OPINION BY ETIM ETIM: Fintechs, financial inclusion and regulatory challenges | TheCable
unexpected regulatory and legal challenges. The fusion of traditional banking with fintechs offers many growth opportunities for the sector and enhances financial inclusion in a scale unimagined a generation ago. Even as a retired banker, I am amazed to see traditional banking being gradually replaced by digital platforms, with electronic payments, mobile banking and online transactions gaining prominence.
Other institutions are placing equally high emphasis on digital banking and technology as growth drivers. While traditional banking methods are still relevant, they have been significantly influenced by the rise of digital products and services. Mobile banking apps, online payment systems and contactless transactions have become the new normal, transforming our interactions with financial institutions.
As the CJN noted, the emergence of PSBs ‘’necessitates a delicate balance between fostering innovation and ensuring consumer protection. Judicial officers must strike this balance by interpreting and applying the law to encourage financial inclusion while safeguarding consumer interests,” said the Chief Justice of Nigeria, Justice Olukayode Ariwoola at a workshop organized by the CBN.
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Newspaper Headlines: FG considers minimum wage review as labour threatens strike on Wednesday | TheCableThe issue of petrol subsidy removal is moving the country in an intense direction as the national dailies succinctly report alongside other biting matters in the national and sub-national politics of the country.
Read more »
EFCC lacks constitutional powers to probe Zamfara accounts, says court | TheCableA federal high court sitting in Gusau, Zamfara, says the EFCC does not have the powers to invite serving and past officials of the state government.
Read more »
NPC: We'll safeguard available resources until new date for 2023 census is fixed | TheCableThe National Population Commission (NPC) says it will safeguard its resources until a new date for the 2023 population and housing census is fixed. In April, former president Muhammadu Buhari
Read more »
‘I went on my own to address allegations’ — Pauline Tallen speaks on EFCC quizzing | TheCablePauline Tallen, former minister of women affairs, has opened up on her interrogation by the Economic and Financial Crimes Commission (EFCC) over alleged corrupt enrichment. On Friday, TheCable reported that
Read more »
‘Strategic in thinking’ — Abbas lauds Tinubu for appointing Gbajabiamila as CoS | TheCableTajudeen Abbas, a member of the house of representatives, has commended President Bola Tinubu for appointing Femi Gbajabiamila as chief of staff. Gbajabiamila was appointed to the position on Friday
Read more »
FACT CHECK: Yes, CO2 warms the planet and influences climate change | TheCableA viral claim on social media says carbon dioxide is not responsible for global warming. Patrick Moore, co-founder of Greenpeace, an independent global campaign network, made the claim in a
Read more »