admin

Total Post: 5128

Governor Sanwo-Olu Launches N10 Billion LASMECO Fund to Boost SMEs in Lagos

Governor Sanwo-Olu Launches N10 Billion LASMECO Fund to Boost SMEs in Lagos

 

Lagos State Governor, Babajide Sanwo-Olu, has unveiled a groundbreaking financial initiative aimed at empowering grassroots entrepreneurs and boosting the state’s economy. The program, known as the Lagos State Access to Finance for SMEs Through Cooperatives (LASMECO), was officially launched following a landmark agreement with the Bank of Industry (BOI) and Sterling Bank.

The N10 billion public-private fund will provide Micro, Small, and Medium Enterprises (MSMEs) with non-collateralized loans of up to ₦10 million at a competitive 9% annual interest rate. Beneficiaries will also enjoy a six-month moratorium period. The loans will be disbursed through verified cooperative societies, a move Governor Sanwo-Olu described as a strategic model to ensure both accountability and community impact.

Speaking at the launch, the governor said, “Today marks a significant step forward in our journey to build a more inclusive and resilient economy in Lagos State. This isn’t just about funding — it’s about removing systemic barriers that have kept too many entrepreneurs from reaching their potential.”

The LASMECO initiative is designed to serve entrepreneurs from diverse sectors including healthcare, agriculture, manufacturing, the creative industry, and the circular economy. According to the governor, this targeted approach will not only uplift individual businesses but also help strengthen entire communities.

“From a tailor in Yaba to a food processor in Ikorodu, LASMECO offers them a fair chance to grow based on their ideas, not their assets,” Sanwo-Olu added.

He praised the collaboration between government and financial institutions that made the fund possible, emphasizing that inclusive prosperity is achievable when support is extended from the grassroots upward.

The LASMECO fund is expected to create ripple effects across Lagos’ informal sector and stimulate sustainable development through job creation and enterprise expansion.

By

 

Anthony Emeka Nwosu

NADPA-RAPDP Conference: Plenary Session Highlights Push for Harmonized Data Protection Framework in Africa

NADPA-RAPDP Conference: Plenary Session Highlights Push for Harmonized Data Protection Framework in Africa

Abuja, Nigeria – The ongoing conference of the Network of African Data Protection Authorities (NADPA-RAPDP) witnessed a key milestone as delegates gathered at the Transcorp Centre for the first plenary session, centred on the theme: “Exploring the Benefits and Challenges of a Harmonized Regulatory Framework.”

The session brought together high-level stakeholders, policymakers, and regulators from across the continent to deliberate on the pressing need for a unified approach to data protection in Africa. In his compelling keynote address, Alhaji Abdul-Hakeem Ajijola, a leading cybersecurity expert, offered a comprehensive analysis of the diverse data protection regulations currently in force across African nations. He highlighted the fragmented nature of existing frameworks and emphasized the urgent need for regulatory alignment to safeguard privacy rights, foster digital trust, and enable cross-border data flows.

Ajijola further stressed that a harmonized regulatory approach would not only streamline compliance for multinational entities but also reinforce Africa’s position in the global data governance landscape.

The session also featured an insightful panel discussion chaired by Omar Seghrouchni, National Commissioner of Morocco’s National Commission for the Control of Personal Data Protection. The panel brought together an array of distinguished data protection leaders including Dr Vincent Olatunji, National Commissioner and CEO of the Nigeria Data Protection Commission (NDPC); Ousmane Thiongane, President of Senegal’s Commission for the Protection of Personal Data; Kassit Immaculate, Data Protection Commissioner of Kenya; and Luciano Hounkponou, President of Benin’s Personal Data Protection Authority, who represented the Chairperson of the High Authority for the Protection of Personal Data in Niger.

The panelists shared country-specific experiences and challenges in implementing data protection laws, while advocating for deeper collaboration among African data protection authorities. Discussions also examined the role of regional bodies such as the African Union in driving standardization and facilitating mutual recognition of data protection regimes.

As digital economies across Africa continue to grow, the call for regulatory coherence has become more critical. This plenary session served as a catalyst for ongoing dialogue and action toward building a robust, harmonized data protection environment that supports innovation, protects personal data, and respects citizens’ rights.

The NADPA-RAPDP conference continues with further sessions scheduled to deepen discussions on regulatory cooperation, enforcement, and emerging data protection trends across the continent.

