The Consumer Advocacy & Empowerment Foundation (CADEF) hosted a pivotal workshop in Lagos to address the pressing issue of financial exclusion faced by people with disabilities (PWDs). The event brought together government officials, financial institutions, disability organizations, and experts to discuss innovative strategies for enhancing financial accessibility for this marginalized group.
Safiu Babatunde, Head of Legal Services at the Lagos State Office for Disability Affairs, underscored the critical importance of financial inclusion for PWDs. He highlighted the numerous challenges faced by individuals with disabilities in accessing traditional and digital financial services, emphasizing the need for tailored solutions to overcome these barriers.
“Disability-related obstacles hinder the participation of individuals at every stage of developmental interventions aimed at boosting livelihoods. Financial resources are essential for undertaking economic activities, and unfortunately, traditional banks have often fallen short in serving people with disabilities,” Babatunde stated.
He called for stronger public-private partnerships to drive financial inclusion for PWDs. “By collaborating, government agencies, financial institutions, and disability organizations can develop and implement initiatives that promote financial inclusion for this underserved population,” he said.
Professor Chiso Ndukwe-Okafor, Executive Director of CADEF, reiterated the organization’s commitment to advocating for the rights of marginalized groups. She emphasized the need for inclusive financial products and services that cater to the specific needs of people with disabilities.
“CADEF has been empowering individuals with financial literacy, including those with disabilities. Our goal is to create inclusive financial systems that meet the needs of all Nigerians,” she said.
The Lagos State Office for Disability Affairs (LASODA) also advocated for increased public-private collaboration to address the financial barriers faced by PWDs. Adenike Oyetunde-Lawal, General Manager of LASODA, emphasized the need for tailored financial products and accessible services.
Participants discussed the challenges faced by people with disabilities in accessing financial services, such as limited awareness of available products, inaccessible ATMs and branches, and discriminatory practices. They explored potential solutions, including the development of accessible mobile banking applications, financial education programs in sign language and Braille, and partnerships with disability organizations.
At the conclusion of the workshop, participants agreed on the urgent need for concerted efforts to improve financial inclusion for people with disabilities. They pledged to work together to develop and implement practical solutions that will empower individuals with disabilities to participate fully in the financial sector.