About
Enhancing Financial Inclusion & Advancement (EFInA) is a Financial Sector Deepening (FSD) organisation
Who we are?
Enhancing Financial Innovation & Access (EFInA) is a Financial Sector Deepening (FSD) organisation that promotes inclusive finance in Nigeria. The FSD Network is a family of nine Financial Sector Deepening, or FSD, programmes operating across Africa.
EFInA is renowned, within Nigeria’s financial sector, for providing thought leadership toward achieving financial inclusion and championing the unbanked. By funding and catalysing innovation, providing cutting-edge research, advocating for inclusive policies, and building capacity, EFInA has gained a reputation as an “honest broker” among the private and public sectors in Nigeria.
EFInA was established with support from the UK’s Foreign Commonwealth & Development Office (FCDO) in 2007 and began receiving funding support from the Bill & Melinda Gates Foundation in 2009.
What is Financial Inclusion?
Financial inclusion is the provision of a broad range of high quality financial products, such as savings, credit, insurance, payments and pensions, which are relevant, appropriate and affordable for the entire adult population, especially the low income segment.
An inclusive financial sector is characterised by the diversity of financial services providers, the level of competition between them, and the legal and regulatory environments that ensure the integrity of the financial sector and access to financial services for all.
Established in
late 2007
Our Vision
We want to see a world where
All Nigerians are financially included and economically empowered
Our Mission
To Facilitate a market where diverse, affordable and secure digital financial services drive economic growth and make a difference in the lives of EVERY Nigerian
OUR VALUES
We are deeply committed to equity between men and women and supporting the vulnerable and marginalised.
Our Leadership
HRH Sanusi Lamido
Sanusi CON
Member
HRH Sanusi Lamido Sanusi, Emir of Kano, is a renowned economist, banker, and thought leader in financial inclusion and economic development. As a former Governor of the Central Bank of Nigeria, he spearheaded critical banking reforms that strengthened Nigeria’s financial system. He is a strong advocate for inclusive finance, economic policy reforms, and social equity. HRH Sanusi’s extensive experience in governance, risk management, and regulatory affairs continues to shape financial sector transformation across Africa.
Mr. M.K. Ahmad
OON
Member
Mr. M.K. Ahmad is a seasoned financial services expert with over three decades of experience in banking, regulation, and public sector governance. He served as the pioneer Director General of the National Pension Commission (PenCom), leading landmark pension reforms in Nigeria. Mr. Ahmad has held leadership roles across financial institutions and regulatory bodies, contributing to economic policy, financial inclusion, and corporate governance. His expertise in institutional development and financial sector strategy is instrumental in shaping Nigeria’s financial inclusion landscape.
Ms. Arunma Oteh
OON
Member
Ms. Arunma Oteh is a distinguished finance and capital markets expert with a track record of driving economic development and financial market reforms. As the former Director-General of the Securities and Exchange Commission (SEC) Nigeria, she led transformational reforms to enhance investor confidence and market transparency. She also served as Treasurer and Vice President at the World Bank, where she championed sustainable finance and economic inclusion. Ms. Oteh remains a global advocate for financial sector resilience, governance, and innovation.
Mrs. Nimi Akinkugbe
Member
Mrs. Opunimi Akinkugbe is a financial literacy advocate, banker, and entrepreneur committed to empowering individuals and businesses through financial education. With over two decades of experience in banking and wealth management, she has held leadership roles in leading financial institutions, including Ecobank and Barclays Bank. The one time ambassador of Nigeria to Greece is the founder of Bestman Games, where she pioneers financial literacy initiatives across Africa. Mrs. Akinkugbe’s expertise in personal finance, entrepreneurship, and economic empowerment drives her passion for inclusive financial systems.
Dr. Agnes T. Martins
Board Chair
Dr. Agnes Tokunbo Martins is a seasoned banking and financial sector expert with extensive experience in regulatory oversight, risk management, and financial inclusion. As a former Director of Banking Supervision at the Central Bank of Nigeria, she played a pivotal role in strengthening financial stability and reforming the banking sector. She is also the author of Banking Reforms in Africa: Implications for Economic Welfare and Poverty Reduction, which explores the impact of banking policies on economic development. Dr. Martins is passionate about fostering inclusive financial systems that drive sustainable economic growth and poverty alleviation.
