Strengthening Nigeria’s Financial Ecosystem: Senate Committee Hosts Workshop with Kuda’s Support
Nigeria’s financial sector is facing a significant challenge, with over ₦3.4 trillion in financial infractions uncovered across federal Ministries, Departments, and Agencies (MDAs) in 2021. This staggering figure highlights the need for stronger oversight and compliance measures.
In response, the Senate Committee on Legislative Compliance is hosting a high-level workshop to address weak oversight and institutional gaps. The two-day event, themed ‘Consolidating Strategies for Strengthening Legislative Compliance by MDAs’, will bring together lawmakers, regulators, and representatives from federal MDAs to discuss compliance gaps, transparency, and cross-sector collaboration.
Kuda Microfinance Bank is co-sponsoring the workshop, demonstrating its commitment to responsible innovation and regulatory alignment. Rasaq Kadri, Kuda’s Head of Compliance, will deliver a keynote address, highlighting fintechs’ efforts to promote inclusion and financial literacy while maintaining compliance best practices.
“We can’t build trust-driven products in a trust-deficient environment,” Kadri said. “Fintechs have the tools and perspective to support better governance, but more importantly, we have a responsibility to be part of the solution.”
The workshop aims to close compliance gaps, strengthen institutional transparency, and promote cross-sector collaboration. With this collaborative effort, the event is poised to drive meaningful change in Nigeria’s financial ecosystem. #Strengthening Nigeria’s Financial Ecosystem: Senate Committee Hosts Workshop with Kuda’s Support#
