FG Inaugurates Technical Committee for Establishment of National Youth Bank

Maryam Aminu

In a landmark move to empower Nigerian youth and foster sustainable development, the Federal Government has inaugurated a technical committee to spearhead the establishment of the National Youth Bank.

Speaking at the inauguration ceremony held at his office, the Honourable Minister of Youth Development, Comrade Ayodele Olawande, emphasized the transformative vision behind the initiative.

He stated that the Youth Bank aims to provide young Nigerians with financial resources, mentorship, and capacity-building opportunities to translate their ideas into impactful ventures.

“The Youth Bank is not just about financial support; it’s a dynamic platform to nurture the leaders, innovators, and entrepreneurs of today and tomorrow. It’s designed to create an inclusive environment where every youth, regardless of socioeconomic status, gender, or location, can access opportunities,” Olawande remarked.

The Minister charged the committee with laying a robust foundation for the bank, focusing on governance structures, operational models, and transparent frameworks to ensure sustainability.

He also highlighted the importance of partnerships with financial institutions and other stakeholders, commending organizations like the Development Bank of Nigeria, the Central Bank of Nigeria, the Bank of Industry, the Ministry of Finance, and the Nigerian Sovereign Investment Authority for their support.

In his address, Permanent Secretary of the Ministry, Mr. Olubunmi Olusanya, underlined the urgent need for the Youth Bank, noting that many young Nigerians lack the financial resources and networks necessary to reach their full potential.

Stakeholders echoed their commitment to the initiative. Mr. Boneventure Okhaimo from the Bank of Industry pledged support to actualize President Bola Ahmed Tinubu’s vision, while Mr. John S. Onoja from the Central Bank of Nigeria assured the committee of swift registration and licensing processes once criteria are met.

The National Youth Bank, once operational, will be a beacon of hope for millions of Nigerian youth, providing access to financial capital, mentorship, and opportunities that pave the way for a brighter, more inclusive future.