eNaira Critical to Strengthening Nigeria’s Banking Sector – Expert

eNaira Critical to Strengthening Nigeria's Banking Sector - Expert eNaira Critical to Strengthening Nigeria's Banking Sector - Expert

Given the significant contribution of the financial sector to the growth and recovery of Nigeria’s economy post-covid-19, industry players in the financial space have called for more adoption of technological innovation in the banking sector in order to sustain the current growth trajectory.

Speaking at the 40th Anniversary summit of the Financial Institutions Training Centre (FITC) in Lagos, the Deputy Governor, Financial System Stability, Central Bank of Nigeria, Mrs. Aishah Ahmad explains that digital transformation and technological innovation being witnessed in the economy and financial ecosystem will foster more prosperity and reduce income inequality.

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She adds that intensified growth in the size and significance of banks and other financial institutions created new opportunities for new entrants and increased integration with global finance and capital markets.

Other stakeholders at the event who applauded FITC for always being a pivotal part of the Nigerian financial industry, stressed that the new digital currency app launched by the Central Bank will deepen financial inclusion in the country and integrate millions of unbanked Nigerians into the banking system.

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