Alebiosu Reiterates Positive Role Of Financial Inclusion In Poverty Eradication At UNGA ‘79

In an exclusive interview with Arise TV on the sidelines of the 79th United Nations General As­sembly in New York, the CEO of FirstBank, the premier West African financial institution and financial inclusion service provid­er, Olusegun Alebiosu highlighted poverty eradication as a pressing concern that should keep interna­tional leaders up at night. Alongside poverty, climate change and gender inequality are equally pressing issues that de­mand attention and action. Alebiosu stressed that poverty, in all its forms, stems from lack of access and resources.

He highlighted that finance is the most critical factor in combat­ing poverty in the 21st century. “The easiest way to get out of poverty is access to finance,” he noted. Some of the important discus­sion topics during the UN Global Compact Leaders’ Summit accord­ing to Alebiosu included innova­tive financing, sustainable financ­ing, and the impact of artificial intelligence on humanity.



He stressed the critical need to develop human resources to tack­le the widening economic gap be­tween developed and developing nations. This emphasis on human re­source development echoes the United Nations’ focus on sustain­able development and equality, par­ticularly in areas such as gender equality, climate action, and living wages. As a financial expert in Nigeria and Africa, Alebiosu has identified financial inclusion as a key area for FirstBank to address in supporting poverty alleviation under the sus­tainable development goals.

FirstBank considers finan­cial inclusion a central part of its business strategy, resulting in the extension of over N36 billion in loans to women in 2023 and the development of a gender market strategy to strengthen the Bank’s women portfolio. Alebiosu highlighted First­Bank’s extensive Firstmonie agents’ network in Nigeria, which surpassed 232,000 in 2023, with over 55,000 of the agents be­ing women who continue to offer financial services in their com­munities as a testament to the power of financing in advancing economic interests and promoting economic development. Alebiosu expressed his vision for the future and said: “FirstBank will further be entrenched into the fabric of the society, earning a place in the hearts and minds of Nigerians as a Giant advocate for economic development in Nigeria and Africa as a whole.

” The UN Global Compact Lead­ers’ Summit is an annual day-long conference that empowers private sector leaders to drive sustainable development and advance the 2030 Agenda. The event provides a unique platform for business leaders, UN officials, government leaders, SDG stakeholders, and civil society pro­fessionals to converge and explore innovative solutions with action­able insights. This year’s edition held in New York, on Tuesday Sep­tember 24, 2024.