NITDA, Google Hold Strategic Workshop to Accelerate Nigeria’s Digital Transformation Agenda

NITDA, Google Hold Strategic Workshop to Accelerate Nigeria’s Digital Transformation Agenda

In a landmark move to fast-track Nigeria’s digital economy and position the country as a global tech powerhouse, the National Information Technology Development Agency (NITDA) and technology giant Google have commenced a high-level two-day collaborative workshop. The event, which kicked off this week in Abuja, marks a pivotal step in actualizing a broader strategic partnership between the Federal Government and Google, following a significant meeting between President Bola Ahmed Tinubu and Google CEO Sundar Pichai in Paris on February 10, 2025.

The workshop aims to validate critical findings and refine a draft framework built around five transformative pillars that will guide the collaboration between NITDA and Google. These pillars include:

  1. Scalable Digital Infrastructure – Expanding and strengthening Nigeria’s tech backbone to enable widespread internet access and digital connectivity across urban and rural areas.

  2. Digital Skills Empowerment – Equipping millions of Nigerians, especially youth and women, with the skills needed to thrive in the 21st-century digital economy.

  3. Artificial Intelligence Innovation and Research – Promoting AI development and research to solve local and regional challenges while fostering a knowledge-based economy.

  4. Cloud Adoption for Digital Government – Enabling government agencies to transition to secure, scalable, and efficient digital platforms for better service delivery.

  5. Strengthening Digital Investment – Attracting local and foreign investment into Nigeria’s burgeoning digital and tech ecosystem.May be an image of 12 people, people studying and text

The forum has brought together key stakeholders from across government ministries, the private sector, academia, and civil society. Their engagement is aimed at fostering inclusivity, policy alignment, and local ownership of the digital transformation blueprint.

Director General of NITDA, Kashifu Inuwa Abdullahi, emphasized that the workshop represents more than just policy development — it is a signal of intent and commitment from both parties to build a robust digital economy that empowers Nigerians and drives innovation.

“This collaboration with Google aligns with our broader mission to implement the Nigeria Digital Economy Blueprint and support the President’s Renewed Hope Agenda,” Abdullahi stated. “We are not just planning for the future; we are designing it with the right partners.”

On Google’s side, the initiative reflects the company’s ongoing investment in Africa’s digital potential. Google’s Africa Director of Government Affairs and Public Policy, Charles Murito, reiterated the company’s long-term commitment to Nigeria’s technological advancement.

“Our partnership with NITDA is part of Google’s broader goal to unlock digital opportunities, support entrepreneurship, and build local solutions powered by AI and cloud computing. Nigeria is critical to Africa’s digital growth story, and we are excited to be part of this journey,” he said.

Participants at the workshop are expected to provide input that will help shape the final implementation strategy, which will serve as a roadmap for Nigeria’s tech-driven transformation. The collaboration is projected to generate significant economic and social dividends, including job creation, enhanced productivity, and improved public sector efficiency.

As Nigeria pushes forward in its quest to diversify the economy and harness the power of digital innovation, the NITDA-Google partnership stands out as a model of public-private collaboration with the potential to make lasting impact on the nation’s future.

NITDA, MasterCard Deepen Ties to Boost Data Governance and Digital Innovation in Nigeria

NITDA, MasterCard Deepen Ties to Boost Data Governance and Digital Innovation in Nigeria

In a significant move to bolster Nigeria’s digital transformation agenda, the Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa Abdullahi, hosted a high-powered delegation from MasterCard at the agency’s corporate headquarters in Abuja. The team was led by Mr. Derek Ho, Deputy Chief Privacy Officer of MasterCard.

The strategic meeting marked a milestone in collaborative efforts between the federal agency and the global financial technology giant, as discussions focused on leveraging data sharing frameworks and privacy-enhancing technologies to stimulate productivity and national growth.

At the heart of the engagement was a shared vision to promote digital innovation, strengthen data governance systems, and ensure the protection of citizens’ digital privacy in line with global standards. Both parties reiterated their commitment to exploring innovative solutions that address the challenges of the evolving digital economy while safeguarding the integrity of data ecosystems.

Speaking during the meeting, NITDA’s Director General, Mr. Abdullahi, expressed the agency’s strong desire to collaborate with international technology leaders such as MasterCard. He emphasized that such partnerships are crucial in aligning Nigeria’s digital transformation agenda with globally accepted best practices.

