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On Tuesday, March 8, 2022, the Nigerian Exchange Group of Companies, in collaboration with the International Finance Corporation (IFC), the Sustainable Stock Exchanges (SSE) Initiative, the United Nations (UN) Women, the United Nations Global Compact (UNGC), and the World Federation of Exchanges (WFE), rang the bell for gender equality to commemorate the 2022 International Women’s Day and Ring the Bell for Gender Equality.
The event featured the Honorable Minister of Women Affairs, Dame Pauline Tallen (OFR), and the Honorable Minister of State for Industry, Trade and Investment, Amb. Mariam Katagum, with the topic “Break the Bias: Gender Equality Today for a Sustainable Tomorrow.” It brought together stakeholders to discuss the important issues that could impede progress toward gender equality.
“The global finance industry has a key role to play in promoting gender equality,” stated Mr. Oscar N. Onyema, OON, Group Managing Director/Chief Executive Officer, Nigerian Exchange Group Plc (NGX Group), in his opening remarks. As the world calls for additional financial reallocation to meet the Sustainable Development Goals, climate change, and other pressing concerns, stakeholders must reevaluate finance’s role in solving gender issues. If promoting gender issues was viewed as a business opportunity or a transaction, favourable policies would need to be put in place to allow investors to recoup their losses. We at the NGX Group of Companies are committed to doing our part by implementing a variety of activities targeted at fostering gender diversity and women’s empowerment.”
“We recognise our strategic position as the engine of growth of Africa’s largest economy and we leverage this unique position to promote the adoption of sustainable business practises, reporting, and foster the growth of long-term sustainable finance,” Temi Popoola, Chief Executive Officer, said of the potential of collaboration to promote gender equality. The NGX Group of Companies is committed to championing efforts to advance gender equality across our ecosystem by introducing gender-responsive and inclusive financial instruments, advocating for increased female participation on boards and in senior management, and supporting capacity-building initiatives to help companies achieve their gender-related goals.”
Dame Pauline Tallen, the Honorable Minister of Women Affairs, emphasised the Ministry’s desire to work with NGX to achieve gender equality. “Partnerships are at the heart of our intervention strategy at the Ministry of Women Affairs,” the Honorable Minister remarked in her remarks. We applaud innovative projects that can pave the way for a future in which women are economically empowered as business leaders and entrepreneurs, assuming leading roles in all fields. We welcome collaboration with Nigerian Exchange Limited, development partners on the ground, and other relevant local and international players who can contribute to the creation of this future through innovative solutions, such as gender bonds.”
Ms. Tinuade Awe, Chief Executive Officer, NGX Regulation, lauded the economic and societal benefits of women’s financial inclusion during a fireside chat session on inclusive economic policies to break the gender bias in women’s employment and entrepreneurship, saying, “Women’s financial inclusion can create greater economic stability and prosperity for women, their families, and their communities, by building assets and enabling the ability to respond.” Amb. Mariam Katagum, Minister of State for Industry, Trade, and Investment, emphasised the need of cross-board collaboration.
“Women’s contribution to the Nigerian economy has been established,” she stated. However, we only have eight years to ensure that the Sustainable Development Goals are met, so Nigerians must act quickly.
She emphasised the role of policy in improving women’s livelihoods through gender-friendly trade policies, stating that domesticating the 2017 Buenos Aires Declaration on Women and Trade, which encourages member states to make trade and development policies more gender-friendly, would go a long way toward ensuring that women are more fully integrated into the financial system and the economy as a whole.
Ms. Naomi Nwokolo, Executive Director, United Nations Global Compact Network Nigeria; Lansana Wonneh, Deputy Representative, Nigeria and ECOWAS, UN Women; and Kevin Njiraini, Regional Director, Southern Africa & Nigeria, delivered goodwill messages at the event, with the theme “How Corporate Nigeria is Choosing to Challenge with the Nigera2Equal Programme.”
A panel discussion during the conference focused on the possibilities of using sustainable finance to eliminate gender bias in gender equality. Local and international speakers included Tokunbo Ishmael, MD/CEO, Alitheia Capital; Katherin Mignano, Operations Officer, Inclusive Business, Gender and Economic Inclusion Group IFC; and Robyn Oates, Sustainable Finance Specialist, UN Women. The panel was moderated by Irene Robinson-Ayanwale, Divisional Head, Business Support Services, Nigerian Exchange Limited.
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