NBA President Urges Banks to Provide Credit Access for Female Lawyers
Nigerian Bar Association (NBA) President Oyinkansola Badejo-Okusanya called on financial institutions to create platforms that give female lawyers access to credit so they can own their own firms.
She made this appeal at the 19th Chartered Institute of Bankers of Nigeria (CIBN) Annual Banking and Finance Conference in Abuja.
Many female lawyers want to start their own practices but lack the necessary resources, she noted, even if they are creditworthy and do not identify as entrepreneurs.
Banks, she said, often deny credit to qualified female lawyers seeking to establish their own firms.
Addressing the broader role of women in building resilient systems, Badejo-Okusanya described inclusion as essential to resilience. She urged stakeholders to design systems that intentionally support women throughout their careers.
Talent and competence are not defined by gender, she emphasized, calling for women to participate fully, not just be accommodated. Women should pursue their ambitions, she added, without limiting themselves to meet others’ expectations.
Former CIBN President Otunba Debola Osibogun encouraged women to develop the skills and qualifications necessary for advancement and promotion.
Organizations with women on their boards often perform better and carry fewer non-performing loans, he noted, attributing this to women’s greater risk aversion.
He framed women’s presence in governance as a performance matter, not just inclusion, and urged a shift in focus from participation to measurable impact.
Prof. Henrietta Onwuegbuzie of Lagos Business School emphasized the importance of women continually building competence and preparing for opportunities.
Training should take priority over funding when necessary, she advised, calling training the first step toward success and pushing for increased investment in preparing women for board positions.
Victoria Ajayi, Group Managing Director of TVC, urged banks to assess women-owned businesses based on cash flow instead of requiring substantial collateral for credit. She also encouraged women to expand their general knowledge beyond their specific fields.
Bukola Smith, CEO of FSDH Merchant Bank, noted that most banks now have staff dedicated to gender issues.
The Central Bank of Nigeria, she said, should help banks access guarantees that can replace collateral, adding that banks could better use existing data to understand female entrepreneurs’ needs.
Continued support for competent women remains essential, she said, noting that including women in decision-making improves risk management.
