Ageist recruitment policies further compound the challenges women face. Many banks impose entry-level age limits as low as 24, effectively excluding women who start families early—a significant issue in a country where the average age at first pregnancy is 22. These restrictive policies penalize women for following established societal norms while simultaneously reducing the sector’s talent pool and reinforcing existing gender inequalities. Sterling Bank provides a telling example of this contradiction. Despite being recognized as a leader in gender diversity within the sector, as of 2022, the bank’s workforce was 45 per cent female. Sterling Bank is known for its inclusive initiatives, including flexible working hours for mothers that allow them to set convenient start and end times. The bank also offers a women-only development programme that features an online maternity hub to support pregnant employees, and a women-in-banking internship programme that aims to recruit young women exclusively. However, there is a notable caveat: like most banks in the sector, Sterling Bank has an age limit in its recruitment criteria—‘To be eligible for this opportunity, you must…not be older than 25 years at the time of application…’ This age restriction immediately undermines the inclusivity goals of such initiatives by limiting opportunities for women who may have delayed their careers due to family commitments.  

Beyond this structural barrier, cultural biases and micro-aggressions further impact women’s professional integrity. Female leaders face derogatory labels, cyberbullying and public scrutiny based on their appearance or marital status. We see, for instance, the accusations against a CBN director, Aisha Ahmad, for not covering her hair, and Zenith Bank CEO, Adaora Umeoji Nwokoye, who was dismissed as a ‘hook-up girl’ for her beauty. Such incidents highlight deep-rooted stereotypes that damage both individual reputations and the sector’s credibility.  

Ageism in the finance sector functions as a mirror reflecting societal expectations that define a woman’s value according to her stage in life. Younger women face assumptions that they lack the necessary skills for leadership positions, while older women confront pressure to prioritize family obligations or risk being dismissed as irrelevant in a rapidly evolving industry. On the one hand, marital status shapes women’s professional experiences through societal expectations about primary roles as caregivers and homemakers. Married women often struggle under the weight of the ‘double shift’ required to excel both at work and in their domestic responsibilities, which creates an uneven playing field in competition with male colleagues. Single women, on the other hand, often face suspicion or ostracization for defying traditional norms, further marginalizing them in professional spaces. These patterns reflect a broader societal pattern across Africa, where a woman’s identity and worth are tied to her domestic roles, limiting her ability to be seen as an independent professional. Outside the banking sector, cultural norms manifest through the preference for male candidates in leadership roles based on perceptions that men are more authoritative and decisive. These norms also manifest through the tolerance of discriminatory practices like sexual harassment or unequal pay. The banking sector thus serves as a microcosm of broader African societal dynamics that reinforce cultural norms prioritizing men as breadwinners and relegating women to supportive roles. Even when women break into the industry, these persistent cultural expectations can become an invisible ceiling that prevents them from fully asserting themselves or advancing their careers.