First City Monument Bank (FCMB) has emphasized the need for stronger collaboration among financial institutions, technology companies, regulators, and infrastructure providers to drive Nigeria's digital growth. The Chief Technology Officer of FCMB, Blessing Ehize, made this call at the GrowthX by Techeconomy 2026 conference in Lagos. The conference brought together industry leaders to discuss opportunities and challenges in Nigeria's digital future.
The GrowthX conference, themed "Driving Digital Growth Through Innovation and Collaboration," featured discussions on data localisation, digital payments, artificial intelligence, cybersecurity, and digital infrastructure. The event provided a platform for stakeholders to share perspectives on how technology can support sustainable and inclusive economic growth. Ehize highlighted the importance of viewing data localisation as an opportunity to strengthen Nigeria's digital infrastructure and cybersecurity.
Ehize stressed that data localisation presents both an opportunity and a responsibility for Nigeria's digital ecosystem. He emphasized the need to build infrastructure, resilience, cybersecurity capabilities, and talent to support secure and reliable digital services. This requires collaboration across banks, fintechs, technology providers, regulators, and infrastructure players. Effective collaboration can strengthen digital trust and create a stronger foundation for Nigeria's digital economy.
The panel discussion examined the implications of the Central Bank of Nigeria's data localisation directive for banks, fintechs, and payment service providers. The directive's potential impact on data sovereignty, digital identity, cybersecurity, consumer protection, infrastructure investment, and operational costs was also discussed. The conversations at GrowthX aimed to move beyond broad technology discussions and focus on practical issues affecting digital service development in Nigeria.
The Founder and Editor-in-Chief of Techeconomy, Peter Oluka, said GrowthX was created to facilitate meaningful conversations and collaboration among stakeholders shaping Africa's digital future. The platform aims to bring together industry leaders and experts to exchange perspectives and drive digital growth. FCMB's participation in GrowthX reinforces the bank's commitment to supporting technology and innovation conversations.
FCMB's involvement in GrowthX demonstrates the bank's dedication to contributing industry perspectives to the development of a more secure, inclusive, and resilient digital economy. The bank's participation also highlights its commitment to driving digital transformation and innovation in the financial services sector. By collaborating with stakeholders, FCMB aims to support the growth of Nigeria's digital economy.
The collaboration among financial institutions, technology companies, regulators, and infrastructure providers is crucial for Nigeria's digital growth. By working together, stakeholders can address the challenges and opportunities in the digital ecosystem. This collaboration can lead to the development of a more robust and resilient digital economy, ultimately driving sustainable and inclusive economic growth in Nigeria.
Key points
- FCMB calls for collaboration to drive Nigeria's digital growth.
- Data localisation presents an opportunity to strengthen Nigeria's digital infrastructure and cybersecurity.
- Collaboration is crucial for the development of a more secure, inclusive, and resilient digital economy.
