The Central Bank of Nigeria (CBN) Governor, Mr. Godwin Emefiele, is to lead discussions at the 2018 annual conference of the Finance Correspondents Association of Nigeria (FICAN) which will open in Lagos on Saturday, September 15.
Emefiele will be joined by other executives in the nation’s finance industry which will include the representatives of the Nigerian Deposit Insurance Corporation (NDIC). The conference, with the theme: “Banks, Fintech and Nigeria’s Financial Inclusion Journey,” has Dr. Yinka David-West, who is the Digital Financial Inclusion Specialist at the Lagos Business School as guest speaker.
The event will also feature a panellist session with some bank chief executives, Financial Technology (FinTech) operators, as well as regulators to discuss the sub-theme: “Financial Inclusion: the Journey So Far.”In a statement, FICAN said FinTech companies and financial innovation are changing the competitive landscape of financial intermediation.
“Every commercial bank today knows what services to upgrade; because customers are already carrying out such transactions with FinTech startups. In the same manner, financial inclusion has continued to assume increasing recognition across the globe among policy makers, researchers and development oriented agencies.”
Continuing, it said the conference would be a step forward to finding the nexus, and its implications for meeting the financial inclusion target. It will also help to define roles that traditional banking and FinTechs occupy in this journey.
The CBN in collaboration with stakeholders had launched the National Financial Inclusion Strategy aimed at further reducing the exclusion rate to 20 per cent by 2020. Among other things, the conference will bring together experts from global multilateral financial institutions, public and private sector players, to highlight and examine the various options available for bringing the unbanked into the financial system using technology.
It is also a learning conference designed to enhance awareness, deepen understanding of financial journalists on the role of financial technology in rendering banking services cheaper, faster and conveniently.The conference will be attended by journalists covering money market, capital market and the Insurance industry, from the print and electronic media.
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