President Bola Tinubu has urged bankers, stakeholders, and investors to fully support the new economic reforms aimed at creating institutions that are inclusive, accountable, and agile. He made this statement during the 18th Annual Banking and Finance Conference hosted by the Chartered Institute of Bankers of Nigeria (CIBN) in Abuja on Tuesday. Tinubu was represented by Mr. Wale Edun, the Minister of Finance and Coordinating Minister of the Economy.
The President pointed out that the recent government reforms have bolstered credibility and turned policies into tangible incentives that promote inclusivity. He highlighted key reforms including the unification of foreign exchange rates, the removal of fuel subsidies, tax reforms, and infrastructure financing.
According to Tinubu, these reforms have significantly boosted non-oil revenue collection, which grew by 40.5 percent Year-on-Year (YoY) between January and August. He also noted a rebound in Foreign Direct Investment (FDI) inflows, which reached $2.8 billion in the first half of 2025. Additionally, he mentioned that public debt sustainability relative to Gross Domestic Product (GDP) has improved by 37 percent.
“Inclusion means creating quality jobs, particularly for our youth,” Tinubu emphasized. He asserted that in a fast-evolving world, nations that innovate, reform, and collaborate are those that will succeed, and Nigeria is committed to that path.
On the topic of technology, he stressed that stakeholders should leverage technology as a tool for equality rather than division. Sen. Mikhail Adetokunbo, Chairman of the Senate Committee on Banking, Insurance, and other Institutions, remarked that the conference theme was very relevant, reflecting the current challenges in the country. He assured that the National Assembly would continue to create a solid legislative environment that fosters innovation, urging participants to embrace innovation while maintaining stability.
Dr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN), announced that the bank aims to achieve a diaspora reserve of $1 billion by 2026, up from the current $600 million. He mentioned that the CBN has laid the groundwork necessary to meet this target and now it is up to the banks to make it a reality.
“I want to commend all the banks involved in this effort, including Zenith, Access, and Fidelity, among others. This initiative is crucial because it significantly impacts how our diaspora views us,” he stated.
Mr. Oludare Sunday, Managing Director of the Nigeria Deposit Insurance Corporation (NDIC), reiterated the corporation's commitment to supporting innovation within the financial ecosystem. Speaking through Mr. Wale Sule, Director of Claims Resolution, he assured that NDIC is dedicated to ensuring that all bank depositors receive their claims without exception.
Finally, Mr. Oliver Alawuba, Chairman of the Body of Banks Chief Executive Officers (CEOs), expressed that Nigeria stands at a pivotal moment in history where economic dynamics are being transformed by digital advancements, evolving policies, and a fresh wave of innovation.