Toba Owojaiye reporting
Abuja, Nigeria
The unveiling of the Women’s Cooperative Credit Initiative (WCCI) Credit Cooperative Union (WCCI-CCU) marked a defining moment in the fight for women’s financial inclusion in Nigeria. The landmark event, held in Abuja, brought together key stakeholders, policymakers, and financial experts committed to breaking barriers and empowering women through strategic investment and cooperative models.
Truth Live News gathered that the event commenced with the arrival of esteemed guests, followed by the National and Women’s Anthems. Ambassador Zainab Mohammed, CEO of WCCI, delivered a compelling welcome address, emphasizing that WCCI-CCU is more than a financial institution—it is a revolution.
“Today is more than an unveiling. It is a declaration of hope, a step toward a future where no woman is left behind simply because she lacks access to finance,” she said. “Women are not just participants in the economy—we are builders of industries, creators of wealth, and architects of lasting change.”
She opined that despite women owning 40% of Micro, Small, and Medium Enterprises (MSMEs) in Nigeria, access to finance remains a significant challenge. Ambassador Mohammed highlighted that 70% of women-owned businesses globally are either unbanked or underbanked, representing a $300 billion market gap. WCCI-CCU aims to change this by providing interest-free loans and financial support tailored to women entrepreneurs, ensuring they receive the capital they need to thrive.
Keynote speakers stressed the critical role of financial inclusion in national development. Dr. Nurudeen Abubakar Zauro, Technical Adviser to the President on Financial Inclusion, and a representative of the Central Bank of Nigeria’s Financial Inclusion Delivery Unit reiterated the government’s commitment to policies that empower women economically.
The event saw the presence of distinguished personalities, including Mr. Emmanuel Atama, Executive Secretary/CEO of the National Cooperative Financing Agency of Nigeria (CFAN); representatives from Jaiz Bank; and Hon. Gloria Umukotete, High Commissioner of Gambia, and the representative of the National President of the National Council for Women Societies (NCWS).
Also in attendance was Her Royal Highness Hajiya Hauwa Yunusa, wife of the Ona of Abaji and Chairperson of the Traditional Rulers’ Wives Association in the FCT.
Goodwill messages were delivered by Princess Edna DD Azura, President of NCWS; Arc. Mrs. Comfort Adesoye, President of Women of Worth Global; and Mrs. Ruth Gyar, Chairman of the Governing Council of MSMEs. These leaders commended the initiative and pledged continued support in advancing women’s economic empowerment.
In his goodwill message, the Gambian Ambassador emphasized the critical role of women in economic transformation and praised the WCCI-CCU initiative for providing a lifeline to aspiring female entrepreneurs. “Women play a crucial role in the economic transformation of any nation, yet they often face challenges in accessing capital, training, and opportunities,” he said. “The success of any economy lies in inclusive growth, and empowering women in business is a proven strategy for national prosperity, especially in developing countries.”
In a paper presentation on gender financial inclusion, Mr. Emmanuel Atama of CFAN stressed the need for innovative cooperative models to support women’s businesses. Similarly, Mrs. Rose D. S. Gyar, Chairman of the Governing Council Forum of MSMEs, highlighted investment opportunities available to women through cooperative societies.
Speakers emphasized that women-led businesses have a loan repayment rate of just 1% to 1.5%, significantly lower than the 4% to 6% default rates seen elsewhere. Yet, women consistently receive smaller loan amounts compared to men. “This is not just an economic oversight—it is an injustice,” Ambassador Mohammed declared. “WCCI-CCU is here to break that cycle, to put power in the hands of women who have long been denied their fair share.”
The event concluded with a collective pledge to ensure that no woman is left behind in Nigeria’s economic transformation. WCCI-CCU’s launch represents a strategic step towards economic inclusivity, emphasizing that when women are financially empowered, they uplift their families, communities, and the nation at large.
As stakeholders reaffirmed their commitment to sustaining the momentum, Ambassador Mohammed closed with a powerful statement: “We are not just dreamers; we are doers. We are not just survivors; we are leaders. And today, we rise.”
With WCCI-CCU now in motion, the future of women-led enterprises in Nigeria and Africa looks brighter than ever.