Wigwe, others emphasise need for inclusive growth, technological innovation in banking industry -

Coiled from The Sun News, The Group Managing Director/CEO, Access Bank Plc, Herbert Wigwe, has challenged bankers to focus on the future of banking by embracing millennials for innovative growth.

He stated the above in his opening remarks at the 14th annual Banking and Finance Conference organised by the Chartered Institute of Bankers of Nigeria (CIBN) with theme “Economic Recovery, Inclusion and Transformation: The Role of Banking and Finance”.

According to Wigwe, at the conference which centred on the need to reposition the banking and finance industry as a driver for economic recovery, inclusive growth, and development, there is need to embrace millennials and Gen Z’s in the banking industry and supporting financial inclusion as a pathway to advancing the banking sector and securing economic growth.

The 2-day conference, which held virtually and simultaneously in Abuja and Lagos featured an array of dignitaries, including Muhammadu Buhari, President of the Federal Republic of Nigeria, Paul Kagame, the President of the Republic of Rwanda, Professor Yemi Osinbajo, Vice President of the Federal Republic of Nigeria; His Excellency, Mr Babajide Sanwo-Olu, Executive Governor of Lagos State; Mrs Zainab Ahmed, Honourable Minister of Finance, Federal Republic of Nigeria amongst others.

Speaking on the need for financial inclusion President Buhari stated that technological innovation was crucial in today’s business world, adding that with to the Internet of Things (IoT), the majority of transactions now take place online”.

Kagame on his own part, urged the banking sector to integrate technology further to stay competitive and increase financial access and inclusion, adding that “banking can’t just be a service for elites.”

Further demonstrating that the banking industry is ready to implement such strategies, CBN Governor, Godwin Emefiele announced at the conference that the Nigerian International Financial Centre (NIFC) would be established, which will serve as an international gateway for capital and investments driven by technology and payment system infrastructure.

Over 10,000 people from various sectors of the economy with global representations were reported to have participated in the conference to discuss in depth the best strategies to move the economy ahead.