Dr. Adetona Adedeji, the Acting Director of the Banking Supervision Department at the Central Bank of Nigeria (CBN), has emphasized the ongoing innovations in the global banking industry that aim to enhance the consumer experience. Speaking at the 30th Nigerian Economic Summit (NES) in Abuja on Monday, Dr. Adedeji highlighted the significance of these developments, especially in e-channels, noting that the future lies in leveraging artificial intelligence (AI).
He emphasized that banking relies on trust and confidence, warning that any erosion of confidence in the financial system could lead to major issues. Adedeji also addressed the CBN’s efforts to reduce inflation in Nigeria, reassuring citizens that current policies are designed to phase out inflation gradually. He called for patience from Nigerians as the CBN continues to implement strategies to stabilize the economy.
In addition, Taiwo Oyedele, Chairman of the Presidential Committee on Fiscal Policy and Tax Reforms, mentioned that the government is reducing the tax burden on businesses and creating policies that encourage exports. Oyedele also noted the importance of incentivizing global companies to invest in Nigeria, positioning the country as a favorable investment destination.