Sunday EhigiatorThe Senate Committee on Banking, Insurance and Other Financial Institutions has intensified efforts to strengthen Nigeria’s financial system, convening an expanded stakeholders’ engagement with key financial sector regulators and experts to promote economic stability, financial inclusion and sustainable growth.
The high-level engagement, held in Lagos over the weekend, brought together the leadership of the Central Bank of Nigeria (CBN), Nigeria Deposit Insurance Corporation (NDIC), Asset Management Corporation of Nigeria (AMCON), National Insurance Commission (NAICOM) and Nigeria Export-Import Bank (NEXIM), among other stakeholders.Speaking at the engagement, Chairman of the Senate Committee, Senator Mukhail Adetokunbo Abiru (Lagos East), who was represented by Senator Osita Izunaso (Imo West), reaffirmed the Senate’s commitment to legislative reforms and stronger collaboration with financial regulators.
Abiru said the Senate recognised the critical role of the financial sector in driving investment, job creation, business growth and macroeconomic stability.
He said current economic realities required closer cooperation between lawmakers, regulators and other stakeholders, particularly in addressing inflationary pressures, global economic uncertainties, cybersecurity threats, low insurance penetration and the need to diversify Nigeria’s export base.
