ACAEBIN Strengthens Open Banking Readiness Through International Collaboration

Oluchi Chibuzor 

The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), has announced its International partnership with Euromoney and the Association of Banks in Singapore (ABS) in a significant step towards strengthening Nigeria’s preparedness for the implementation of Open Banking.

Speaking on the significance of the initiative, recently in Lagos the Vice Chancellor of ACAEBIN Training Academy, Oluwole Esomojumi, who organized the training and study tour, noted that the programme aligns with Nigeria’s ongoing transition towards Open Banking.

He noted that the collaboration with international organisations reflects the association’s commitment to building the capacity of industry leaders responsible for governance, assurance, risk management, compliance, operations, and business transformation.

Esomojumi said that as financial institutions increasingly embrace data sharing, digital innovation, and ecosystem partnerships, there is a growing need for professionals to understand not only the opportunities presented by Open Banking.

He noted that they must also understand governance structures, regulatory expectations, and assurance frameworks necessary to maintain customer trust and financial system stability.

He further observed that the study tour provided an invaluable platform for cross-border knowledge exchange, enabling participants to benchmark Nigeria’s readiness against international best practices and identify practical lessons that can be adapted to support the country’s evolving financial services landscape.

Commenting, the Chairperson of the ACAEBIN, Aina Amah, reaffirmed the Association’s commitment to working closely with regulators, financial institutions, FinTechs, and other stakeholders.

She said the partnership is to promote excellence in governance, risk management, internal audit, and assurance while supporting the successful implementation of transformative initiatives.