Decoding the Future of Financial Inclusion: A Critical Look at CeBIH’s 2025 Conference

The Committee of e-Business Industry Heads (CeBIH) is gearing up for its 2025 conference, promising a “national agenda” focused on reshaping financial inclusion through consumer credit. It’s a bold ambition, and one that deserves a closer look. The claim that the conference will spark a “cultural transformation” in how Nigeria views and uses credit raises some interesting questions.

CeBIH Chairman, Mr. Ajibade Laolu-Adewale, eloquently frames the goal: shifting the national mindset from fearing credit as a “debt trap” to embracing it as a “strategic tool.” This is a vital point. For too long, credit has been perceived negatively, especially amongst those who need it most. He highlights the need for industry-wide changes, advocating for responsible lending built on trust and transparency. Integrating alternative data to assess risk and reaching previously “invisible” Nigerians is a laudable objective. Still, turning aspiration into reality demands more than just good intentions.

The conference, themed “Reimagining Financial Inclusion through Cultural Shifts in Consumer Credit,” aims to unite bankers, fintechs, regulators, and policymakers to forge a practical roadmap. Mrs. Abidemi Asunmo, CeBIH Vice Chairman, assures us it’s not just “another talk shop.” High-profile speakers, including government officials and industry leaders, are slated to attend. Sessions will probe key areas like alternative data for credit scoring and financial literacy. We’ve heard similar promises before, of course. The success hinges on actionable outcomes. Let’s see if this gathering truly produces tangible change.

The involvement of advisory council members like Wunmi Ogunbiyi and Tunde Kuponiyi adds another layer. Ogunbiyi emphasizes the need for stronger collaboration and addresses the core challenges of mistrust and weak financial infrastructure. She hits on a critical point: the poor repayment rates on past government schemes reveal deeper systemic issues. She stresses that credit goes beyond just borrowing. Data integrity, comprehensive credit scoring, and unified stakeholder alignment are fundamental to ensure progress.

Kuponiyi aptly notes the banking sector’s rapid transformation into a technology-driven industry. He emphasizes the central role of digitization in scaling financial services and emphasizes the critical relationship between financial inclusion and broader economic growth. This is crucial for tax efficiency and SME expansion. Cultural shifts encouraging responsible credit use, paired with effective technology for analysis and repayment, form the core of his argument. It’s worth asking if a conference can truly affect the kind of deep-seated cultural transformation being discussed. Cultural change is slow. It often unfolds over generations. Can these discussions and blueprints truly cascade down and change individual attitudes and behaviors?

Financial inclusion, as a topic, is rife with complexities. Simply providing access to credit isn’t enough. People need the financial literacy to manage debt responsibly, and businesses require the stability to repay loans. It is also not enough to simply lower the access barriers to financial credit. The providers of the credit need to ensure that the services are culturally sensitive to the local context.

Alternative data is one area that deserves close scrutiny. While it promises to unlock access for those with limited traditional credit history, the use of non-traditional data points raises questions about fairness and potential bias. How do we ensure that these algorithms don’t perpetuate existing inequalities?

The reliance on technology, while essential, presents another challenge. Digital infrastructure isn’t universally accessible in Nigeria, and digital literacy rates vary widely. Bridging this digital divide is paramount. The risk is that without it, the financially excluded population will be even more marginalized.

Having witnessed similar initiatives in the past, I approach this conference with cautious optimism. The stated goals are worthwhile. Yet, the real test lies in the implementation and the long-term impact. Will the conference deliver more than just another set of recommendations gathering dust on a shelf? Time will tell. The key is whether this summit truly sparks genuine action and lasting change on the ground. Sustained effort and transparent accountability are critical, far beyond the conference’s closing remarks.

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Keywords: Financial inclusion, Consumer credit, CeBIH conference, Nigeria, Alternative data, Financial literacy, Digital inclusion, Credit scoring