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Stakeholders Seek End To  Infrastructure Deficits, Barriers to  Achieving $1trillion Economy for Nigeria.

The quest for economic intelligence and
strategies that will mitigate  infrastructure deficits and  barriers on pathways to achieving  $1trillion economy in Nigeria will dominate  discussions at the Finance and Business Online Publishers (FiBOP) Annual National Conference 2025.
Finance Minister and Coordinating Minister of  the Economy, Mr. Wale Edun and his team will be aggregating emerging solutions to put the economy at an even keel at the upcoming event.
The Annual National Conference provides a platform for technocrats, economists, and  thought  leaders from across all sectors to  brainstorm on fundamental ways to fast track  the achievement of $1 trillion economy target.
The Ministry has confirmed full participation at the conference which is scheduled to hold on October 18th and 19th 2025 at Orchid Hotels Lekki, Lagos.
Specifically, the conference is also billed to identify innovative strategies for  diversifying from dependence on oil, by adapting technology, fostering innovation, investing in renewable energy, insurance, agriculture, and services.
Absolutely designed to chart  a clear plan for securing successful mutual accountability and investment strategies of crucial importance for Nigeria’s economic growth development.
Furthermore it is intended to show how  technology innovations, tax reforms, renewable energy, and agriculture will severally and jointly contribute to achieve the target of $1 trillion economy.
National development minded corporate Organizations have thrown their weights behind the conference.
Cornerstone Insurance PLC, NGX Group, Nigerian Agriculture Insurance Corporation (NAIC) and NASENI are amongst the latest  to join forces with emPLE Insurance, Universal Insurance, Nigerian Deposit Insurance Corporation (NDIC), Nigerian Agriculture Insurance Corporation, Nigerian Communications Commission (NCC), Nestle Nigeria PLC  and banks like Zenith, Polaris and Fidelity to ensure a grand and successful confab.
Commenting on preparations for the event, Chairman, Conference Planning Committee, Mr. Godson Ikoro, is very optimistic that FiBOP  will pull off a very  utilitarian conference that will generate fresh strategies to drive home Nigeria’s $1 trillion economy by 2030.
In the same vein, FiBOP President, Mr Charles Onwuatogwu in appreciating the support of the various partners backoned on more and organizations to join forces with other stakeholders to fast track the $1 trillion economy agenda and ensure better standard of living for Nigerians.
He reiterated that  partners and sponsors will enjoy a wide range of benefits from well articulated media exposure and publicity plan.
FiBOP is a registered body by the Corporate Affairs Commission made up of seasoned online publishers and editors, with wealth of experience in the print and electronic media, who are dedicated to promoting informed and balanced reporting of economic events and activities, wealth creation, and contributing to the growth and development of the Nigerian economy and the continent of Africa.
The association’s annual conference provides the needed platform for experts and stakeholders to contribute to issues of great national importance aimed at fostering inclusive growth, unity, and national prosperity.
Online Poster by — October 13, 2025 in News
CSCS Hosts Second Webinar On T+2 Settlement Cycle Transition

