The Financial Market Dealers Association recently convened its 9th Annual Financial Market Conference, bringing together key stakeholders to discuss the future of Nigeria’s financial system. The conference, themed “Future-proofing Nigeria’s Financial Market System: Policy, Technology and Market Confidence,” focused on the intersection of regulation, innovation, and trust in strengthening the country’s financial markets.
FMDA President, Mrs Anwuli Femi-Pearse, emphasized the need for a deliberate strategy to build resilience, deepen trust, and position Nigeria’s markets for long-term competitiveness. She noted that sustainable growth will depend on smart policies, strong collaboration, investment in digital infrastructure, and a firm commitment to transparency and accountability.
The conference featured presentations from top regulators, bankers, and fintech leaders, including the Central Bank of Nigeria. Director of Consumer Protection at the CBN, Mrs Aisha Issa Olatinwo, delivered the keynote address, highlighting the importance of financial inclusion in Nigeria’s economic transformation. She noted that financial exclusion has decreased significantly between 2012 and 2023, driven by increased adoption of digital wallets and formal financial channels.
The CBN reaffirmed its commitment to the National Financial Inclusion Strategy, aiming to close access gaps, strengthen digital delivery channels, and expand credit to underserved populations. Technology was identified as a key driver of inclusion, with collaboration among regulators, financial institutions, and innovators essential to sustaining progress.
Other presentations focused on risk management and cybersecurity, with the CBN’s Risk Management Department warning of the growing threat of cybercrime, projected to reach $10.5 trillion annually by 2025. The conference also featured contributions from commercial banks, including FirstBank and Wema Bank, which highlighted the importance of market transparency, policy clarity, and investor confidence.
The conference emphasized the need for a proactive approach to future-proofing Nigeria’s financial system, anchored on intelligent technology, sound policy, and strong public trust. Stakeholders were urged to work together to strengthen professionalism, ethical standards, and global alignment, with clearer policies, stronger partnerships, and greater courage in adopting technology.
The conference concluded with a call to action, emphasizing the shared responsibility of stakeholders to shape the future of Nigeria’s financial system. With the country’s financial markets poised for growth, the need for collaboration, innovation, and trust has never been more pressing. As Nigeria navigates the complexities of a rapidly changing global financial landscape, the outcomes of this conference are likely to have significant implications for the country’s economic development.
