September 11, (THEWILL) – The Managing Director/CEO of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Hassan Bello, will deliver the keynote address at the annual conference of the Finance Correspondents Association (FICAN) billed to hold on September 28 and 29, 2024, at Orchid Hotel, Lekki, Lagos.
Also to feature at the event are Prof. Mustapha Chike-Obi, Chairman, Bank Directors Association of Nigeria (BDAN, and Dr. Oliver Alawuba, Group Managing Director/CEO, United Bank for Africa (UBA), as guest speakers.
The theme of the conference is: Nigeria’s Journey Towards $1 Trillion Economy: Impact of Banks’ Re-capitalisation, Opportunities for Fintechs and Real Sector.
According to a statement made available to journalists by the executive of FICAN, there will be a panel discussion in which representatives of the following organisations will participate: the Central Bank of Nigeria (CBN), Nigeria Sovereign Investment Authority (NSIA), Nigeria Inter-Bank Settlement System (NIBSS), Bank of Industry (BOI), Parthian Partners and Development Bank of Nigeria (DBN).
The NDIC has been a supporter of the CBN over its move to recapitalise banks, saying the apex bank’s decision will achieve economic resilience in the country.
THEWILL recalls that the CBN, on March 28, 2024, issued a circular announcing a new recapitalisation policy for commercial, merchant, and non-interest banks in Nigeria, effective from April 1, 2026.
To meet the latest minimum capital requirements, banks have been considering the following options: Inject fresh equity capital through private placements, rights issues, and/or offer for subscription; mergers and acquisitions (M&As) and upgrade or downgrade of licence authorisation in the event lenders cannot meet up with the new rules of engagement.
Realising the importance of boosting the banks’ capital base, the Bank of Industry (BoI) has been committed to backing steadfast local businesses, emphasising the bank’s dedication to supporting critical sectors that are contributing to Gross Domestic Product (GDP) growth.
FICAN is the umbrella body of journalists and business editors reporting on the financial sector of the Nigerian economy. The Association has a membership of over 150 journalists working in print, broadcast and online media platforms.
The annual conference is a capacity-building and agenda-setting forum, designed to deepen financial journalists’ understanding of developments in the economy and enhance quality of reportage.
The conference is a critical capacity-building project of the association, aimed at elevating the practice of financial journalism in the country.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
