PreCEFI assigned terms to oversee economic reforms
Abuja, Nigeria – The Presidential Committee on Economic and Financial Inclusion (PreCEFI) has been assigned the crucial role of providing strategic oversight and guidance in the implementation of the Aso Accord, an initiative aimed at driving economic reforms that promote inclusive growth and financial accessibility across Nigeria.
Vice President Kashim Shettima inaugurated the committee on February 10, 2025, reinforcing the commitment of President Bola Ahmed Tinubu’s administration to achieving its ambitious trillion-dollar economic target.
Structure and Oversight
PreCEFI operates through two key subcommittees: the Governance Committee (GovCo) and the Technical Implementation Committee (TechCo), both supported by an implementation secretariat. The terms of reference for these bodies outline their specific mandates and responsibilities.
The Governance Committee (GovCo), chaired by Vice President Shettima with Minister of Finance and Coordinating Minister of the Economy, Wale Edun, as Deputy Chairman, is responsible for high-level strategic oversight. According to the terms of reference released on Tuesday, GovCo ensures projects align with national development strategies, provides policy frameworks, approves strategic plans, and facilitates resource mobilization.
GovCo’s key responsibilities include:
Strategic guidance for implementing the Aso Accord
Governance and leadership for economic reforms
Performance target-setting and monitoring
Liaising between the National Economic Council and implementation agencies
Committee Members
Prominent figures on the committee include:
Deputy Chief of Staff to the President, Senator Ibrahim Hassan Hadejia
Enugu State Governor, Dr. Peter Mbah
Kaduna State Governor, Senator Uba Sani
Minister of Communications, Innovation, and Digital Economy, Dr. Olatunbosun Tijani
Minister of Humanitarian Affairs and Poverty Alleviation, Prof. Nentawe Goshwe Yilwatda
National Security Adviser, Mallam Nuhu Ribadu
Central Bank Governor, Mr. Olayemi Cardoso
IQS Africa President/CEO, Prof. Emmanuel Itapson (private sector representative)
Technical Advisor to the President on Economic and Financial Inclusion, Dr. Nurudeen Abubakar Zauro (Secretary)
Technical Implementation Committee (TechCo)
The Technical Committee (TechCo) is responsible for operationalizing GovCo’s strategic direction, ensuring that initiatives are technically viable, effective, and scalable. Chaired by Director General of the National Information Technology Development Agency (NITDA), Mr. Kashifu Inuwa Abdullahi, with Central Bank Deputy Governor for Financial System Stability, Mr. Philip Ikeazor, as Deputy Chairman, TechCo focuses on:
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Designing and implementing economic and financial inclusion frameworks
Monitoring budget compliance and project timelines
Driving innovation and technological integration
Providing technical advice to GovCo
TechCo members include heads of major regulatory bodies, industry experts, and private sector representatives, such as:
Director General of the National Identity Management Commission (NIMC), Engr. Abisoye Coker-Odusote
Executive Vice Chairman of the Nigerian Communications Commission (NCC), Dr. Aminu Maida
Director General of the Federal Competition and Consumer Protection Commission (FCCPC), Dr. Tunji Bello
Managing Director of the Bank of Industry, Dr. Olasupo Olusi
Representatives from NIBSS, NCTO, Gates Foundation, and EFInA
Secretariat and Advisory Roles
PreCEFI also has a Secretariat led by the Technical Advisor to the President on Economic and Financial Inclusion, Dr. Nurudeen Abubakar Zauro. The secretariat ensures smooth coordination between GovCo and TechCo while liaising with stakeholders for effective implementation of the Aso Accord.
Additional members of the Secretariat include:
Technical Lead on Economic and Financial Inclusion, Dr. Stephen Ambore (Deputy Head)
Director of Digital Enablement, Kyuka Ibrahim Avong
Director of Strategy & Advocacy, Abdulfarid Yusuf O.
Director of Policy and Programs, Oluseye Olutimahyin
Director of Administration, Finance, and Accounts, Adamu Hassan
Technical and Research Advisors include Lagos Business School Dean/CEO, Prof. Olayinka David-West, and Ahmadu Bello University Professor of Business Management, Prof. Nasir Abdullahi.
Traditional Leaders as Ambassadors
In a unique initiative, PreCEFI has also appointed traditional rulers as Economic and Financial Inclusion Ambassadors to promote financial literacy and community engagement. These include:
HRH Dr. Haliru Yahaya Ndanusa, Emir of Shonga, Kwara State
High Chief Temitope Fawehinmi, Gbajeniyi of Egbaland, Ogun State
With a structured governance model and high-profile members from both the public and private sectors, PreCEFI is poised to ensure the successful implementation of the Aso Accord, driving Nigeria’s economic transformation and financial inclusivity for all citizens.
