CBN to champion increased management roles for women

In recognition that gender equality is necessary sustained development, Central Bank of Nigeria (CBN) will continue to push for the inclusion of more women in managerial and management positions in the financial services sector.

Governor of the bank, Mr Godwin Emefiele who made this known at the celebration of International Women’s Day and CBN Women’s Week in Abuja on Thursday said the number of female directors in the CBN has moved from one in 2001 to six in 2017.

He said that there is need to increase the level of participation of women in key positions in the private sector adding that a situation where three out of the 27 chief executive officers of banks in Nigeria is not acceptable.

Similarly, he said that the percentage of women employees in the CBN has moved from 24 per cent in 2013 to 28 per cent in 2017.

According to him, CBN has over the years, implemented various programs and policies aimed at developing the economic potentials and development of women.

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“In realization of male domination of senior positions of the financial industry, the Bankers’ Committee adopted the quota system to increase women representation on Boards to 30 per cent and that of senior management level to 40 percent by 2014.

“As a result of today, 3 out of the 27 Bank CEOs are female with three women appointed as Chair of the Boards of three Banks for the first time.

“Despite this progress, it is obvious we have not met our goals. Therefore, we have to work much harder to improve these numbers and attain our objectives.

“In recognition of the fact that gender equality and diversity are powerful tools for economic growth, the CBN institutionalized policies and programmes to overcome some of the barriers that are hampering women from rising to the top of their careers.

Speaking earlier, Special Adviser to the CBN Governor on Sustainable Banking, Dr Aisha Mahmood, said that women were key to the economic development of Nigeria.

“It has been proven that women have immense potentials as engines of growth and economic development.

“Consequently, empowering them becomes beneficial to the society at large,” she said.