In order to provide 10 million Nigerians with financial literacy and inclusion skills, the Federal Government has started a free nationwide training program.

The effort would prioritise women and youth, according to a statement made by Stanley Nkwocha, the Senior Special Assistant to the President on Media and Communications. In order to promote sustainable wealth creation in Nigeria's growing digital economy, it will concentrate on essential financial skills, digital competencies, and investing expertise.

According to the statement, the Office of the Vice President is carrying out the initiative through the Presidential Committee on Economic & Financial Inclusion, which is presided over by Vice President Kashim Shettima.

The Nigeria Institute of Innovation and Entrepreneurship, the Chartered Risk Management Institute, the National Institute of Credit Administration, the Chartered Institute of Stockbrokers, the Chartered Institute of Bankers of Nigeria, and the Institute of Chartered Accountants of Nigeria are among the professional associations endorsing the initiative.

"A strategic national investment in capacity as infrastructure—the human, institutional, and ethical foundations on which inclusive growth must rest" is how Vice President Kashim Shettima characterised the signing of the Memorandum of Understanding between the Federal Government and six professional groups.

“Financial inclusion is not achieved by access alone, but by competence, trust, and capability. This MoU therefore establishes a working framework to harness the collective expertise of ICAN, CIBN, CIS, CRMI, NICA, and NIIE to advance inclusion through capacity building, advocacy, digital transformation, youth empowerment, and support for small and medium practitioners,” he added.

Senator Shettima stressed that the programme gives priority to women and youth, noting that Nigeria’s demographic dividend can only be realised if young people are equipped with the necessary skills and ethical foundation to thrive in a rapidly evolving digital economy.

Mallam Haruna Nma Yahaya, the president of ICAN, praised the government's economic changes and promised the program the expert assistance of the institute. The CEO of WAWU Africa, the program's technical partner, Mr. Emmanuel Lennox, confirmed that his organization is prepared to supply the digital platform and a supportive environment to guarantee efficient training delivery.

Dr. Nurudeen Abubakar Zauro, the President's Technical Advisor on Economic and Financial Inclusion, outlined the initiative's justification, stressing that financial inclusion necessitates not only access but also giving people and organisations the tools they need to use the infrastructure that is already in place in an ethical and sustainable manner.

The signing of the Memorandum of Understanding between the Federal Government and the six professional associations, which formally began the countrywide training program, was the event's high point.

Many young people in Nigeria lack access to formal employment or training possibilities due to the country's ongoing struggles with youth education and skill development.

According to recent labour force data for the first quarter of 2024, 14.4% of Nigerians between the ages of 15 and 24 were not enrolled in school, working, or participating in any kind of training, indicating a sizable portion of disengaged young.