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Fintech Growth: Experts Harp On Policies, Enabling Environment

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Financial experts at the ongoing Future Banking Tech West Africa Conference have called for an enabling environment and policies for fintech to thrive.
The Tide reports that the Future Banking Technology conference was organised to address the full value chain of West Africa’s banking and financial sector to achieve more financial inclusion and sustainable growth.
The conference had the theme: “ Innovation in Regulation – Overcoming Gaps in Rural Banking Strategies”.
According to Steven Ambore, Head Digital Financial Services, Central Bank of Nigeria (CBN), fintech globally bridges financial inclusion gap.
He said that the CBN recognised the importance of digital financial services and had strategised to ensure fintech’s adoption by the banking industry.
“To make any progress, we need to focus on creating the enabling environment for fintech to thrive, and CBN has instituted strategies toward that.
“There is a roadmap for that: introduction of a tradition licensing, trying to understand what fintech does and its problems, holding round table with stakeholders and others,” he said.
Ambore said that women and the youth were the most financially excluded, adding that the CBN was working toward bridging the gap.
He called on the financial sector to make financial services more accessible and affordable as well as ensure it would meet specific needs.
The Principal Economics Officer, Ministry of Finance, Ghana, Mr Benjamin Tordah-Klu said that a proper regulatory framework would be needed for fintech to thrive.
According to him, a lot is being done in the fintech space, especially in the area of payment, urging their adoption.
The Head, Financial Literacy Office, Consumer Protection Department, CBN, Mr Damola Atanda said that apart from an enabling environment, financial literacy was of essence.
According to him, we have technology, but the problem is what we do with the technology. We have to make it impact on the people.
“Forty million excluded Nigerians in rural areas have been living their lives well without technology; introducing financial technology to them will be strange because they will be wondering its use.
“How to get them to understand banking solutions is where financial literacy comes in, and they should be made to understand the enormous responsibilities that come with it,” he said.
He advised that the CBN should work with the National Youth Service Corp to enlist corp members to educate people in rural areas on the benefits of digital services.
Atanda listed other activities of CBN for boosting financial inclusion to include development of a portal to standardise financial literacy and putting together a consumer protection framework.
Earlier, Dr Evans Woherem, Founder and Chairman, Digital Africa Global Consult Ltd. and Compumetrics Solutions, said that financial inclusion and fintech were apt.
According to him, financial inclusion is important because of the need to ensure that the generality of people, especially from ages 18, become users of financial institution.
“It is so unfortunate that these are financially excluded; there is the need to ensure that things are done to include them.
“Fintech is something that we also need to pay more attention to, as it is an exponential technology that will disrupt the banking system.
“”The banking system has come a long way – from the long queue banking to the realtime one, but this is not enough; we need to embrace fintech in the banking system,” he said.
He said there was the need for West Africans to catch up on technology adoption, adding that the conference provided an opportunity for experts to come up with decisions that would help the sector to move forward.

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NPA Assures On Staff Welfare 

