Nigeria’s fiscal and financial authorities are pushing public confidence and crisis preparedness to the centre of efforts to strengthen Africa’s financial stability, warning that fragile trust can quickly undermine even well-capitalised banking systems.
Speaking at the opening of the 2026 International Association of Deposit Insurers (IADI) Africa Regional Committee Annual Meeting and Workshop in Abuja on Tuesday, Taiwo Oyedele, finance minister and coordinating minister of the economy said economic growth depends on a stable financial system, while stability itself rests on public trust.
“The theme of this workshop rests on one fundamental truth: there can be no economic growth without financial system stability, and there can be no financial stability without public trust,” Oyedele said.
The three-day gathering, hosted by the Nigeria Deposit Insurance Corporation (NDIC), brings together deposit insurers, regulators and financial safety-net institutions from across Africa to discuss public awareness, crisis readiness and the future resilience of financial systems.
Oyedele said deposit insurance has evolved from a mechanism focused mainly on managing failed banks into a strategic tool for maintaining confidence and preventing instability.
