Vice President Kashim Shettima has reiterated President Bola Tinubu’s commitment to building efficient and inclusive financial systems in Nigeria.
By Taiye Olayemi
Vice President Kashim Shettima has reiterated President Bola Tinubu’s commitment to building efficient and inclusive financial systems in Nigeria.
Speaking at the opening of the 2025 Africa and Middle East Depositories Association Conference (AMEDA), held in Lagos, Shettima emphasised the administration’s dedication to creating a financial ecosystem that guarantees economic growth, poverty reduction, and fosters financial inclusion.
The two-day conference, organised by the Central Securities Clearing System Plc (CSCS), has its theme as “Shaping the Future: Financial Markets and Infrastructures as Catalysts for Transforming Economies”.
Shettima, who spoke virtually, said, “Our administration is committed to strengthening Nigeria’s financial market infrastructure through a deliberate blend of regulatory reform, capital market development strategies and robust public-private collaboration.
“This includes broadening participation in our capital markets to deepen access to finance for our MSMEs and startups, and financing infrastructure through green bonds, social bonds and more.
“Our agenda is anchored on inclusive finance principles and designed to deliver tangible public value.
“We are also harnessing innovation across sectors, from fintechs and mobile platforms to payment service providers, to make our financial system more efficient, accessible and inclusive.
“For innovation to be meaningful, it must be responsible, secure, and equitable. In President Bola Tinubu, we have not only found an ally in market reforms, but also a steward of economic stability.”
Shettima urged participants at the conference to leverage the AMEDA platform to jointly build efficient, inclusive financial systems across Africa.
He said individuals must move beyond domestic thinking and embrace a shared regional vision to fully shape the future of finance.
He explained that the African Continental Free Trade Area marks a defining moment with the potential to unite 54 countries into a single market of over 1.4 billion people.
According to him, the momentum to harmonise capital markets and expand cross-border investment is gaining traction.
“In Nigeria, we have introduced a regulatory framework for digital assets and enhanced legal instruments to support capital market development.
“These efforts are not isolated.
In Nigeria, we are on an ambitious journey to grow our economy to one trillion dollars within the next decade.
“Achieving this vision requires not only sound policies, but also enduring partnerships and the insights of brilliant minds like yours gathered here today.
“Let this gathering inspire us to build financial systems that are efficient, inclusive, and transparent.
“Systems that reward innovation, integrity and courage, and that empower the young, the entrepreneurs and the underserved,” he said.
The vice president emphasised the need to re-imagine and reposition financial systems as engines of inclusive, resilient and sustainable growth.
He said, “Across Africa and the Middle East, we are witnessing technological shifts in how we engage with one another and the wider world.
“These shifts, driven by innovation, favourable demographics, digital disruption and economic realignments, compel us to rethink the very architecture of our financial ecosystems and economic management models.
“At the heart of this transformation lies the indispensable role of financial market infrastructures, depositories, clearing houses, payment systems and digital platforms that sustain trust, enable transparency and provide the liquidity our markets require.”
Welcoming the delegates, Mr Abdulla Abdin, Chairman of AMEDA, said the conference would provide a valuable platform to explore changes in technological advancements.
Abdin noted that the platform would also be useful in sharing knowledge and forging collaborations on strategies that would define the next era of the capital market industry.
He said there was room for improvement, even with Africa and the Middle East regions’ rapidly evolving markets, cutting-edge technological advancements, and the spirit of entrepreneurship, shaping the future of global finance.
“This is set to be a milestone gathering uniting visionary leaders, policymakers, and experts from Africa, the Middle East, and beyond to engage in insightful discussions on the transformation of financial and securities markets in our regions.
“As Africa and the Middle East emerge as key players in the global financial landscape, it is essential that we leverage our collective strengths to drive economic growth, foster innovation, and expand financial inclusion,” he said. (NAN) (www.nannews.ng)