The 2024 Finance Correspondents Association of Nigeria conference will feature discussions on the impact of current recapitalization efforts on the real sector, with key contributions from the Nigeria Deposit Insurance Corporation, the Central Bank of Nigeria, the Bank of Industry, the United Bank for Africa, Access Holdings Plc, and other financial institutions.
This was disclosed in a statement on Monday, according to The Punch.
The conference scheduled for September 28-29,
is themed “Nigeria’s Journey Towards a $1tn Economy: Impact of Banks’ Recapitalisation, Opportunities for Fintechs, and Real Sector.”
The event aims to explore Nigeria’s ambitious goal of reaching a $1 trillion economy.
The Managing Director/CEO of NDIC, Hassan Bello
will deliver the keynote address.
Additionally, UBA’s CEO, Oliver Alawuba, and BDAN Chairman, Mustafa Chike-Obi, will provide insights on the subject.
According to FICAN, panel discussions will feature key stakeholders from CBN, the Nigeria Sovereign Investment Authority, the Nigeria Inter-Bank Settlement System, and the Development Bank of Nigeria.
The CBN’s recapitalization policy, announced in March, requires banks to meet new capital requirements by April 2026.
To meet the new recapitalization standards, banks are exploring mergers, acquisitions, and fresh capital injections.
Bello, highlighted the importance of recapitalization in creating a robust financial system that supports sustained economic growth.
FICAN, which represents over 150 financial journalists, will host the annual conference to enhance its members’ knowledge and reporting skills on key economic policies impacting Nigeria’s financial sector.
FICAN, the umbrella body for journalists and business editors focused on the financial sector, aims to keep its members well-informed about critical developments shaping the economy.
It has been reported that the CBN, the NDIC, and the Securities and Exchange Commission have teamed up to streamline the bank recapitalization process.
This collaboration is focused on improving efficiency and transparency within the financial sector.
