Edun Urges Banks to Fund Youth Innovations to Drive Economic Growth
The Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called on banks and financial institutions to channel more resources toward supporting the innovative ideas of young Nigerians as a strategy to boost sustainable economic growth.
Edun made the call on Saturday at the 2025 Investiture Ceremony of the Chartered Institute of Bankers of Nigeria (CIBN), held at the Wole Soyinka Centre for Culture and Creative Arts in Lagos.
The event also featured the conferment of honorary fellowships and senior memberships on distinguished professionals in the banking and finance industry.
The finance minister, who was conferred with the honorary fellowship of the CIBN, said empowering young Nigerians through access to funding would prevent them from turning to informal or unregulated ecosystems outside the government’s control.
“Our youths are full of creativity and energy. What they need is the right financial support to turn their ideas into viable businesses. If we don’t finance them, they will look for alternative systems that may not align with national goals,” Edun said.
He emphasized that the banking sector plays a crucial role in achieving inclusive economic growth, adding that innovation and collaboration between the government and financial institutions are essential to unlocking Nigeria’s vast economic potential.
The event also honoured key figures in the Central Bank of Nigeria (CBN). Deputy Governors in charge of Corporate Services and Operations Directorates, Ms. Emem Usoro and Dr. Bala Bello, respectively, were conferred with the CIBN Honorary Fellowship Award.
In addition, the CBN’s Director of Strategy and Innovation Management, Monsurat Vincent, was recognised as an Honorary Senior Member of the institute for her contributions to innovation and strategic policy development in the banking sector.
The CIBN President, Dr. Ken Opara, commended the honourees for their exceptional service and reaffirmed the institute’s commitment to promoting professionalism, ethics, and innovation in Nigeria’s financial system.
Opara noted that the institute would continue to work with stakeholders to build a resilient banking industry capable of driving economic transformation and supporting government initiatives on youth empowerment and digital innovation.
The investiture ceremony brought together leaders from the banking industry, regulators, policymakers, and other stakeholders, all of whom pledged renewed commitment to fostering a more inclusive and innovative financial ecosystem.