Mr. Olu Akanmu
Board Director
Olu Akanmu was, until recently, President and Co-CEO of OPay-Nigeria, one of Nigeria’s largest fintech platforms with Unicorn valuation. He has an unusual, diverse C-level strategic leadership experience across several industries, including healthcare, FMCG, telecommunications, banking, fintech, and non -profit industries, with a track record of growing and scaling businesses successfully across these industries. He currently also serves as the Academic Director of the Tech-Leap Initiative of the Lagos Business School.
Professor Janice Olawoye
Board Director
Prof Olawoye is a Professor of Rural Sociology, with extensive experience in research in rural development particularly in gender issues. She has over 70 publications in journals, chapters of books, and other professional outlets, and she has carried out well over 60 research assignments for several national and international development organizations, including the World Bank, FAO, and IFAD. She has supervised many undergraduate and postgraduate students, including 30 Ph.D. students. Janice Olawoye has also served on the boards of several NGOs, including charitable organizations.
Mrs. Saude Atoyebi
Board Director
Saude Amina Atoyebi is a public sector consultant focused on public policy, social protection, and financial inclusion, currently supporting the Gates Foundation’s Inclusive Financial Systems team to expand and consolidate their work in Nigeria. She previously held different positions in the Kaduna State Government and concluded her tenure with two capstone roles: Deputy Chief of Staff and pioneer Head of the Kaduna State Social Investment Office, where she led the transformation of the Social Protection sector.
Mr. Kola Aina
Board Director
Kola is an established investor, insightful non-Executive director, and company chair passionate about seeing start-ups grow and improving the lives of ordinary Africans by democratising prosperity. He brings demonstrable success from leading investment in over 70 companies in Africa, India, and the US, including payments companies such as Paystack. He has established networks across the private sector, development partners, financiers, governments, and regulators.
Foyinsolami Akinjayeju
FCIB, FCCA, FCA, FCS, FRM, CISA, CISM, AFHEA
Chief Executive Officer
Foyin Akinjayeju serves as the CEO at EFInA. She is an accomplished business leader with over two decades of experience in strategy, financial management, and operational transformation across corporate and non-profit sectors. She has a proven track record of driving growth, fostering innovation, and delivering impactful results in financial inclusion. Prior to joining EFInA as CEO, she led a network of 45 schools in low-income communities, achieving significant enrolment and revenue growth. A chartered accountant with an MBA from the Lagos Business School, she previously held senior leadership roles at PricewaterhouseCoopers (PwC) and Phillips Consulting, where she led high-impact projects, including the establishment of a Development Finance Institution in Nigeria. While at PwC, she managed the Africa Desk in Japan, promoting “Into-Africa” investments.
Meet the people who drive
our initiatives forward
- Chinasa Collins-Ogbuo
- Team Lead, Communications & Advocacy
- Emezino Afiegbe
- Team Lead, GCE
- Oluwatomi Eromosele
- Team Lead, Research
- Uchenna Enyioha
- Network & Stakeholder Manager
- Chioma Nwaiwu
- Research Officer
- Norah Igwe
- Programme Manager
- Immanuel Umukoro
- Policy & DFS Advocacy Manager
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- Uche Enyioha
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Our donors
Meet the donors backing EFInA’s mission
As EFInA’s founding donor and key partner in financial inclusion, FCDO provided critical funding and strategic support from EFInA’s inception in 2007. This funding was instrumental in shaping EFInA’s early efforts to expand financial inclusion across Nigeria, enabling the organization to conduct groundbreaking research, foster innovation, and influence policy reforms. While FCDO’s direct funding to EFInA has concluded, the two organizations continue to foster a strong relationship focused on shared socio-developmental goals
Gates Foundation is guided by the belief that every life has equal value. The Foundation focuses on improving people’s health and giving them the chance to lift themselves out of hunger and extreme poverty. The goal of the Global Development Program, Financial Services for the Poor is to provide millions of poor people in the developing world with reliable access to affordable financial services that can help them build better, healthier lives. The Gates Foundation continues to support EFInA’s efforts towards driving last-mile financial inclusion and achieving socio-economic impact for the excluded and vulnerable in Nigeria.