Navigating Nigeria's T+2 Settlement Cycle: Expert Insights
 The Central Securities Clearing System Plc (CSCS), Nigeria’s capital market infrastructure, is set to host its second stakeholder webinar on the transition to the T+2 settlement cycle, themed “Trade Associations Roundtable: Ensuring Stakeholder Readiness for T+2 Settlement.” The webinar will hold virtually via zoom on Tuesday, 15 October 2025 at 10:00 AM.
This second webinar builds on the momentum of the first, reinforcing CSCS’s commitment to engaging stakeholders and ensuring the smooth transition of Nigeria’s capital market from the current T+3 settlement cycle to T+2 in line with global best practices.
Haruna Jalo-Waziri, MD/CEO of CSCS Plc stated “The transition to T+2 settlement is not just a regulatory milestone—it represents a collective achievement for our market. At CSCS, we recognize that the success of this transition depends on shared understanding and readiness across all stakeholder groups. This second webinar is part of our commitment to continuous engagement, ensuring that every participant in the value chain is equipped and aligned for a smooth and efficient implementation.”
The event will feature remarks from top industry leaders, including Dr. Emomotimi Agama, Director General, Securities and Exchange Commission (SEC), Temi Popoola, Chairman, CSCS Plc, and Haruna Jalo-Waziri, MD/CEO, CSCS Plc. They will be joined by key representatives from market trade associations who will share perspectives on industry preparedness.
Confirmed speakers include Samuel Onukwue, Chairman, Association of Securities Dealing Houses of Nigeria (ASHON), Babatunde Majiyagbe, President, Association of Asset Custodians of Nigeria (AACN), and Seyi Owoturo, President/Chairman of Council, Institute of Capital Market Registrars (ICMR).
The interactive session will feature a robust Q&A segment to enable participants engage directly with industry leaders and clarify operational adjustments required for the T+2 transition.
Through initiatives such as this webinar, CSCS continues to demonstrate its leadership in driving operational efficiency, market development, and alignment with international standards, ensuring that Nigeria’s capital market remains resilient and globally competitive.
Registration for the webinar is now open via this Zoom link.
Online Poster by — October 11, 2025 in News
Dangote Refinery Clarifies Feedstock Imports, Reaffirms High-Quality Petrol Production

Dangote Petroleum Refinery has dismissed recent media reports alleging that it is importing finished petrol with high sulphur content into Nigeria, describing the claims as false and misleading.

 

In a statement issued on Friday, the company explained that, as a world-scale complex refinery, it processes a wide range of crude oils and intermediate feedstocks, which is a standard global practice aimed at optimising production and product quality.

 

“The cargo in question is an intermediate feedstock, not finished petrol,” the company said. “It will be fully refined in our processing units to meet both Nigerian and international quality standards.”

 

Operating within a Free Trade Zone, Dangote Petroleum Refinery said it refines and sells only high-quality fuels that comply with all regulatory specifications. The company added that its exports of petroleum products to the United States and Europe, among the world’s most regulated markets, underscore its adherence to international benchmarks for quality and safety.

 

Dangote Refinery further noted that all imported feedstocks are accompanied by quality certificates, which are transparently shared with regulators. “We are also willing to make these documents available to the public in the interest of full transparency and accountability,” the statement added.

 

The company reaffirmed its commitment to advancing Nigeria’s energy independence, maintaining global best practices, and delivering cleaner, high-quality fuels for both domestic and international markets.

 

 

 

Read Full Statement Below

 

Clarification on Importation of Intermediate Feedstocks

 

Dangote Petroleum Refinery has noted reports claiming it is importing finished petrol (PMS) with high sulphur content into Nigeria. These reports are false, malicious, and misleading.

 

As a world-scale complex refinery, Dangote processes a range of crude oils and intermediate feedstocks, a standard global practice aimed at optimising production and quality. The cargo in question is an intermediate feedstock, not finished petrol, and will be fully refined in our units to meet Nigerian and international quality standards.

 

Operating within a Free Trade Zone, Dangote Petroleum Refinery refines and sells only high-quality fuels, compliant with all regulatory specifications. Our exports of petroleum products to the United States and Europe, among the world’s most regulated markets, underscore our adherence to global benchmarks.

 

All imports are accompanied by quality certificates and shared transparently with regulators. Dangote Petroleum Refinery is also willing to make these documents available to the public in the interest of full transparency and accountability.

 

Dangote Refinery remains fully committed to advancing Nigeria’s energy independence, upholding the highest standards of quality and transparency, and delivering cleaner fuels for Nigeria and beyond.

 

Online Poster by — October 11, 2025 in Industry
Cornerstone Insurance Celebrates Customer Service Week 2025, Reaffirms Commitment To Customer Satisfaction

Cornerstone Insurance Plc joined organizations across the globe this week in commemorating the annual Customer Service Week, which runs from October 7 to 11.

