Expert Calls for Stronger Financial Resilience, Data-Driven Governance Among SMEs

Mary Nnah

Financial Compliance Expert, Oluwabukola Tiamiyu, has urged small and medium-sized enterprises (SMEs), as well as emerging financial institutions, to strengthen their operational and financial resilience through structured, data-driven decision systems particularly by adopting modern financial-governance tools.

Speaking at a business and technology symposium, Tiamiyu emphasized that the rising complexity of today’s business environment – marked by market volatility, shifting customer behavior, and digital reliance has exposed organizations to unprecedented financial vulnerabilities. According to her, the ability to gain clarity, interpret financial signals early, and mitigate operational risks is now fundamental to business survival and sustainable growth.

“Financial data is no longer just a reporting requirement, it is the lifeline of organizational clarity, competitiveness, and long-term stability,” Tiamiyu said. “But without structured frameworks, disciplined analysis, and strategic oversight, even digitally enabled businesses can quickly drift into financial uncertainty.”

Tiamiyu, who has led multiple financial-transformation and performance-optimization projects across Africa and Europe, noted that many SMEs continue to experience financial leakages, misaligned budgets, and avoidable losses because they lack standardized systems for monitoring financial health. She added that business leaders often underestimate the risks associated with unstructured accounting practices, outdated reporting systems, and the absence of predictive financial tools.

“Financial threats don’t discriminate by size,” she warned. “Whether it’s a startup managing cashflow or a growing institution handling multi-million-naira transactions, the absence of strong financial-governance frameworks can lead to capital erosion, debt accumulation, and loss of investor confidence.”
Tiamiyu recommended that organizations prioritize structured financial management, beginning with robust financial-risk assessments, cashflow monitoring, performance dashboards, and the adoption of technology-enabled governance models. She emphasized that many financial setbacks occur because simple controls such as review mechanisms, oversight processes, or forecasting updates are overlooked.
Beyond mitigating risk, she highlighted the broader significance of financial analytics in enhancing resilience. Tiamiyu urged SMEs to integrate decision-intelligence tools and analytical frameworks for growth, stability, and competitive advantage.

“Financial data becomes powerful only when it is organized, protected, analyzed, and used with intention,” she added. “Our goal should be to build financial ecosystems where leaders have clear visibility, informed control, and the strategic confidence to grow.”

Tiamiyu also emphasized the need for deeper collaboration between the government, private sector, and academic institutions to promote financial literacy, governance innovation, and data-driven enterprise development. She noted that national economic strength depends significantly on how effectively organizations interpret, manage, and safeguard their financial systems.

“Resilience is not a one-time achievement,” she said. “It is a continuous cycle of governance, insight, and strategic adaptation ensuring that as markets evolve, our financial systems evolve with them.”