The Acting Director of the Banking Supervision Department at the Central Bank of Nigeria (CBN), Dr Adetona Adedeji, has disclosed that the banking industry is currently experiencing a wave of innovations worldwide.
Speaking at the 30th Nigerian Economic Summit (NES) in Abuja yesterday, Adedeji highlighted that these innovations are aimed at enhancing the consumer’s experience through seamless operations.
He emphasized that the CBN has introduced several innovations, particularly in the e-channel sector, with a focus on artificial intelligence as the next frontier for banking innovation.
Adedeji stressed the importance of trust and confidence in the banking sector, noting that erosion of these elements could lead to significant problems.
Additionally, he reassured the public that the CBN is working diligently to combat inflation, urging patience and understanding from all stakeholders during this process.
Mr Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, also emphasized the government’s commitment to supporting exports and reducing the tax burden on businesses.
He highlighted the need for incentives to attract foreign investment and reaffirmed the government’s dedication to creating a conducive environment for businesses to thrive in Nigeria.