This year’s celebration carried the bold theme “Mission Impossible,” highlighting the exceptional dedication and resilience of customer service teams in delivering top-tier service in challenging environments.

Throughout the week, Cornerstone Insurance rolled out a series of staff engagement activities, customer appreciation initiatives designed to reinforce the company’s commitment to customer satisfaction. The campaign celebrated frontline service personnel as unsung heroes who go above and beyond to ensure seamless client experiences.

In a statement, the management of Cornerstone Insurance Plc emphasized that the celebration serves as both recognition and motivation. “Customer Service Week gives us the opportunity to appreciate the individuals who make our service delivery possible and to reaffirm our promise to put customers first,” the company noted.

With interactive sessions, games, and awards recognizing outstanding staff performance, the insurer underlined its dedication to fostering a culture of excellence and innovation in customer engagement.

Cornerstone Insurance Plc, a leading player in Nigeria’s insurance sector, continues to distinguish itself through a combination of digital transformation and customer-centric policies—solidifying its reputation as a dependable and forward-thinking insurer.

Online Poster by — October 10, 2025 in News
Airtel Africa Champions Youth Empowerment With 100 Technology Scholarships

By Winifred Bosa
Following the recent announcement by its Chairman, Dr. Segun Ogunsanya, at a World Press Conference held in Lagos recently, the Airtel Africa Foundation, through Airtel Nigeria, has kicked off its Undergraduate Tech Scholarship Programme to benefit 100 Nigerian undergraduates.
This initiative will provide each recipient with a grant covering tuition, accommodation, study materials, and a stipend from the first year of study through the final year.
 This financial aid removes economic barriers, empowering students to dedicate their focus to academic and technical achievement in technology.
Eligible courses of study include Computer Science, Information Technology, Data Science, Software Engineering, Cybersecurity, Artificial Intelligence, and other ICT-related disciplines.
Commenting on the initiative, Dr. Ogunsanya affirmed that the scholarships represent the Foundation’s continued commitment to breaking down barriers for young Africans.
“At Airtel Africa Foundation, our vision has always been to create opportunities where talent meets ambition. With this scholarship, we are investing in Nigeria’s future tech leaders, giving them the resources and confidence to thrive in an increasingly digital world,” he stated.
Beneficiaries are selected from 100-level students enrolled in approved programmes in participating public universities across the country.
These institutions include the University of Lagos (UNILAG), the University of Nigeria, Nsukka (UNN), Ahmadu Bello University (ABU), the University of Benin (UNIBEN), Obafemi Awolowo University (OAU), the University of Ilorin (UNILORIN), and Tai Solarin University of Education (TASUED).
Airtel Nigeria CEO, Dinesh Balsingh, noted: “The prioritization of education as a pillar of our social investments becomes much stronger with these 100 new scholarships. They build on such other initiatives as our partnership with UNICEF on the Reimagine Education Programme, our Adopt-A-School project, and our 1 billion naira investment in the Three Million Technical Talent (3MTT) effort of the Federal Government.
 Ultimately, for us as an organisation, the best way to equip the future is to arm it with cutting-edge education.”
The undergraduate scholarship is a direct component of the Foundation’s four strategic pillars of Financial Inclusion, Education, Environmental Protection, and Digital Inclusion (FEED).
Online Poster by — October 10, 2025 in Industry
NETSCOUT Threat Intelligence Report For 1H 2025 Uncovers West Africa’s DDoS Endurance Test

Côte d’Ivoire, Burkina Faso and Mali underscore the rise of ‘slow burn’ attacks

West Africa is facing a new dimension of cyberthreats. While the number of attacks often dominates headlines, a quieter but equally dangerous trend is emerging: prolonged, ‘slow burn’ distributed denial of service (DDoS) attacks that can hold critical services offline for hours.