“We believe that strategic collaboration with trusted global stakeholders is vital to building a resilient and inclusive digital economy. Our goal is to ensure that Nigeria remains at the forefront of digital innovation, particularly in areas of data protection and responsible technology deployment,” the DG noted.

On his part, Mr. Derek Ho highlighted MasterCard’s continued interest in supporting Nigeria’s digital development journey. He affirmed the company’s readiness to work with NITDA to facilitate knowledge exchange, capacity building, and the adoption of advanced privacy technologies that empower individuals and organizations.

The meeting ended on a promising note, with both parties pledging to deepen engagement and formalize areas of mutual interest that will drive sustainable digital progress in Nigeria.

This latest development underscores NITDA’s proactive stance in forging cross-sectoral alliances aimed at accelerating the country’s digital economy goals, ensuring regulatory compliance, and enhancing public trust in data-driven innovation.

Would you like a visual banner or infographic to accompany this report for online or social media publishing?

Tayo Folorunsho Calls for Investment and Structural Reforms to Propel Abuja’s Entertainment Industry to Greater Heights

Tayo Folorunsho Calls for Investment and Structural Reforms to Propel Abuja’s Entertainment Industry to Greater Heights

Tayo Folorunsho, a leading Nigerian entertainment expert and Founder of Edutainment First International Ltd/GTE, has raised concerns about the challenges of running an entertainment business in Abuja. Despite the difficulties, he remains committed to overcoming these obstacles, urging for significant investments and coordinated reforms to unlock the full potential of Abuja’s entertainment industry.

Abuja, Nigeria’s capital city, is renowned for its political significance, booming real estate sector, and vibrant economy. However, Folorunsho, who has successfully run entertainment ventures in Lagos, notes that Abuja’s entertainment market is still in its infancy. Unlike Lagos, where the entertainment scene operates year-round, Abuja’s calendar is more limited, with events mostly concentrated around festive periods. This seasonal nature, coupled with inconsistent support from agencies and organizations, poses a challenge for entertainers and event managers seeking to build long-term businesses in the city.

In a recent media interview, Folorunsho shared his experience of entering the Abuja market, describing his initial attempts as a “misadventure.” “The first strides I made in Abuja were marked by setbacks. Despite the city’s vast potential, it operates with a different approach, and my early efforts were met with difficulties,” Folorunsho explained.

He highlighted key frustrations, including bureaucratic hurdles and a lack of proper infrastructure to support the entertainment sector. “In Abuja, the support system is difficult to navigate. Different agencies often come up with excuses such as ‘you’re not in the budget,’ or ‘the budget hasn’t been released.’ These obstacles make it harder to establish a successful entertainment business,” he said.

However, despite these challenges, Folorunsho remains resolutely optimistic about the future of Abuja’s entertainment industry. He believes the city has enormous potential for growth, especially with its rich land space and thriving tourism sector, which could provide a solid foundation for the development of the entertainment industry.

“The land space and tourist attractions in Abuja are among its strongest assets. These factors, if properly harnessed, can propel Abuja into a leading entertainment hub,” Folorunsho noted. “I urge entertainers who are gaining recognition in Abuja to remain and focus on building a lasting infrastructure for the entertainment industry in the city.”

He pointed out that while Abuja may not have the same all-year event calendar as Lagos, the city has untapped opportunities for growth. “Festive periods are when most events happen in Abuja, but with the right strategies, the city can develop an entertainment culture that runs throughout the year,” he added.

Folorunsho envisions a future where Abuja could rival Lagos as the entertainment capital of Nigeria. “I foresee a future where Abuja will become a booming entertainment destination. The city has the potential to surpass Lagos in terms of its entertainment industry, but this will require investment, policy reforms, and a collaborative effort from all stakeholders,” he emphasized.

In light of this, Folorunsho calls for greater investment in the sector and a comprehensive overhaul of policies affecting the entertainment industry in Abuja. He believes that with the right reforms, Abuja could become a central hub for entertainment in Nigeria, creating new opportunities for both emerging and established talent.

About Tayo Folorunsho
Tayo Folorunsho is a renowned Nigerian entertainment expert and the founder of Edutainment First International Ltd/GTE, a leading entertainment company focused on organizing and promoting events, shows, and entertainment-related projects across Nigeria. With years of experience in the industry, Folorunsho has played a pivotal role in shaping the Nigerian entertainment landscape, particularly through his work in Lagos. His dedication to developing Abuja’s entertainment sector positions him as a key advocate for investment and reform in the industry.

