The Future of Finance: Lotus Bank and DBN Support Innovation at FICAN Conference

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L-R: Idris Salihu ,Head of Corporate Services Development Bank of Nigeria (DBN), Chima Titus Nwokoji, National Chairman, Finance Correspondents Association of Nigeria ( FICAN), Olukayode Olubiyi Head, Digital Banking, United Bank for Africa, Bashir A. Nuhu, Director, Communication & Public Affairs Nigeria Deposit Insurance Corporation (NDIC), Bola Enigbokan Divisional Head Enterprise Support, Nigeria Interbank Settlement System (NIBSS) and Group Head, Media and External Relations UBA, Nasir Rahman, at the 2023 annual conference of FICAN held in Lagos over the weekend.
In a joint effort, Lotus Bank Limited and the Development Bank of Nigeria (DBN) have reaffirmed their dedication to bolstering the resilience of payment infrastructure in Nigeria. This commitment was prominently showcased at the 2023 annual conference of the Finance Correspondent Association of Nigeria (FICAN) in Lagos, centered around the theme ‘Strengthening Digital Infrastructure for an Efficient and Innovative Payment System in Nigeria.
‘Lotus Bank emphasized its continuous efforts to provide customer-centric solutions to facilitate seamless payments, while DBN stressed the pivotal role of an efficient payment system in the country’s growth and development.
Idris Salihu, Head of Corporate Services at DBN, highlighted the bank’s support for Micro, Small, and Medium Enterprises (MSMEs) across Nigeria, leveraging both digital and physical infrastructure through the DBN Learning Management System (LMS).
He emphasized that DBN’s support extended to all regions, with a focus on areas with a high concentration of commercial activities.Lotus Bank’s management expressed its willingness to collaborate with key stakeholders in the banking sector to further enhance effective and innovative payment system solutions.
They introduced their paperless branches, emphasizing their commitment to digital innovation for value creation and environmental sustainability.

Mr. Olukayode Olubiyi, Head of Digital Banking at the United Bank for Africa, emphasized the necessity of collaboration among various stakeholders, including financial institutions, fintech companies, government entities, and regulatory bodies, to ensure the success of innovative solutions.

Additionally, Prof. Umar Danbatta, Executive Vice Chairman of the Nigeria Communication Commission (NCC), stressed the importance of collaboration, investment, and adaptability in achieving a robust and inclusive digital payment ecosystem.
He called for closer cooperation between the NCC and financial regulators, such as the Central Bank of Nigeria (CBN), to effectively coordinate policies and regulations related to digital payments and telecommunications. This collaboration aims to benefit citizens and drive economic growth in Nigeria, he added.

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