Director-General of the Securities and Exchange Commission (SEC), Ms Arunma Oteh, has charged that the commission would all within its powers to ensure that Nigerian women achieve economic empowerment.
She stated this in her address at the commemoration of this year’s International Women’s day at the weekend in Abuja which has the theme “Inspiring Change.”
This, she said “gives us a reason to be really proud of the Great Nigerian Women who have inspired change in our nation and have led various efforts for our country’s development. They are the women of great repute we celebrate today like Queen Amina of Zaria, Margaret Ekpo, Mrs. Funmilayo Ransome Kuti and many more.
“At the SEC we are determined to see women achieve economic empowerment but more importantly we want to celebrate the critical role of the woman in nurturing our children and giving them the best of love and attention who will never be led astray to take the life of another human being,” she said.
The SEC boss pointed out that women all over the world are faced with societal realities that threaten to limit their achievements and prevent them from attaining their economic potentials.
She added that of the many realities that women face, there is perhaps none as dis-enfranchising as poor access to finance.
“A recent study by the IFC showed that women-owned SMEs are particularly a financially underserved segment. They are not only less likely to obtain formal financing, they also often get charged higher interest rates.
“According to a World Bank report on “Investment Climate in Nigeria”, about 76% of women rely on informal sources of funds and savings in sharp contrast to only about 1% that obtained capital from the formal sector. Many other surveys have reported women being denied bank loans in high numbers.”