As noted by NETSCOUT SYSTEMS, INC. with the release of its latest global threat intelligence report, Côte d’Ivoire, Burkina Faso and Mali were all subject to lengthy incidents within the first six months of 2025, effectively putting the digital infrastructure of these countries through a gruelling endurance test.

Côte d’Ivoire suffered through the longest DDoS attack within the region, at an average duration of more than 415 minutes (almost seven hours), followed by Burkina Faso at 356.49 minutes (close to six hours), and then Mali at 336.63 minutes (more than 5.5 hours).

Bryan Hamman, regional director for Africa at NETSCOUT explains: “These extended attacks demonstrate that West African countries are not just facing frequent onslaughts – they are enduring hours-long disruptions that put critical services to the test.

“This is of particular significance when looking at the types of organisations exposed to these attacks. Telecommunications was overwhelmingly the hardest hit in all three countries: of Mali’s 4,145 incidents, more than 95 percent (3,951) affected wireless telecommunications organisations. Likewise for Côte d’Ivoire where, although with far fewer strikes overall (611), wireless telcos were the top of the list, with wired carriers coming in second. Burkina Faso measured in at 168 attacks in total for the six-month period, with 85 percent (143) of these within the wired telecommunications carrier space.

“A DDoS that lasts for six or seven hours will most definitely affect service availability in a major way, impacting on user access, revenue loss and reputational damage. The fact is that cybercriminals are not just launching many small or brief attacks; in some places, they are sustaining pressure. This could indicate changes in objectives, such as disruption rather than data theft, hacktivism or even experimentation in testing resilience,” he comments.

Comparative insights across the region: Mali and Nigeria

As previously stated by Hamman, Mali not only experienced one of the longest DDoS attacks in West Africa during the first six months of 2025, but it also saw the most incidents.

When compared to historically high-volume countries, such as Nigeria, Ghana and Guinea, it’s clear that Mali has seen the fastest growth trajectory in the region – from 115 in the first half of 2024, to 1,637 in the second part of the year, skyrocketing again to a staggering 4,145 for 1H 2025 – more than double Nigeria’s total of 1,844 from January to July this year.

“This could potentially be the result of ongoing political instability within the country, and early-stage cybersecurity capacity, in combination with its growing internet penetration.”

Nigeria did, however, still experience the most complex incidents within the region. The maximum number of vectors observed in a single attack was 23, the highest on the continent, as seen in other African countries such as South Africa, Kenya and Libya.

“Interestingly, while its top industries targeted did include wireless telcos as number one, Nigeria uniquely recorded 108 incidents aimed at beauty salons, the only country in the world to have this sector noted in NETSCOUT’s global report. Commercial banking was placed in fourth spot, with household appliances, electric houseware and consumer electronic merchant wholesalers rounding out the list in eight position.”

Countries seeing declines in DDoS incidents

In contrast to Mali, Côte d’Ivoire and Burkina Faso, which experienced protracted ‘slow burn’ attacks, other West African countries saw either lower volumes or a decrease in DDoS activity in the first half of 2025.

Ghana and Liberia for example, two countries that were highly affected in 2024, saw a significant drop for the first six months of this year.

From January to July 2024, Ghana led the West African region in both the frequency and diversity of cyber threats, subjected to a total of 4,753 attacks. This dropped significantly to 917 in the second half of 2024. The country has once more seen a drastic decrease in DDoS attacks of more than 80 percent, recording just 152 incidents for 1H 2025, albeit with a complex combination of attack vectors (18 seen in one incident). The telecommunications sector was almost exclusively under fire within the country, including wired telco businesses (94), wireless carriers (24) and satellite communications organisations (7) listed as the most targeted.

Similarly, 1,515 incidents were documented for the first half of 2024 in Liberia, with a slight decline to 1,189 for the latter part of the year. This has dipped again by more than 76 percent to 280 over 1H 2025, mostly focused on computing infrastructure providers (76) and wireless telcos (74).