Are GTBank ATMs Losing Relevance in Nigeria?

Are GTBank ATMs Losing Relevance in Nigeria?

 

Anthony Emeka Nwosu

Recent data from GTBank’s 2024 Full Year Report, analyzed by data intelligence firm Statisense, points to a growing shift in how Nigerian customers are interacting with their bank cards — and the Automated Teller Machines (ATMs) may be taking the hit.

According to the report, local ATM transactions using GTBank cards plummeted from 52.62 million in 2023 to 34.60 million in 2024 — a significant 34.25% drop. In stark contrast, international ATM transactions rose by 12.03%, from 133,000 to 149,000 within the same period, highlighting a subtle but notable shift in usage patterns, especially among foreign currency cardholders.

While ATM usage shows contrasting trends, POS and web transactions remained largely stable. Local POS/web transactions dipped slightly by 3.05% (from 775.50 million in 2023 to 751.87 million in 2024), while international POS/web usage declined marginally by just 0.53%.

The numbers suggest that GTBank customers are increasingly favoring digital and POS payment channels over traditional ATMs, particularly for local transactions. With the rapid adoption of digital banking, contactless payments, and mobile transfers, the relevance of physical ATMs may continue to decline unless repositioned for evolving consumer habits.

The question remains — are GTBank’s ATMs slowly becoming obsolete in Nigeria’s fast-evolving fintech landscape? Only time — and future consumer trends — will tell.

Meta Threatens to Suspend Facebook and Instagram Services in Nigeria Over ₦464.5 Billion in Regulatory Fines

Meta Threatens to Suspend Facebook and Instagram Services in Nigeria Over ₦464.5 Billion in Regulatory Fines

 

 

Meta Platforms Inc., the parent company of Facebook and Instagram, is threatening to suspend its operations in Nigeria following a series of hefty fines totalling $290.3 million (₦464.5 billion) imposed by three federal regulatory agencies.

The sanctions include a $220 million (₦352 billion) fine from the Federal Competition and Consumer Protection Commission (FCCPC) for alleged anti-competitive practices; a $37.5 million (₦60 billion) fine from the Advertising Regulatory Council of Nigeria (ARCON) for unapproved advertising activities; and a $32.8 million (₦52.5 billion) fine from the Nigerian Data Protection Commission (NDPC) for alleged violations of data privacy laws.

This development places Nigeria at a critical crossroads in its digital journey. A suspension of Facebook and Instagram—two of the most widely used social media platforms in the country—could have sweeping consequences for both the economy and the nation’s international reputation.

The platforms are essential tools for millions of Nigerians engaged in digital marketing, e-commerce, entertainment, brand communication, and content creation. A shutdown would disrupt livelihoods, sever digital supply chains, and push countless young Nigerians—especially those who have built careers as influencers, marketers, developers, and online entrepreneurs—into unemployment.

Beyond the immediate economic disruption, Nigeria risks being seen globally as a nation that stifles innovation and investment through regulatory overreach. This perception could deter other multinational tech companies from setting up operations in the country, slow foreign direct investment in the digital sector, and hamper the growth of indigenous tech startups.

The fines, while legally enforceable, are being viewed by industry observers as a potential overregulation that might discourage global partnerships and undermine years of progress in positioning Nigeria as a leader in Africa’s digital economy.

Nigeria’s technology space has witnessed exponential growth in the past decade, driven largely by a youthful population, rising mobile connectivity, and a flourishing digital culture. The current standoff with Meta, however, casts a shadow over this progress and may send a discouraging message to current and prospective investors.

As the situation unfolds, the global business community will be watching closely. How Nigeria handles this impasse could have long-term implications—not only for the digital economy but also for its reputation as an innovation-friendly nation.

Anthony Emeka Nwosu

Prof. Yemi Osinbajo Highlights Regional Cooperation at Ghana’s Executive Leadership Retreat

Prof. Yemi Osinbajo Highlights Regional Cooperation at Ghana’s Executive Leadership Retreat

Anthony Emeka Nwosu

Former Vice President of Nigeria, Prof. Yemi Osinbajo, has emphasized the importance of shared insights and cross-border collaboration among African leaders, following his participation in the Executive Leadership Retreat organized for Ghana’s new government in Ada.

