UBA’s MD Oliver Alawuba Chart Path To $1 trillion Economy At FICAN Conference 

Nigeria’s finance sector leaders gathered at the 2024 Annual Conference of the Finance Correspondents Association of Nigeria (FICAN) to outline the nation’s strategic plan for achieving a $1 trillion economy.

Keynote Address by Ugo Nwaghodoh

Ugo Nwaghodoh, Executive Director of Finance and Risk Management at the United Bank for Africa Plc, delivered the keynote address on behalf of Oliver Alawuba, Chairman of the Body of Banks’ CEOs.

Bank Recapitalization: A Catalyst for Growth

Nwaghodoh emphasized the importance of bank recapitalization in fortifying the banking sector and driving economic growth. This initiative aims to equip banks with the financial strength to withstand external and internal shocks.

Fintech Innovation: Revolutionizing Financial Services

Nigeria’s fintech market is poised to expand financial access, drive innovation, and stimulate competition. Fintech companies must focus on rural populations, data-driven innovation, and strategic collaboration with banks.

Real Sector Growth: Engine for Diversified Economy

Advertisement

The real sector, comprising agriculture, manufacturing, and services, must become the engine of growth. Nwaghodoh highlighted the need to boost agricultural productivity, revive the manufacturing sector, and strengthen SMEs.

Policy Recommendations

The Central Bank of Nigeria (CBN) and Nigeria Deposit Insurance Corporation (NDIC) must ensure monetary stability, encourage impactful lending, and protect the financial ecosystem.

Call to Action

Nigeria’s finance leaders urge collective effort and innovation to drive economic transformation. The nation’s journey to a $1 trillion economy requires strategic alignment of policy, investment, technology, and collective will.

Details soon:

Check Also

Student Of Government Technical College, Ikorodu, Brutally Injures Classmate With T-Square

A student of Government Technical College, Ikorodu is laying critically ill from injuries sustained from an attack by a classmate identified as Master Khalid Sanusi on Tuesday, 11th February, 2025.