‘Africa’s insurance penetration below 3 per cent’

She asserts that for Nigeria to achieve its macro-economic targets, the insurance industry must bridge the massive “protection gap,” as penetration currently remains below 3% across many African markets.

“Insurance is the net that allows a nation to jump higher,” Adebisi stated.

She emphasizes that every decimal point in a financial model represents a business stabilized and a future secured, providing the essential foundation for macro-economic growth.

She said the project posits that Nigeria is not lacking capital but “invisible infrastructure”, specifically Trust, Access, and Regulatory Clarity.

Adebisi describes NIIRA 2025 as a vital structural reinforcement rather than regulatory friction. The Act’s focus on Capital Recalibration, Stronger Governance, and Consumer Protection is essential for building the institutional rigour required to support a $1 trillion GDP.

The reform represents a necessary recalibration of the industry’s foundations while accelerating digital transformation.

“Those who view compliance as a burden will struggle; those who see it as a competitive advantage will thrive,” Adebisi noted, identifying policy fluency as a core leadership competency for the next decade.

According to her, a central pillar of the project is “Engineering Inclusive Ecosystems,” exemplified by the FileAm App.

 “This initiative reimagines tax compliance as a digital utility for SMEs and informal entrepreneurs, moving them from economic invisibility into formal digital tax rails, insurance coverage, and credit ecosystems. By building digital identity and verifiable credentials, the project aims to turn compliance into credit history, and credit history into the capital access required for intergenerational wealth creation,” she said.

 “The future of finance in Africa will not be inherited. It will be architected,” Adebisi concluded. “It is our turn to build,” she added.

Policy makers discuss Implications of banking sector recap at Agusto & Co. dialogue

Agusto & Co., a leading Pan-African credit rating agency and provider of economic research, convened its 2026 Economic Roundtable, bringing together senior banking executives, regulators, investors, and policy thinkers to reflect, engage in meaningful dialogue, and exchange ideas in pursuit of sustainable economic progress.

Themed “Nigeria’s Banking Recapitalisation: What Does It Mean for the Nigerian Economy?”, the roundtable convened policymakers, financial leaders, and industry stakeholders to critically examine the implications of the ongoing recapitalisation exercise. Beyond the quantum of capital being raised, discussions focused on what this new phase means for financial system resilience, credit quality, investor confidence, and sustainable economic growth.

Speaking at the event, Mrs. Yinka Adelekan, Managing Director, Agusto & Co. Limited, emphasised the need for informed dialogue at a time of significant structural change within the financial system.

 “This Roundtable comes at a defining moment for Nigeria’s banking sector. As recapitalisation unfolds, it is crucial that we create space for informed dialogue on what it truly means for economic stability and growth. By convening this forum, we also honour our founder’s legacy, ensuring that recapitalisation strengthens not just bank balance sheets, but the future of Nigeria’s financial system” Adelekan noted.

Delivering the keynote address, Mr. Matthew Verghis, Country Director, World Bank in Nigeria, underscored the importance of positioning recapitalisation as a tool for economic transformation as well as the strategic opportunities that lies ahead.

 “A stronger banking system creates the foundation to finance Nigeria’s long-term ambitions — from empowering MSMEs and expanding productive capacity to unlocking large-scale infrastructure development. The opportunity before us is clear: to convert stronger balance sheets into deeper intermediation, greater resilience, and inclusive growth that accelerates Nigeria’s journey toward a more competitive and sustainable economy.”

A high-level panel discussion further examined the practical implications of recapitalisation for banks, corporates, and the wider economy. Panelists included Mr. Roosevelt Ogbonna, Managing Director, Access Bank Plc; Mr. Deepak Bhojak, Group Treasurer, Africa Consumer Business, Tolaram; Mr. Matthew Verghis, Country Director, World Bank in Nigeria; Mr. Johnson Chukwu, Managing Director, Cowry Asset Management; and Mr. Isaac Babatunde, Executive Director, Agusto & Co. The panel shared perspectives on capital adequacy, risk management, credit allocation, and the role of the banking sector in supporting sustainable economic growth.

Jimi Ogbobine, Head, Agusto Consulting (a wholly owned subsidiary of Agusto & Co), also presented a brief macro-economic overview, offering an in-depth analysis of the key economic themes and key uncertainties shaping the nation’s economic trajectory in 2026

The roundtable concluded with an interactive engagement session, fostering dialogue and collaboration among stakeholders committed to strengthening Nigeria’s financial system and economic prospects.

Agusto & Co. reaffirmed its commitment to delivering objective research and thought leadership that supports businesses, investors, and policymakers as Nigeria’s financial landscape continues to evolve.