Oliver Alawuba Outlines Economic Resilience Blueprint for Nigeria

Group Managing Director of United Bank for Africa Oliver Alawuba presented a blueprint for economic resilience during the 19th Annual Banking and Finance Conference of the Chartered Institute of Bankers of Nigeria in Abuja on September 8, 2026. Alawuba advocated for public-private collaboration and deliberate policies to ensure stability leads to inclusive prosperity, stating that a resilient economy must be able to absorb shocks without transferring the full cost to vulnerable citizens.

Alawuba reported that 33 banks mobilized 4.65 trillion naira during a recent recapitalization exercise to improve capital adequacy. He also noted a 43.2 percent year-on-year increase in technology investments by four leading banks in early 2026.

President Bola Ahmed Tinubu, represented by Minister Taiwo Oyedele, urged the banking sector to move beyond balance-sheet profitability and instead finance productive businesses to drive job creation. This sentiment was echoed by Central Bank of Nigeria Governor Olayemi Cardoso and World Bank Country Director Mathew Verghis, both of whom emphasized the necessity of redirecting capital toward enterprises capable of sustaining economic recovery and creating employment.