions included:

• Advocating for accessible digital tools tailored to PWDs
• Proposing inclusive banking policies to the Central Bank of Nigeria (CBN)

The workshop highlighted the need for continued stakeholder collaboration to eliminate barriers and foster inclusion.

Together, through these efforts, CADEF is driving Nigeria toward a future where financial services are accessible to all. Let’s continue to champion inclusion, empowerment, and equity—because a better tomorrow starts today!

#CADEFImpact #FinancialInclusion #DigitalLiteracy

 

Pioneering Inclusion Among Stakeholders: CADEF Leads the Way

(The Lagos Stakeholders’ Meeting)

Consumer Advocacy and Empowerment Foundation (CADEF) has once again demonstrated its commitment to inclusivity in Nigeria’s digital financial sector. Building on the success of its training programs for hearing and visually impaired youth, CADEF recently hosted a landmark stakeholders’ meeting in Lagos to address accessibility challenges in digital finance.

A Groundbreaking Dialogue

The event brought together key stakeholders, including:

• Representatives from the Persons with Disabilities (PWDs) community
• Fintech companies
• Traditional banks
• Lagos Business School
• Police Microfinance Bank, and more

This meeting provided a unique platform for PWDs to voice their concerns, share their experiences, and engage directly with industry leaders and policymakers capable of driving meaningful change.

Key Outcomes and Stakeholder Commitments

The meeting concluded with significant pledges from stakeholders to address the barriers faced by PWDs in accessing digital financial services. The commitments include:

1. Accessible Digital Platforms
   Develop mobile banking apps and ATMs with features such as text-to-speech capabilities, high-contrast screens, and simplified navigation to accommodate the needs of PWDs.
2. Accessibility Audits
   Conduct comprehensive reviews of existing digital financial products to identify and remove obstacles for PWDs.
3. Regulatory Frameworks
   Collaborate with policymakers to create and enforce regulations that mandate accessibility in digital financial solutions.
4. Awareness and Training
   Launch educational campaigns and hands-on training programs tailored to PWDs, empowering them to use digital financial tools confidently.
5. Incentives for Inclusion
   Introduce financial incentives and subsidies for fintech companies and banks to encourage the development and widespread adoption of inclusive solutions.

Towards a More Inclusive Future

The Lagos stakeholders’ meeting was a significant step toward bridging the accessibility gap in Nigeria’s financial ecosystem. By fostering open dialogue and collaboration, CADEF is ensuring that the voices of PWDs are not only heard but acted upon.

Prof. Chiso Ndukwe-Okafor, CADEF’s Executive Director, emphasized the importance of such engagements:
“True inclusion begins when we listen to the voices of the marginalized and act collectively to address their concerns. This meeting marks the beginning of a broader movement to build an inclusive financial ecosystem in Nigeria.”

A Collective Mission for Change

While the journey toward inclusivity continues, the success of this event highlights the transformative potential of collaboration and shared responsibility. With the commitments made, CADEF and its partners are charting a course toward a future where no one is left behind in Nigeria’s digital financial revolution.

Together, we can create a financial system that empowers all Nigerians, regardless of ability.

Driving Policy Change: High-Level Roundtable on PWD Inclusion

Building on the momentum of the Lagos stakeholders’ engagement, the Consumer Advocacy and Empowerment Foundation (CADEF), in collaboration with the Federal Competition and Consumer Protection Commission (FCCPC), hosted a landmark policy roundtable in Abuja. This high-level event tackled the barriers preventing Persons With Disabilities (PWDs) from accessing financial services, with a focus on advancing financial literacy, inclusion, and empowerment.

The roundtable also championed the advocacy for a PWD Bill of Rights, a legislative framework designed to address systemic challenges and enhance accessibility to digital financial services for PWDs.

Stakeholder Engagement

The event brought together regulators and key decision-makers, including:

• Federal Competition and Consumer Protection Commission (FCCPC)
• Central Bank of Nigeria (CBN)
• National Commission for Persons with Disabilities (NCPWD)
• Financial institutions and fintech companies
• Disability rights organizations

This diverse representation underscored a shared commitment to fostering a financially inclusive ecosystem prioritizing accessibility, security, and equity.

Voices from the Roundtable

• Nwafor Anthony, FCCPC Deputy Director, reaffirmed the Commission’s dedication to protecting consumer rights, especially for PWDs, highlighting ongoing initiatives to promote inclusivity.
• Prof. Chiso Ndukwe-Okafor, CADEF Executive Director, stressed the urgency of systemic reform:
  “Policy gaps limit PWDs’ access to essential services. This roundtable marks a critical step toward bridging those gaps and fostering equity.”

Key Outcomes of the Roundtable

1. Formation of a Technical Working Group (TWG):
   A dedicated committee was established to draft a PWD Bill of Rights, aimed at embedding accessibility and inclusivity within Nigeria’s financial services sector.
2. Institutional Commitments:
   Stakeholders, including regulatory bodies and financial institutions, pledged to:

• Enhance the accessibility of digital financial tools and platforms.
• Strengthen the security and transparency of services for PWDs.
• Actively support the proposed Bill of Rights through participation and implementation.

3. Actionable Recommendations:
   The roundtable generated practical strategies to address policy gaps and operational inefficiencies, ensuring a more inclusive financial system for vulnerable populations.

Looking Ahead

This policy roundtable marked a turning point in CADEF’s mission to drive financial inclusion for PWDs in Nigeria. By fostering collaboration among stakeholders, CADEF is laying the groundwork for sustainable, inclusive policy reforms.

The formation of the Technical Working Group and the advocacy for the PWD Bill of Rights represent bold steps toward systemic change. CADEF remains steadfast in its commitment to empowering vulnerable populations and ensuring that no one is left behind in Nigeria’s digital financial revolution.

Together, we can create a future where accessibility and equity are not just aspirations but realities for all.

#CADEF #PWDInclusion #PolicyChange #DigitalFinance #Empowerment