RegTech

CBN to Deepen its Digital Transformation Culture

PSB
Governor of Central Bank of Nigeria (CBN), Mr. Godwin Emefiele

The Central Bank of Nigeria (CBN) in its strategic role as a regulator and key stakeholder within the Nigerian economy seeks to deepen its Digital Transformation culture in response to the ever-changing market conditions.

The financial services industry has witnessed several evolutions within the last two decades and will be subject to many more changes in the next few years.

The CBN has recognised the need to adopt an internal culture and operations to meet present-day reality.

This and more were the focus of the just-concluded Digital Transformation Session that took place on August 28, 2019 at the NAF Conference Center, Abuja.

The central bank is consulting with Reliance InfoSystems Ltd., Microsoft’s Tier1 Partner in West Africa, to drive technology adoption internally and intensify its internal DT culture.

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The goal of this culture change is hinged on the four pillars of Digital Transformation which is to empower employees of the CBN to reimagine work and productivity, which in turn will identify transformation opportunities that would support CBN’s corporate objectives.

Paul Ojeikere, the deputy director of CBN Enterprise Division (IT Architecture & Strategy Division), while speaking at the DT session, highlighted the need for enhancing productivity and collaboration; improving the way employees communicate, collaborating on projects, and developing ideas.

Other CBN participants spoke on the much-needed culture change that would encourage ease of technological adoption.