Nigeria's Central Bank Governor, Yemi Cardoso, raises concerns over rising non-bank financial transactions' risks to financial stability.

Nigeria's Central Bank Governor, Yemi Cardoso, has expressed concerns over the rising volume of non-bank financial transactions, stating they pose significant risks to financial stability in the country. Cardoso emphasized the importance of monitoring trends, risks, and innovations of non-bank financial institutions (NBFIs) and other financial institutions (OFIs), as increasing transaction volumes can potentially disrupt financial system stability. These entities, often fintech firms, offer applications, software, and other technologies to streamline mobile and online banking.

July 01, 2024
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