Key points
- Financial experts call for stronger supervision and adaptive regulation to address evolving global risks.
- Participants say artificial intelligence, cyber threats, climate risks and digital assets are reshaping financial regulation.
- CBN says capital adequacy alone is no longer enough to guarantee financial stability.
- Stakeholders advocate closer collaboration among regulators, policymakers and risk professionals.
Main story
Financial regulators, risk professionals and economic experts have called for stronger supervision and more flexible regulatory frameworks to help financial systems respond to rapidly evolving global risks.
The recommendations emerged at the 2026 Global Financial Regulation Week and Basel Accord Day Conference, where participants examined whether existing financial regulations remain fit for purpose amid technological change, digital finance and growing geopolitical uncertainty.
Discussions centred on issues ranging from operational resilience and governance to cyber security, artificial intelligence and enterprise risk management, with speakers arguing that financial regulation must evolve alongside emerging threats.
Chairman of the Nigerian Exchange Group (NGX), Umaru Kwairanga, said regulators now face the challenge of encouraging innovation without undermining financial stability. He identified artificial intelligence, climate-related risks, cyber threats and digital assets as areas requiring closer regulatory attention and stronger governance.
The Central Bank of Nigeria (CBN) also argued that financial resilience extends beyond maintaining adequate capital. Deputy Director Temidayo Fasipe said recent banking failures around the world have shown that liquidity pressures and confidence shocks can destabilise financial institutions even when capital requirements are met.
He maintained that stronger supervision, effective governance and a robust risk culture are becoming increasingly important as digital assets and other emerging technologies reshape the financial landscape.
Participants also highlighted the growing influence of virtual assets and the need for international regulatory standards that can effectively address the associated credit, liquidity, operational and market risks.
The conference concluded with calls for greater cooperation among regulators, policymakers, tax professionals and enterprise risk experts to strengthen the resilience of financial systems and support sustainable economic growth.
The issues
Financial regulators worldwide are adapting to new risks created by technological innovation, digital finance, cybercrime and climate change. Experts say existing capital regulations alone are no longer sufficient, making stronger supervision, coordinated regulation and institutional resilience increasingly important.
What’s being said
“Recapitalisation is only one element of financial resilience. Strong supervision, sound governance and a robust risk culture are equally important.” — Temidayo Fasipe, Deputy Director, Central Bank of Nigeria
What’s next
Regulators and financial institutions are expected to continue reviewing supervisory frameworks and strengthen collaboration to address emerging risks while maintaining financial stability and supporting innovation.
Bottom line
As technology and global risks reshape the financial sector, experts say resilient financial systems will depend on stronger oversight, adaptive regulation and closer cooperation across the regulatory ecosystem.
