NDIC, NSIA, AMCON, Others Back FICAN’s Capacity-Building Drive

The Nigeria Deposit Insurance Corporation (NDIC), Nigeria Sovereign Investment Authority (NSIA), Asset Management Corporation of Nigeria (AMCON) and leading financial institutions have pledged stronger support for capacity building in financial journalism as sweeping reforms continue to reshape Nigeria’s banking, taxation, capital market and fintech sectors.

The institutions, alongside United Bank for Africa (UBA), ProvidusUnity Bank and other stakeholders, said strengthening journalists’ capacity to understand and interpret complex economic policies was essential to improving public understanding, transparency, investor confidence and accountability in the financial system.

The commitment was made in Lagos as stakeholders rallied behind initiatives aimed at equipping financial journalists with specialised knowledge, improved access to data and professional mentorship to enhance reporting of banking, public finance, investments, taxation and financial technology.

Other institutions supporting the initiative include Fidelity Bank, Stanbic IBTC, Union Bank, Zenith Bank, Ecobank, First City Monument Bank (FCMB), Coronation Group, Development Bank of Nigeria (DBN), Nigerian Communications Commission (NCC) and Nigerian Interbank Settlement System (NIBSS).

Also involved are Tatum Bank, GTCO, Strategic Effects Limited, PenCom, Moniepoint and Dangote Group.

The development comes against the backdrop of Nigeria’s ongoing financial-sector reforms, including banking recapitalisation, the implementation of major tax reforms and the rapid expansion of fintech and digital financial services.

Stakeholders noted that the growing complexity of economic policies had made specialised financial journalism increasingly important, particularly as regulatory changes have direct implications for businesses, investors and households.

They stressed that effective financial reporting must go beyond announcing policy decisions to explaining their economic consequences, interrogating implementation challenges and providing the public with sufficient information to make informed financial decisions.

The reforms reshaping the financial sector have also expanded the responsibilities of banks in areas such as tax administration, foreign-exchange monitoring, financial transparency and electronic payments.

Stakeholders therefore emphasised the need for journalists with the capacity to interrogate financial policies, analyse regulatory changes and accurately explain their implications to the public.

Against this backdrop, the Finance Correspondents Association of Nigeria (FICAN) is bringing together policymakers, regulators, banking executives, fintech innovators, economists and capital-market operators at its 36th Anniversary Annual Conference in Lagos.

The conference, scheduled for September 19 and 20, 2026, will be held at Orchid Hotels, Dreamworld Africana Way, Lekki, Lagos.

With the theme, “Building on the Gains of Recapitalisation, Tax Reform and Fintech Revolution,” the two-day event is expected to examine how ongoing reforms can be consolidated to promote economic growth, attract investment inflows, deepen financial inclusion and build a more resilient financial system.

The conference comes as the banking industry adjusts to the outcome of the recapitalisation exercise, the Federal Government implements a new tax regime and fintech continues to transform payments, lending and the delivery of financial services.

The Deputy Governor, Corporate Services, Central Bank of Nigeria (CBN), Dr Muhammad Sani Abdullahi, will deliver the keynote address, while the Group Managing Director and Chief Executive Officer of United Bank for Africa (UBA), Dr Oliver Alawuba, will serve as guest speaker.

Panel discussions will feature representatives of the Nigeria Inter-Bank Settlement System (NIBSS), OPay Digital Services Limited, ProvidusUnity Bank, Coronation Group, the Office of the Tax Ombud and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN).

The sessions will examine the gains and outstanding challenges associated with banking recapitalisation, tax reform and the fintech revolution, as well as their implications for financial stability, investment and economic growth.

In a jointly signed statement, FICAN Chairman, Chima Titus Nwokoji, and Secretary General, Sam Diala, described the conference as a strategic platform for reviewing the progress of the reforms and identifying practical measures to sustain economic growth.

Nwokoji said the convergence of banking recapitalisation, tax reforms and fintech expansion had created a defining moment for the Nigerian economy.

“This year’s conference comes at a defining moment for Nigeria’s economy. Banking recapitalisation, tax reforms and the rapid expansion of financial technology are reshaping the financial services landscape,” he stated.

According to him, the conference will bring together policymakers, regulators and industry leaders to assess the gains recorded so far and develop practical recommendations capable of deepening financial stability, promoting inclusive growth and enhancing investor confidence.

He added that the event would also examine ways of sustaining investor confidence, strengthening financial stability, accelerating digital innovation and ensuring that the benefits of the reforms translated into tangible improvements for businesses and ordinary Nigerians.

FICAN, which brings together about 150 journalists and editors covering the financial industry across print, electronic and online platforms, has for 36 years promoted responsible financial journalism and informed public debate on economic policies.

The association said its annual conference would continue to provide a platform for stakeholders to examine major developments affecting the financial system and the wider economy.

The 2026 edition is expected to strengthen the relationship between financial journalism and economic policymaking by providing journalists with direct access to policymakers, regulators and industry operators.

FICAN stressed that sustained engagement among the media, regulators, financial institutions, investors and policymakers would be crucial to consolidating the gains of current reforms.

It said stronger institutions, increased investment, greater financial inclusion and sustainable economic growth would depend not only on the quality of policies adopted but also on effective implementation, public understanding and continuous scrutiny.

The capacity-building support from NDIC, NSIA, AMCON, Fidelity Bank, Stanbic IBTC, Union Bank, Zenith Bank, Ecobank, FCMB and the other participating institutions is expected to complement FICAN’s broader efforts to strengthen financial journalism as an instrument for transparency, accountability and informed economic decision-making.