Federal Government Launches Free Financial Literacy Training in Nigeria for 10 Million Citizens

Federal Government Launches Free Financial Literacy Training in Nigeria for 10 Million Citizens

The Federal Government of Nigeria has launched a free financial literacy training in Nigeria aimed at empowering 10 million citizens across all states of the federation. The programme focuses on strengthening financial inclusion, digital skills, and investment knowledge, with special attention given to women and young Nigerians.

The initiative was officially flagged off on Monday at the Presidential Villa, Abuja, by Vice President Senator Kashim Shettima on behalf of President Bola Ahmed Tinubu.

Vice President Highlights Role of Youths and Women

Speaking at the event, Vice President Shettima stated that Nigeria can only unlock its demographic dividend when young people and women are equipped with the skills and ethical foundation required for a rapidly evolving digital economy.

He explained that the free financial literacy training in Nigeria is designed to prepare citizens for sustainable economic participation, rather than simply providing access to financial services.

Programme Implemented Through PreCEFI

The nationwide training programme is being executed by the Office of the Vice President through the Presidential Committee on Economic and Financial Inclusion (PreCEFI), chaired by the Vice President.

The committee is responsible for implementing the Aso Accord on Economic and Financial Inclusion, which emphasizes that financial inclusion must be driven by competence, trust, and capability.

Strategic Partnership With Professional Bodies

As part of the initiative, the Federal Government signed a Memorandum of Understanding (MoU) with six leading professional bodies to jointly design and deliver training programmes, certification pathways, digital skills initiatives, and mentorship platforms.

These partnerships are central to the success of the free financial literacy training in Nigeria, ensuring that professional standards align with national inclusion goals.

List of Participating Professional Institutions

The professional bodies involved in the programme include:

• Institute of Chartered Accountants of Nigeria (ICAN)
• Chartered Institute of Bankers of Nigeria (CIBN)
• Chartered Institute of Stockbrokers (CIS)
• National Institute of Credit Administration (NICA)
• Chartered Risk Management Institute (CRMI)
• Nigeria Institute of Innovation and Entrepreneurship (NIIE)

Capacity Building as the Foundation of Inclusion

Vice President Shettima described the MoU as a strategic national investment in human and institutional capacity. He noted that Nigeria cannot build a one-trillion-dollar economy on weak skills, fragmented standards, or disconnected professional ecosystems.

According to him, the free financial literacy training in Nigeria will promote capacity building, digital transformation, youth empowerment, and support for small and medium-scale enterprises.

Why Skills Matter More Than Access Alone

The Vice President emphasized that financial inclusion cannot succeed without skilled professionals. He explained that accountants, bankers, credit administrators, risk managers, and innovators must understand modern financial systems and digital risks.

Without these competencies, he noted, financial inclusion remains a slogan rather than a sustainable system.

Focus on Youth and Women Empowerment

Reaffirming the programme’s priorities, Shettima stated that women and youths would be at the centre of the initiative. He stressed that Nigeria’s economic future depends on preparing young people for responsible participation in a fast-growing digital economy.

The free financial literacy training in Nigeria is therefore structured to close gender and youth inclusion gaps.

Official Flag-Off of the Training Programme

On behalf of President Bola Ahmed Tinubu, the Vice President formally declared the commencement of the free nationwide training of 10 million Nigerians, with priority given to women and youths across the country.

ICAN Commends Federal Government’s Economic Reforms

Earlier, the President of the Institute of Chartered Accountants of Nigeria, Mallam Haruna Nma Yahaya, praised the Tinubu administration for its economic reforms, noting that the training initiative reflects growing economic stability.

He assured the Federal Government of ICAN’s full professional support, describing participation in the programme as an institutional honour.

Technical Partners Assure Digital Support

The Chief Executive Officer of WAWU Africa, Mr Emmanuel Lennox, assured stakeholders of the company’s readiness to provide the digital platform and enabling environment needed to ensure the success of the programme.

Addressing the Root Causes of Financial Exclusion

The Technical Adviser to the President on Economic and Financial Inclusion, Dr Nurudeen Abubakar Zauro, explained that financial exclusion is often caused by limited skills and weak institutional support.

He added that financial inclusion is only effective when people and institutions are equipped to use financial infrastructure responsibly and sustainably.

MoU Signing Marks Key Milestone

The highlight of the event was the signing of the MoU between the Federal Government and the six professional bodies, marking a major step toward strengthening financial inclusion and economic empowerment through the free financial literacy training in Nigeria.

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