The Central Bank of Nigeria (CBN) and the Nigeria Deposit Insurance Corporation (NDIC) will lead a discussion on the impact of bank recapitalization on the real sector at the 2024 Finance Correspondents Association of Nigeria (FICAN) conference. The event, themed “Nigeria’s Journey Towards $1tn Economy: Impact of Banks’ Recapitalisation, Opportunities for Fintechs and Real Sector”, will take place on September 28-29.
The conference will feature keynote addresses from NDIC’s Managing Director/CEO, Hassan Bello, and UBA’s CEO, Oliver Alawuba, as well as panel discussions with stakeholders from CBN, the Nigeria Sovereign Investment Authority, and the Development Bank of Nigeria.
The CBN’s recapitalization policy, announced in March, requires banks to meet new capital requirements by April 2026, prompting considerations of mergers, acquisitions, and fresh capital injections. Bello emphasized the importance of recapitalization in building a resilient financial system capable of sustaining economic growth.
FICAN, representing over 150 financial journalists, aims to improve knowledge and reporting skills through this annual event, ensuring members stay informed about critical economic policies shaping Nigeria’s financial landscape.