Cameroon recorded 449 incidents; a notable decline compared to the previous reporting period of 811. The attacks primarily targeted wireless telecommunications carriers (448 of 449 incidents), and the average duration remained relatively short at just more than 35 minutes, highlighting a very different threat profile compared with the slow-burn nations.

The Republic of the Congo experienced 101 DDoS incidents, also mostly directed at wireless telecommunications carriers (26 incidents), with an average duration of around 22 minutes.

Guinea reported 141 incidents, with wireless telcos again the top target (37 attacks). Although the average duration was slightly longer than 41 minutes, the total number of incidents represents a significant reduction from the prior period (down from 341), indicating a regional easing in both frequency and impact.

“These countries demonstrate that not all West African nations are experiencing the slow-burn phenomenon,” comments Hamman. “While volumes and durations vary, the focus remains on telecommunications infrastructure, and sustained mitigation efforts appear to be paying off in places like Cameroon, the Republic of the Congo, and Guinea.”

NETSCOUT maps the DDoS landscape through passive, active and reactive vantage points, providing unparalleled visibility into global attack trends. NETSCOUT protects two-thirds of the routed IPv4 space, securing network edges that carried global peak traffic of over 800 Tbps in 1H2025. It monitors tens of thousands of daily DDoS attacks by tracking multiple botnets and DDoS-for-hire services that leverage millions of abused or compromised devices.

NETSCOUT SYSTEMS, INC. (NASDAQ: NTCT) protects the connected world from cyberattacks and performance and availability disruptions through its unique visibility platform and solutions powered by its pioneering deep packet inspection at scale technology. NETSCOUT serves the world’s largest enterprises, service providers, and public sector organizations.

Online Poster by — October 10, 2025 in News
Academy Press Plc Marks 60 Years Of Printing Excellence

Academy Press Plc., one of Nigeria’s foremost printing and publishing companies, is set to celebrate its 60 years of printing excellence and innovation.
The Diamond Jubilee Anniversary, themed “Celebrating the Past, Envisioning Tomorrow,” will take place on Wednesday, October 22, 2025, at the Lagos Oriental Hotel.
The event will honor their legacy, recognize stakeholder contributions, and look forward to future growth and innovation.
Speaking on the milestone, Mr. Olugbenga Ladipo, Managing Director of Academy Press Plc., said:
“This Diamond Jubilee is not only a celebration of our past achievements but also a reaffirmation of our commitment to innovation, excellence, and service. We are proud of our heritage, grateful to our stakeholders, and excited about the future we are building together.”
The celebration will host government dignitaries, corporate leaders, industry stakeholders, alumni, employees, and international partners.
It will also feature a red carpet reception, goodwill messages, keynote addresses, and engaging moments that connect the past, present, and future of Academy Press Plc.
With a legacy built on quality, precision, and trust, Academy Press Plc. remains committed to delivering world-class printing solutions and creating value for stakeholders in the years ahead.
Online Poster by — October 10, 2025 in News
Mechanized Agriculture; Fast High Yielding Seedlings Coming , Ukachukwu Promises Citizens