Speaking after the high-level engagement, Prof. Osinbajo described the retreat as an inspiring and timely initiative aimed at strengthening governance and regional development through dialogue and experience-sharing among former and current African heads of state.

“Honoured to participate in the Executive Leadership Retreat of Ghana’s new government in Ada. The sessions underscored the power of shared insight and regional cooperation,” he stated.

The retreat featured keynote addresses and strategic sessions aimed at equipping Ghana’s leadership team with transformative governance tools. Among the notable presenters were Ghana’s former President, H.E. John Mahama, and Nigeria’s former President, Dr. Goodluck Jonathan, both of whom shared reflections on leadership, democratic governance, and the importance of regional unity in tackling Africa’s pressing challenges.

Prof. Osinbajo praised the depth of the discussions and the visionary approach adopted by Ghana’s leadership, expressing optimism about the long-term impact of the ideas exchanged.No alternative text description for this image

“Earlier in the day, we were treated to inspiring presentations by H.E. President John Mahama and Nigeria’s former President, H.E. Dr. Goodluck Jonathan—reminding us that effective governance is strengthened when leaders exchange ideas across borders,” he noted.

He further added that the outcomes of the retreat could serve as a catalyst for progress not only in Ghana but across the continent.

“I look forward to seeing how the strategies discussed here translate into tangible progress for Ghana and, indeed, for our wider African community.”

The Executive Leadership Retreat comes at a time when many African nations are seeking to deepen reforms, boost institutional efficiency, and build more responsive governments. With thought leaders like Prof. Osinbajo and other former presidents in attendance, the gathering highlighted the growing momentum behind inter-African cooperation as a driver for sustainable development.

Start Innovation Hub CEO Hanson Johnson Applauds Techmybiz Demo Day as a Testament to Africa’s Rising Tech Powerhouse

Start Innovation Hub CEO Hanson Johnson Applauds Techmybiz Demo Day as a Testament to Africa’s Rising Tech Powerhouse

By Anthony Emeka Nwosu

In what has been described as a celebration of ingenuity, resilience, and digital innovation, Hanson Johnson, the Founder and Chief Executive Officer of Start Innovation Hub, has praised the recently concluded Techmybiz Demo Day as a bold affirmation of Africa’s growing influence in the global technology and entrepreneurship landscape.

Speaking shortly after mentoring and advising the 30 startups that emerged from the rigorous Techmybiz acceleration program, Johnson described the experience as both “thrilling” and “inspiring,” emphasizing the creative energy and entrepreneurial grit that defined the event.

“It was truly inspiring to witness the energy and innovation as 30 determined teams, who successfully navigated the Techmybiz acceleration program, took the stage to pitch their tech-driven solutions and articulate compelling business models to a room full of investors,” Johnson shared. “The dedication and ingenuity on display were a powerful reminder of the vibrant entrepreneurial spirit thriving across the continent.”

Techmybiz: A Catalyst for African Digital Transformation

The Techmybiz Nigeria initiative is designed as a comprehensive digital transformation accelerator that scouts, supports, and scales innovative solutions tailored for Micro, Small, and Medium Enterprises (MSMEs) in Nigeria. By bridging the gap between emerging technology and practical business needs, the program empowers young entrepreneurs to develop scalable, market-ready solutions that can address real-world challenges across key sectors.

From fintech to agritech, logistics to edtech, the startups showcased a diverse range of innovations, reflecting the depth and breadth of problems being solved through local ingenuity. For Johnson, watching the startups evolve from idea stage to investment-ready ventures highlighted the critical role that such structured support systems play in unlocking Africa’s innovation potential.

“Witnessing these ventures mature through the acceleration process and present their refined offerings underscored the impact of programs like Techmybiz in unlocking innovation and building scalable businesses,” he noted.No alternative text description for this image

Investor Confidence and Sectoral Relevance

The Demo Day wasn’t just a platform for pitching ideas—it was a robust engagement between founders and forward-looking investors. With inquisitive questions, keen observations, and real-time feedback, investors signaled a growing appetite for homegrown solutions that can scale beyond Nigeria to solve continental and global challenges.

Johnson emphasized that this growing investor confidence is a promising sign for the startup ecosystem.

“The palpable excitement in the room and the insightful questions from investors pointed to one thing—confidence in the capacity of African founders to create lasting value. These startups are not just solving problems; they are building the future of our economy.”

