Experts set to address impact of bank recapitalisation on Nigeria’s economic growth
By Esther Agbo
In an effort to bolster Nigeria’s financial sector and drive economic growth, the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), the Bank of Industry, the United Bank for Africa, Access Holdings Plc, and key players in the financial industry are gearing up to discuss the impact of the ongoing bank recapitalisation on the real sector at the 2024 at the upcoming Finance Correspondents Association of Nigeria (FICAN) conference.
The forum, scheduled for September 28-29, will explore how the recapitalisation policy, announced by the CBN in March, could serve as a catalyst for achieving Nigeria’s $1 trillion economic target.
Themed “Nigeria’s Journey Towards $1tn Economy: Impact of Banks’ Recapitalisation, Opportunities for Fintechs and Real Sector,” the conference aims to highlight the crucial role of banking reforms in transforming Nigeria’s economy, with a special focus on the real sector and emerging fintech opportunities.
Among the expected participants are top executives from the Bank of Industry, United Bank for Africa (UBA), Access Holdings Plc, and other financial institutions.
The Managing Director of NDIC, Hassan Bello, will deliver the keynote address, providing insights into the importance of bank recapitalization in building a resilient financial system capable of sustaining long-term economic growth.
Other notable speakers include UBA’s CEO, Oliver Alawuba, and BDAN Chairman, Mustafa Chike-Obi, who will also deliver keynote addresses at the event.
Panel discussions will bring together key stakeholders from CBN, the Nigeria Sovereign Investment Authority, Nigeria Inter-Bank Settlement System, and the Development Bank of Nigeria, who will analyse how recapitalisation policies are being implemented and what structural changes might be necessary to support economic expansion.
With banks facing an April 2026 deadline to meet new capital requirements, industry players are already considering mergers, acquisitions, and capital injections.
For FICAN, this year’s conference is an opportunity not only to deepen financial journalists’ understanding of critical economic reforms but also to foster a dialogue that enhances the quality of media coverage. With over 150 financial reporters and editors as members, the association has been at the forefront of improving the reporting skills necessary to cover Nigeria’s evolving financial landscape.
“This conference is an opportunity to deepen our members’ understanding of key economic policies and trends while fostering a dialogue that supports quality reportage and critical analysis in the media.”
In addition to economic insights, the conference is expected to offer a platform for exploring how bank recapitalisation will drive transparency and efficiency within the financial system, an issue that has drawn collaboration from key regulators like the CBN, NDIC, and the Securities and Exchange Commission.
