{"id":117257,"date":"2025-04-11T16:03:41","date_gmt":"2025-04-11T15:03:41","guid":{"rendered":"https:\/\/pointblanknews.com\/pbn\/?p=117257"},"modified":"2025-04-11T16:03:41","modified_gmt":"2025-04-11T15:03:41","slug":"how-nigerian-banks-prevent-youths-from-accessing-facilities-afdb-president","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/news\/how-nigerian-banks-prevent-youths-from-accessing-facilities-afdb-president\/","title":{"rendered":"How Nigerian Banks Prevent Youths from Accessing Facilities \u2013 AfDB President"},"content":{"rendered":"<div>By Daniel Adaji<\/div>\n<div><\/div>\n<div>The President of the African Development Bank (AfDB), Akinwumi Adesina, has accused Nigerian banks of erecting systemic barriers that shut young people out of financial access, thereby stifling innovation and entrepreneurship across the country.<\/div>\n<div><\/div>\n<div>Adesina made the remarks on Channels TV on Thursday, where he said the current banking structure in Nigeria and Africa at large is fundamentally flawed and not tailored to support young people with creative business ideas.<\/div>\n<div><\/div>\n<div>\u201cThe commercial banking system, the financial system, has failed young people in Africa,\u201d he said.<\/div>\n<div><\/div>\n<div>Drawing from his own experience in the financial sector, Adesina described how commercial banks focus solely on risk when assessing young applicants. He criticized banks for demanding requirements that many young Nigerians simply cannot meet.<\/div>\n<div><\/div>\n<div>\u201cYou walk into the bank, and you see young people, 21 years old, coming in. In your risk assessment, the only thing you see is risk, risk, risk,\u201d he said.<\/div>\n<div><\/div>\n<div>\u201cAnd so you go ask them for securities that they need to bring to you. \u2018(Do) you have a house, (do) you have a land, (do) you have this, (do) you have tax for the last 40 years?\u2019 \u2018I\u2019m only 21 years old.\u2019 And so the whole of the system is not designed for young people,\u201d he said.<\/div>\n<div><\/div>\n<div>According to Adesina, the result is a financial environment that discourages and disqualifies the very demographic that could drive the continent\u2019s economic growth.<\/div>\n<div><\/div>\n<div>He linked the failure of the financial system to broader socio-economic issues, including the rising wave of youth migration in Nigeria\u2014popularly known as the \u201cJapa\u201d phenomenon.<\/div>\n<div><\/div>\n<div>\u201cThe \u2018japa syndrome\u2019 you mentioned\u2014it\u2019s a big loss for us out of Nigeria and many other countries,\u201d Adesina warned.<\/div>\n<div><\/div>\n<div>With over 465 million youths aged 15 to 35 in Africa, the AfDB president lamented that most financial institutions remain outdated and unresponsive to the demographic realities of the continent.<\/div>\n<div><\/div>\n<div>Adesina also pushed back against the notion that young people need handouts or superficial empowerment schemes. What they require, he said, is real financial backing.<\/div>\n<div><\/div>\n<div>\u201cFirst and foremost, is to recognize that young people don\u2019t need freebies. We don\u2019t need people just saying, \u2018Oh well, I just want to give you a youth empowerment program.\u2019 What does that mean? They need capital. They need you to put your money at risk on their behalf,\u201d he added.<\/div>\n<div class=\"yj6qo\"><\/div>\n<div class=\"adL\"><\/div>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>By Daniel Adaji The President of the African Development Bank (AfDB), Akinwumi Adesina, has accused Nigerian banks of erecting systemic barriers that shut young people out of financial access, thereby&hellip;<!-- AddThis Advanced Settings generic via filter on wp_trim_excerpt --><!-- AddThis Share Buttons generic via filter on wp_trim_excerpt --><!-- AddThis Related Posts generic via filter on wp_trim_excerpt --><\/p>\n","protected":false},"author":1,"featured_media":38978,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-117257","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - 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