The Federal Government has inaugurated a technical committee tasked with establishing a National Youth Bank aimed at empowering young Nigerians, nurturing their potential, and supporting their ambitions to foster long-term change.
Comrade Ayodele Olawande, the Minister of Youth Development, announced the committee’s formation during an inauguration ceremony on Tuesday in Abuja.
He emphasized that the committee would oversee all aspects of the Youth Bank’s creation, including its governance structure, the financial services it will provide, and its engagement with young people across the country.
Olawande urged the committee to build a solid foundation for the Youth Bank to ensure it becomes a sustainable and vibrant institution.
He highlighted the committee’s role in designing the bank’s strategy, developing operational and governance frameworks, and ensuring transparency and accountability for long-term success.
The minister further noted that the committee would collaborate with financial institutions and other stakeholders to secure the necessary resources and support to expand the Youth Bank’s impact.
He stressed that the bank would be inclusive, providing equal opportunities to young people from diverse backgrounds, irrespective of their gender, location, or socioeconomic status.
“The Youth Bank is designed to give young people not only financial support but also capacity-building, mentorship, and the resources they need to transform their ideas into action. The goal is to empower young Nigerians to become leaders, innovators, and entrepreneurs in both the present and future.”
The Minister also expressed gratitude to the Development Bank of Nigeria for agreeing to co-chair the event, as well as to the Central Bank of Nigeria, the Bank of Industry, the Ministry of Finance, and the Nigerian Sovereign Investment Authority for their support.
In his remarks, the Permanent Secretary of the Ministry of Youth Development, Mr. Olubunmi Olusanya, acknowledged the potential of Nigerian youths but pointed out that many still lack the financial resources, networks, and support to realize their full potential.
A representative from the Bank of Industry, Mr. Boneventure Okhaimo, reaffirmed the bank’s commitment to working with the ministry and other partners to bring President Bola Ahmed Tinubu’s vision for the Youth Bank to life, underscoring the importance of the committee’s role in ensuring its success.