The Broader Impact: MSMEs and Inclusive Growth

As Africa’s MSMEs continue to grapple with structural limitations, lack of digital integration, and limited access to financing, the relevance of programs like Techmybiz cannot be overstated. By identifying high-potential startups and equipping them with tools, mentorship, and market exposure, the initiative is laying the groundwork for inclusive economic growth and digital competitiveness.

Johnson noted that Techmybiz is uniquely positioned to drive local impact while fostering global competitiveness.

“The initiative’s focus on MSME solutions ensures that innovation is not happening in a vacuum. These startups are responding to the real needs of Nigeria’s business landscape, and their success has the potential to transform communities and create jobs.”

Looking Ahead

As a leading voice in Nigeria’s tech ecosystem, Hanson Johnson expressed confidence in the future of the Techmybiz program and the startups it supports. He reaffirmed his commitment to mentoring and supporting the next generation of innovators.

“I’m optimistic about the future impact these startups will have—not just in Nigeria but across Africa. I am proud to have played a small part in their journey and look forward to seeing many of them become leading players in the tech and business ecosystem.”

The Techmybiz Demo Day, beyond its immediate impact, serves as a rallying point for stakeholders in the digital economy to invest in people, platforms, and partnerships that can shape the next frontier of African innovation.

#AfricanStartups #TechInnovation #VentureCapital #Nigeria #Techmybiz #Entrepreneurship #MSMEGrowth

CBN Governor Cardoso Highlights Nigeria’s Economic Progress, Reform Commitment at IMF/World Bank Spring Meetings

CBN Governor Cardoso Highlights Nigeria’s Economic Progress, Reform Commitment at IMF/World Bank Spring Meetings

By Anthony Emeka Nwosu


At the close of the 2025 International Monetary Fund (IMF) and World Bank Spring Meetings in Washington D.C., Central Bank of Nigeria (CBN) Governor Olayemi Cardoso delivered an optimistic and reform-driven message at a media briefing with Nigerian journalists, reaffirming Nigeria’s commitment to macroeconomic stability and inclusive growth.

Addressing the press, Governor Cardoso described the week as one of “highly productive engagements” with global financial leaders, international investors, and members of the Nigerian diaspora. According to him, the CBN delegation leveraged the global forum to spotlight Nigeria’s ongoing economic reforms and to explore strategies to deepen stability, enhance the financial sector, and stimulate broad-based growth.

“Thanks to the steps taken over the past 18 months, we have strengthened our monetary buffers and positioned Nigeria to better withstand external shocks,” he stated. Cardoso noted that investor confidence in Nigeria has been notably revived, with global financial stakeholders acknowledging the country’s improving economic fundamentals. This renewed confidence, he said, has been further validated by Fitch Ratings’ recent upgrade of Nigeria’s credit outlook, which underscores international recognition of the nation’s disciplined policy reforms.May be an image of 16 people and dais

Tackling the issue of inflation, Governor Cardoso was candid. “We recognize that inflation remains the most disruptive force to the economic welfare of Nigerians,” he said, affirming that the CBN’s current policy direction is squarely focused on sustainably reducing inflation to single digits. “Our goal is to restore price stability, protect household purchasing power, and lay the foundation for long-term investment.”

Highlighting improvements in Nigeria’s external reserves and balance of payments, Cardoso revealed that foreign reserves now exceed $38 billion—equivalent to nearly ten months of import cover. He also reported that in 2024, the country recorded a balance of payments surplus of $6.83 billion, the highest in years, driven by rising exports and increased capital inflows.

Investor sentiment, both from global financiers and the Nigerian diaspora, was described as overwhelmingly positive. “Nigeria is increasingly recognized as a rising economic force, admired for the resolve shown in implementing difficult but necessary reforms,” Cardoso noted.

On the banking sector, the CBN Governor emphasized the progress of the ongoing recapitalization efforts. He assured stakeholders that the process is gaining momentum and is broadly supported. “This will ensure that Nigerian banks are fully equipped to support the real economy with greater scale, stability, and capacity,” he added.

Concluding his address, Governor Cardoso reassured Nigerians of the government’s unwavering resolve. “To all Nigerians: these reforms are not easy, but they are delivering results. We have moved from a position of vulnerability toward one of growing strength, and our economic trajectory is beginning to turn positive,” he said.

“We return home mindful of global challenges yet filled with renewed commitment to stay the course and build on our gains in stability and resilience,” Cardoso concluded.