CBN Governor, Olayemi Cardoso, Bags CIBN Fellowship; Unveils 2025 Economic Agenda

CBN Governor, Olayemi Cardoso, Bags CIBN Fellowship; Unveils 2025 Economic Agenda

By Anthony Emeka Nwosu

The Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has been conferred with the prestigious Fellowship of the Chartered Institute of Bankers of Nigeria (CIBN) at the 59th Annual Bankers Dinner held in Lagos. In his keynote address, Cardoso outlined Nigeria’s economic outlook for 2025, emphasizing the need for greater economic diversification and robust reforms to ensure financial stability.

Banking Sector Resilience and Economic Reforms
Reflecting on the past year, the governor highlighted the resilience of the banking sector, citing a non-performing loan (NPL) ratio under 5% and liquidity ratios exceeding 30%. He assured that banks are well-positioned to drive economic growth, particularly through increased credit access for micro, small, and medium enterprises (MSMEs).

“Our journey toward economic reform has yielded encouraging results,” Cardoso noted, adding that the CBN is committed to fostering trust and stability in the financial system.

The Riot Act on Financial Malpractices
Addressing allegations of financial malpractice and deliberate cash flow disruptions, the CBN governor read the riot act to institutions found culpable. “The CBN will not tolerate any sabotage of seamless cash flow for Nigerians,” he said, urging customers to report difficulties in withdrawing cash from bank branches or ATMs directly to the CBN starting December 1, 2024.

Inflation, Innovation, and Financial Inclusion
While acknowledging that inflation remains unacceptably high, Cardoso expressed optimism, saying, “Our commitment to price stability is unwavering. We aim to ensure the benefits are felt by every Nigerian.”

He commended Nigeria’s burgeoning fintech sector for driving financial inclusion and attracting global investors, with several startups achieving unicorn status this year. “Nigeria’s leadership in innovation is undeniable,” he declared.

Payment System Vision 2025 and Capacity Building
Unveiling the CBN’s Payment System Vision 2025, Cardoso outlined plans to advance cross-border payments, implement an open banking framework, and expand the regulatory sandbox to foster innovation.

He also announced the launch of comprehensive mentorship and capacity-building initiatives to equip young Nigerians with the skills needed to drive economic resilience and sustainable growth.

A Call to Collective Action
Cardoso charged financial institutions to rise to their market-making responsibilities and deliver tailored solutions that empower customers to manage risks effectively. “This is not just the Central Bank’s journey; it is Nigeria’s journey. Building an economy where every individual, business, and community thrives requires collaboration among banks, regulators, businesses, and citizens,” he stated.

Recognition and Fellowship Awards
The evening also celebrated outstanding contributions to the banking industry, with CBN Governor Cardoso and Lagos State Governor Babajide Sanwo-Olu being awarded the CIBN Fellowship for their dedication to economic transformation.

As Nigeria steps into 2025, Cardoso’s vision signals a robust and inclusive approach to tackling economic challenges and positioning the nation as a leader in innovation and financial growth.

 

NDPC Hosts Capacity-Building Workshop for Health Records Officers, Wins Prestigious Award

NDPC Hosts Capacity-Building Workshop for Health Records Officers, Wins Prestigious Award

 

The Nigeria Data Protection Commission (NDPC), in collaboration with the Health Records Officers Registration Board of Nigeria, recently organized a capacity-building workshop aimed at enhancing the skills of Health Records Officers from various states across the country. The event, which focused on the critical importance of data protection in the health sector, was inaugurated by the Minister of State for Health, Dr. Tunji Alausa, represented by his Senior Technical Assistant, Dr. Mrs. Obiajulu Ugbo. The National Commissioner and CEO of NDPC, Dr. Vincent Olatunji, delivered the opening remarks.

Dr. Olatunji highlighted the sensitive nature of health data, emphasizing the need for rigorous protection measures. He stressed the significance of the training, noting that the participants represent over 40,000 health professionals responsible for managing health records nationwide. To illustrate the potential risks, he shared real-life case studies demonstrating the severe consequences of data breaches on patient safety. Dr. Olatunji urged the attendees to focus on the training and participate in the National Certification process, which he described as a vital step toward seizing opportunities within the burgeoning data privacy sector.

In recognition of his contributions to data protection within the health sector, Dr. Vincent Olatunji was honored with an honorary membership award during the event. The workshop also saw the participation of the Registrar of the Health Records Officers Registration Board of Nigeria, Alhaji Babagana Mustapha, alongside other key officials from the Board.

In addition to the workshop, the NDPC was recently celebrated as the Most Outstanding MDA of the Year at the DigiVation Future Summit & Awards 2024. This prestigious accolade underscores the remarkable achievements of Dr. Vincent Olatunji and the NDPC’s significant impact on Nigeria’s digital and data security landscape.

 

 

Anthony Emeka Nwosu

#championingprivacyrights

Director General of NITDA, Kashifu Inuwa, Receives Prestigious Award as Most Valuable Personality in Nigeria’s Digital Economy

Director General of NITDA, Kashifu Inuwa, Receives Prestigious Award as Most Valuable Personality in Nigeria’s Digital Economy

 

 

In a momentous recognition of his outstanding contributions to Nigeria’s digital landscape, Mr. Kashifu Inuwa, the Director General of the National Information Technology Development Agency (NITDA), has been honored as the Most Valuable Personality in the country’s digital economy by ITedgenews.

This esteemed award underscores Mr. Inuwa’s visionary leadership and remarkable efforts in propelling the Nigerian tech sector to new heights, consequently positioning NITDA as one of the most influential government agencies in the country.

Speaking on the significance of this accolade, Mr. Segun Oruame, the Chief Executive Officer of KnowHow Media and IT Edge News, remarked, “Kashifu Inuwa has demonstrated exceptional leadership in steering NITDA towards achieving its objectives. His visionary approach has significantly contributed to the vibrancy of the tech sector in Nigeria.”

The award ceremony is scheduled as part of the “Forum for 50 Most Valuable Personalities in Nigeria’s Digital Economy,” taking place today in Lagos. This prestigious event brings together key regulators, industry leaders, and stakeholders to celebrate the remarkable achievements within Nigeria’s digital ecosystem.

Themed as “A Day of Insight and Recognition,” the forum will feature engaging discussions on pivotal topics such as “Nigeria’s Digital Dynamics and the New Economy,” “Navigating Challenges and Opportunities in Nigeria’s Digital Economy,” and “Shaping the Future of Nigeria’s Digital Landscape.”

This recognition serves as a testament to Mr. Kashifu Inuwa’s exemplary leadership and unwavering commitment to advancing Nigeria’s digital economy to greater heights