The regime of exploitative taxation, and crude health risking collection methods may be going for good in Anambra State.
This was revealed late afternoon yesterday by Prince Nicholas Ukachukwu, the Governorship flagbearer of the All Progressives Congress (APC) in the fast approaching November 8,2025 election when traders from parts of the state numbering above two thousand paid him a solidarity visit in Awka.
The traders under the aegis of Anambra Elite Traders Forum drawn from the twenty-one Councils of the state pledged their total support and those of all their friends, well-wishers, neighbors, household and customers to Ukachukwu’s Governorship aspiration come November 8,2025.
Speaking on their behalf, one of the leaders, Onyebuchi Onwuteeaka lamented that they were tired of the “state government-backed intimidation” of traders, transporters and commutters by some notorious brigands called revenue collection agents.
These agents of the Anambra state government kill, injure, brutalize, maim them. They also seize and destroy their wares and goods daily with relish.
Ukachukwu assured them that, “As governor, I will put an end to the activities of these multiple government-backed armed touts who go about inflicting pains on innocent citizens under the guise of revenue collection.
They include the notorious ‘Akaodo’ group”, SASA, ASTA, etc.
“My administration will undertake a comprehensive review of the current tax and revenue collection system, to make it fair, transparent, and humane to all residents, visitors and passers bye.
“Today, people are being brutalized in the name of revenue collection, lives are being lost, while insecurity continues to soar.
“Is this truly the kind of government we want to keep in power?
” Is this the African, Dubai Taiwan (ADT)that we promised four years ago? He wondered.”
The forum chorused No !
The APC flagbearer said his government would prioritize justice and human dignity in all aspects of life, especially in taxation. He promised to ensure that revenue collection will no longer be “a source of terror and suffering” for traders, transport operators and residents”.
Calling for a collective positive change and reform, Ukachukwu urged Anambra electorate to unite and elect a government that genuinely serves their interests. And that is what he represents.
According to him, “The time has come for a change of government with milk of human kindness in Anambra State,
“But this change, he pointed out “is not just about me, it is about securing the future of our dear state. I envision a new Anambra that works for everyone, where fairness, sincerity, and unity guide our actions.”
He appealed for sincerity and commitment among his supporters, encouraging them to go out, campaign, and mobilise votes.
“As governor, I will not interfere in your activities. You will have the freedom to run your affairs and choose your leaders. Together, we will build a State where every citizen has a voice and every community has a stake in her progress…”
His administration, he added, would create cooperatives across all markets to enable traders access grants and financial support, while also modernising agriculture to make it more profitable and less labour-intensive.
“I will engage with your leaders to establish cooperatives across all markets,” he said.
Again, for the farmers, “my administration will move away from the current labour-intensive agricultural practices and embrace modern, mechanised methods that make farming easier and more yielding and rewarding.”
He explained that economic empowerment, especially for women and youths, would be central to his development plan, saying the state’s economic growth depended largely on the resilience of its traders and farmers
Going down memory lane, he shared a deeply touching personal story about his late mother, whom he credited with shaping his values and purpose in life.
“I can see many hardworking women here today, mothers who toil daily to support their families,” he began. “Everything I am today, I owe to my mother’s love, prayers, and wisdom. In my formative years, her midnight counsel shaped me deeply. Sometimes, given the choice between receiving her advice or being flogged, I chose the cane, because her words pierced my soul more than any pain could.”
He revealed that his mother’s words once saved him from suicide, saying her guidance gave him direction and strength during his lowest moments.
“My mother saw greatness in me long before I could see it in myself. She warned me against following those who had no direction. Her wisdom saved me,” he said. “So when I look at mothers, I understand the sacrifices and sleepless nights you endure to raise children like us.”
Ukachukwu pledged to make women empowerment a priority, adding that his government would support mothers, widows, and female entrepreneurs through targeted social and economic programmes.
“As your governor, I will not hesitate to do all within my power to support you. And just as my mother lived to witness my success, I pray that every mother here will live long to eat the fruit of her labour.”
He urged voters to see their ballots as instruments of change and renewal.
“As we approach the November 8, 2025 governorship election, I urge you to vote for a secure and prosperous future, and that future begins with your vote for me,” he said. “Use your vote as a seed of faith, a seed of hope, and a seed for a better Anambra. Together, we will make history.”
Online Poster by — October 10, 2025 in News
Moniepoint Set to Launch Second Edition of Nigeria’s Informal Economy Report in Abuja  