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The Managing Director, Nigerian Ports Authority (NPA), Dr. Abubakar Dantsoho, has said the management will continue to accompany its port infrastructure  and equipment  modernization drive  with the development of the welfare of its personnel.
Dantsoho made the disclosure recently while responding to the commendation by the Maritime Workers Union (MWUN) and the senior Staff Association of Statutory Corporations and Government-Owned Companies (SSASGOC) on the  clearing  of the age-long problem of employee stagnation, when the union paid him a courtesy visit at the Authority’s headquarters in Lagos.
A Statement by NPA’s General Manager Corporate & Strategic Communications, Mr. Ikechukwu Onyemekara, quoted Dantsoho as saying,  “our Port infrastructure and equipment modernization drive will go hand-in-hand with continuous staff welfare improvement”.
The NPA MD disclosed that human capital development constitutes the key strategy for creating and sustaining superior performance under his watch, adding that “talent development constitutes a critical success factor for the actualization of the big hairy audacious goals we have set for ourselves especially in the area of Port competitiveness.
“The only way we can meet and indeed exceed stakeholders’ expectations is to deepen the competencies of our human resources assets and boosting their morale.”
Speaking further, Dantsoho commended the Honourable Minister of Marine & Blue Economy, Adegboyega Oyetola, for approving the strategic proposal of the Dantsoho-led Management team that solved the over a decade-long problem of lack of promotion that had fuelled industrial disharmony.
“I must specially appreciate our amiable Minister for graciously approving the multi-pronged stratagem we deployed that cleared all outstanding cases of employee stagnation by conducting examinations in one fell swoop and instituted timelines to forestall a recurrence of such anomaly”, he sad.
Speaking on behalf of the joint maritime labour unions, the President  of Senior Staff Association of Statutory Corporations & Government-Owned Companies (SSASCGOC), Comrade Bodunde stated, “In addition to clearance of the backlog of stagnated promotions, we also wish to express our appreciation for the increase in productivity bonuses, provision of end-of-year welfare packages for staff, and the revision of the Financial Guide to the Condition of Service, which now addresses our members’ concerns about inflationary pressures.”
Nkpemenyie Mcdominic, Lagos
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ANLCA Chieftain Emerges FELCBA’s VP

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National Secretary of the Association of Nigerian Licensed Customs Agents (ANLCA), Elder Olumide Fakanlu, has been elected Vice President of the Federation of ECOWAS Licensed Customs Brokers Association (FELCBA).
The election took place during the FELCBA Congress, held from Tuesday, June 17th to Thursday, June 19th, 2025, in Freetown, Sierra Leone.
Fakanlu’s emergence as Vice President marks a significant achievement for Nigeria within the regional customs brokerage community.
Apart from Fakanlu, Secretary of the Seme Chapter of ANLCA, Austin Nwosu, was also elected, securing the role of Secretary of Relations with Institutions.
The Nigerian delegation played an active role in the congress, with Michael Ebeatu nominated as a member of the electoral officer team, ensuring a fair and transparent election process.
The three-day congress concluded with delegates undertaking a visit to the Sierra Leone Port, offering insights into the host nation’s maritime operations, followed by a recreational trip to the Tokeh Beach.
The newly elected executives are expected to lead FELCBA in its efforts to harmonize customs brokerage practices, promote trade facilitation, and advocate for the interests of licensed customs brokers across the ECOWAS sub-region.
Nkpemenyie Mcdominic, Lagos
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NSC, Police Boost Partnership On Port Enforcement 

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In a bid to enhance more enforcement in the nation’s Port, the Nigerian Shippers’ Council (NSC) has reaffirmed its commitment to stronger inter-agency collaboration with the Nigeria Police Force (NPF).
The Council said the collaboration is aimed at enhancing stronger enforcement, compliance and improve operational efficiency across Nigeria’s ports.
Executive Secretary/Chief Executive Officer of  NSC, Dr. Pius Akutah, made this known during a visit to the  Inspector-General of Police, Dr. Kayode Adeolu Egbetokun, at the Force Headquarters, Abuja.
The visit, which he said, focused on strengthening institutional synergy, comes in the wake of growing responsibilities for the NSC under the newly created Ministry of Marine and Blue Economy.
Akutah emphasized the critical role of security agencies in supporting port operations and ensuring regulatory compliance.
He called for the posting of police officers to assist the Council’s monitoring and enforcement teams at key port locations including Lagos, Warri, Onne, Port Harcourt, and Calabar.
“The posting will complement the activities of our revived task teams and enhance our ability to enforce standards across the maritime logistics chain”, he said.
Earlier, the Inspector-General of Police, Dr. Egbetokun, assured the Council of the Force’s readiness to continue supporting the growth of the maritime sector.
The IGP acknowledged that compliance enforcement is essential to the successful implementation of Nigeria’s Blue Economy objectives.
“The NSC and NPF are expected to deepen collaboration in the months ahead, with a shared focus on building a secure, efficient, and competitive port environment”, to the IGP emphasized.
Chinedu Wosu
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