NDIC, NSIA, AMCON, Others Support Capacity Building in Financial Journalism

The Nigeria Deposit Insurance Corporation (NDIC), Nigeria Sovereign Investment Authority (NSIA), Asset Management Corporation of Nigeria (AMCON) and leading commercial banks including United Bank for Africa (UBA) and ProvidusUnity Bank have pledged stronger support for capacity building in financial journalism amid sweeping reforms reshaping Nigeria’s banking, tax, capital market and financial technology sectors.

These institutions believe that strengthening journalists’ ability to interpret and report complex economic policies is critical to improving public understanding, transparency, investor confidence and accountability across the financial system.

The commitment was made in Lagos as other stakeholders rallied behind initiatives aimed at equipping financial journalists with specialised knowledge, better access to data and professional mentorship to enhance coverage of banking, public finance, investments, taxation and financial technology.

Other participating banks and institutions include Fidelity Bank, Stanbic IBTC, Union Bank, Zenith Bank, Ecobank, First City Monument Bank (FCMB), Coronation Group, Development Bank of Nigeria (DBN), the Nigerian Communications Commission (NCC) and the Nigerian Interbank Settlement System (NIBSS). Equally involved are Tatum Bank, GTCO, Strategic Effects Limited, PenCom, Moniepoint and Dangote Group.

The development comes as Nigeria enters a new phase of financial-sector reforms following the banking recapitalisation exercise, the implementation of major tax reforms and the rapid expansion of fintech and digital financial services. Stakeholders note that the growing complexity of economic policies makes specialised financial journalism more important than ever, particularly where regulatory changes have direct consequences for businesses, investors and households.

There is broad consensus that effective reporting must go beyond merely announcing policy decisions. It should explain their economic consequences, identify implementation challenges and provide the public with sufficient information to make informed financial decisions. The reforms currently reshaping the financial sector have significantly expanded the responsibilities of banks, especially in tax administration, foreign-exchange monitoring, financial transparency and electronic payments.