Reported by Ariajegbe Sylvia Esezobor
Nigeria’s leading financial institutions have pledged stronger support for capacity building in financial journalism, saying the sweeping reforms reshaping the banking, tax, capital market and fintech sectors demand a press corps capable of interrogating policy and explaining its consequences to ordinary Nigerians.
The commitment was made in Lagos ahead of the 36th Anniversary Annual Conference of the Finance Correspondents Association of Nigeria, scheduled for September 19 and 20, 2026, at Orchid Hotels, Dreamworld Africana Way, Lekki. The institutions that rallied behind the initiative include the Nigeria Deposit Insurance Corporation, the Nigeria Sovereign Investment Authority, the Asset Management Corporation of Nigeria, United Bank for Africa, ProvidusUnity Bank, Fidelity Bank, Stanbic IBTC, Union Bank, Zenith Bank, Ecobank, First City Monument Bank, Coronation Group, Development Bank of Nigeria, the Nigerian Communications Commission and the Nigerian Interbank Settlement System. Tatum Bank, GTCO, Strategic Effects Limited, PenCom, Moniepoint and Dangote Group are also involved.
The initiative comes as Nigeria enters a new phase of financial-sector reforms following the banking recapitalisation exercise, the implementation of major tax reforms and the rapid expansion of digital financial services. Stakeholders said the growing complexity of economic policies makes specialised financial journalism more important than ever, particularly where regulatory changes have direct consequences for businesses, investors and households. They stressed that effective reporting must go beyond announcing policy decisions to explaining their economic consequences, identifying implementation challenges and providing the public with sufficient information to make informed financial decisions.
The reforms have also significantly expanded the responsibilities of financial institutions in areas including tax administration, foreign-exchange monitoring, financial transparency and electronic payments. These developments, stakeholders argued, reinforce the need for journalists capable of interrogating financial policies and accurately explaining their implications. The capacity-building support from the institutions is expected to complement FICAN’s efforts to strengthen financial journalism as a tool for transparency and public accountability.
The FICAN conference, themed “Building on the Gains of Recapitalisation, Tax Reform and Fintech Revolution,” will bring together policymakers, regulators, banking executives, fintech innovators, economists and capital-market operators. The Deputy Governor for Corporate Services at the Central Bank of Nigeria, Dr Muhammad Sani Abdullahi, will deliver the keynote address, while the Group Managing Director and Chief Executive Officer of United Bank for Africa, Dr Oliver Alawuba, will serve as guest speaker. Panel discussions will feature representatives of the Nigerian Inter-Bank Settlement System, OPay Digital Services Limited, ProvidusUnity Bank, Coronation Group, the Office of the Tax Ombud and the Small and Medium Enterprises Development Agency of Nigeria.
FICAN Chairman Chima Titus Nwokoji described the conference as a strategic platform for reviewing ongoing reforms and identifying practical steps to sustain growth. “This year’s conference comes at a defining moment for Nigeria’s economy. Banking recapitalisation, tax reforms and the rapid expansion of financial technology are reshaping the financial services landscape,” he said. He noted that the association, which brings together about 150 journalists and editors covering the financial industry across print, electronic and online platforms, has for 36 years promoted responsible financial journalism and informed public discourse on economic policy. The objective, he added, is to bring policymakers, regulators and industry leaders together to assess the gains recorded so far and develop practical recommendations that would deepen financial stability, promote inclusive growth and enhance investor confidence.
The renewed focus on financial journalism is not happening in isolation. Across Nigeria, a range of initiatives has emerged in 2026 to strengthen the capacity of journalists covering finance and the economy. In September, the Africa Network for Environment and Economic Justice trained journalists on tracking illicit financial flows under the SecFin Africa programme supported by the European Union. In April, DataPro trained more than 80 media professionals on the application of artificial intelligence in financial reporting. The Nigerian Financial Intelligence Unit has also urged journalists to strengthen investigative reporting against financial crimes. These programmes reflect a growing recognition that the complexity of Nigeria’s financial landscape has outpaced the capacity of many newsrooms to cover it adequately.
The NDIC’s involvement in capacity building for financial journalists is longstanding. The corporation launched its capacity-building workshop for finance correspondents and business editors in 2002 and has sustained annual engagements through the NDIC Editors’ Forum and FICAN workshops. The corporation has described its commitment to media capacity building as a contribution to financial system stability, noting that accurate and factual coverage of the banking sector is essential to maintaining public confidence in the deposit insurance system and the wider financial sector.
For Nigeria’s financial journalists, the support pledged by these institutions represents both an opportunity and a test. The opportunity lies in specialised training, improved access to financial data and professional mentorship that can deepen coverage of banking, taxation, public finance, investments, capital markets and fintech. The test lies in whether that support translates into reporting that holds institutions accountable rather than merely amplifying their announcements. As FICAN’s leadership has emphasised, stronger institutions, increased investment, greater financial inclusion and sustainable economic growth will depend not only on the quality of policies adopted but also on effective implementation, public understanding and continuous scrutiny. The conference is expected to produce a communiqué with concrete recommendations for government, regulators and industry operators on sustaining reforms, attracting investment, accelerating financial inclusion and strengthening the financial sector. Whether those recommendations are acted upon will be the measure of whether this latest round of support for financial journalism delivers more than goodwill.
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