 
A new study by Moniepoint Microfinance Bank, a proudly Nigerian-founded and led financial institution, has revealed that 42 per cent of Nigeria’s informal sector operators do not have enough savings to survive beyond one month without income, underscoring the fragile financial position of millions of small businesses across the country. The yet to be released report has received generous support from the Ministry of Industry, Trade, and Investment, and Small and Medium Enterprise Development Agency of Nigeria, SMEDAN.
The findings form part of the second edition of Nigeria’s Informal Economy Report, which Moniepoint is set to officially launch on Friday, October 17, 2025, at the Abuja Continental Hotel.
Nigeria’s informal economy is the backbone of the nation’s livelihood, accounting for over 80% of employment and driving the majority of economic activity. For millions of Nigerians locked out of formal employment structures, this sector is essential in serving as a bulwark against poverty.
According to Moniepoint, the Informal Economy Report is designed to provide evidence-based insights that can guide policymakers, regulators, and financial institutions in shaping interventions that strengthen and formalise informal enterprises.
“The Informal Economy Report is a robust and important study that examines the informal market more closely and curates fresh insights into its realities. We believe its key outputs will serve ecosystem players and government well in policy direction and execution,” said Babatunde Olofin, Managing Director of Moniepoint Microfinance Bank, in a statement ahead of the launch.
The event is expected to attract senior government officials, regulators, lawmakers, industry leaders, trade associations, academics, civil society, and development organisations. It will feature keynote addresses, panel discussions, and presentations of the study’s findings, with participants exploring strategies to create a more inclusive and sustainable economic landscape.
The Informal Economy Report 2025 follows the success of the inaugural edition, which received commendation from the Federal Ministry of Industry, Trade and Investment, the Corporate Affairs Commission, SMEDAN, and leading business associations for providing credible data and actionable recommendations.
Online Poster by — October 10, 2025 in News
NDIC, CIBN Strengthen Collaboration In Emerging Issues In The Financial Sector

Amaka Obiefuna

 

The Managing Director/Chief Executive of the Nigeria Deposit Insurance Corporation (NDIC), Mr. Thompson Oludare Sunday, has called for enhanced collaboration between the Corporation and the Chartered Institute of Bankers of Nigeria (CIBN) in addressing emerging risks and challenges within Nigeria’s banking sector.

 

The MD/CE made the call during a courtesy visit by the President/Chairman of Council of the CIBN, Prof. Pius Deji Olanrewaju, and members of his executive team to the NDIC Head Office, Abuja.

 

The NDIC Chief Executive emphasized the need for stronger partnership between both institutions in critical areas such as digital banking, cyber- security, fraud and forgery prevention, and sound risk management.

 

Mr. Sunday noted that while the phenomena of the emerging issues are on the rise, regulators and operators must come together to proffer solutions which help build a stronger financial ecosystem that withstands the vagaries of the innovations to deliver value to the economy.

 

While commending the growth of the CIBN as a professional body over the years, and its positive impact on the banking system, the NDIC Boss further called on the Institute to take critical interest in working more closely with regulators to fashion innovative failure resolution strategies that strengthen the overall resilience of the banking sector.

 

The NDIC boss reiterated the Corporation’s commitment to supporting professional institutions such as the CIBN in developing and implementing programs that foster innovation while maintaining sound risk management frameworks and financial system stability.

 

President/Chairman of Council of the CIBN, Prof. Pius Deji Olanrewaju congratulated Mr. Sunday on his appointment as Managing Director/Chief Executive of the Corporation. He expressed confidence in the capacity of the MD/CE to uphold the trust reposed in the Corporation by the public based on his sound track record and expertise.

He particularly commended the NDIC for its notable milestone achievements, highlighting the upward review of deposit insurance coverage aimed at strengthening public confidence in the banking system; the deployment of technology to expedite the reimbursement of depositors of the failed Heritage Bank; and the commencement of liquidation dividend payments within one year of the bank’s closure. Prof. Olanrewaju noted that these accomplishments have significantly enhanced depositor and investor confidence in the financial system.

 

The CIBN President also expressed appreciation to the NDIC for its invaluable contributions and active role as a member of the Institute’s Governing Council, noting that its participation has greatly strengthened the Council’s oversight functions, policy direction, and ethical leadership.

 

Online Poster by — October 9, 2025 in Insurance and Pension