Nigeria's Banking System More Robust Than Europe's

Senator Shuaib Afolabi Salisu, chairman of the Senate Committee on ICT and Cybersecurity, declared that Nigeria's banking technology infrastructure is more robust than that of Europe and America. Speaking at a technology training program for youth in Abeokuta, Ogun State, Salisu highlighted Nigeria's advancements in digital banking and fintech innovations.

He noted that Nigeria has made significant progress in digitizing its financial system, referencing that seven out of ten fintech companies in Africa are Nigerian. Salisu, a former banker with experience in four banks, pointed to the success of Nigerian digital payment platforms as evidence of the country becoming a major technology hub.

He also discussed a proposed e-governance bill currently in the National Assembly, which aims to modernize governance in Nigeria by providing a regulatory environment for electronic transactions and ensuring government agencies digitize their operations.