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‘Banking Sector Recapitalisation Will Strengthen Nigeria’s Financial Ecosystem’
['Ojogun Victor']
THISDAYLIVE
Managing Director, FairMoney Microfinance Bank, Henry Obiekea, has stressed the need for the implementation of the ongoing recapitalisation programme of the Central Bank of Nigeria (CBN), describing it as a strategic investment that will strengthen Nigeria’s financial ecosystem.
According to him, if implemented successfully, it has the potential to strengthen financial stability, deepen credit access, improve investor confidence, and support a more inclusive and resilient economy.
Speaking from a Fintech perspective, Obiekea said: “For Nigeria’s rapidly growing Fintech ecosystem, although they are subject to different licensing frameworks depending on their operations, the broader regulatory direction is equally clear.
Institutions that facilitate payments, tech-enabled banking, lending and savings are expected to maintain governance, capital and consumer protection standards appropriate to their respective licensing frameworks.
Collectively, the reforms present a unique opportunity to reshape Nigeria’s financial ecosystem.”