CBN Set to Deepen Digital Transformation Culture


By Emma Okonji

The Central Bank of Nigeria (CBN) has said it will deepen its digital transformation culture in response to the ever-changing market conditions.

The financial services industry has witnessed several evolutions within the last two decades and would be subject to many more changes in the next few years, and the CBN has recognised the need to adapt an internal culture and operations to meet present-day reality.
The need to deepen its digital transformation culture, was part of the discussion at the recently concluded Digital Transformation Session, which held in Abuja.

The central bank is consulting with Reliance InfoSystems Ltd., Microsoft’s Tier1 Partner in West Africa to drive technology adoption internally and intensify its internal digital transformation culture.

The goal according to CBN, was hinged on the four pillars of digital transformation which is to empower employees of the CBN to reimagine work and productivity.

The initiative was expected to identify transformation opportunities that would support the CBN’s corporate objectives, engage customers leveraging digital tools and services, optimise operations which include minimising running costs, improve service delivery and facilitate collaboration within teams, and transform its products.

The Deputy Director of CBN, Enterprise Division (IT Architecture and Strategy Division), Mr. Paul Ojeikere, while speaking at the session, highlighted the need for enhancing productivity and collaboration, in order to improve how employees, communicate, collaborate on projects, and develop ideas.

The Managing Director of Reliance InfoSystems, Mr. Olayemi Popoola, while thanking the CBN for the opportunity to collaborate on the initiative, said: “Even with the best practices templates, no external consultant can perfectly pinpoint and successfully drive DT opportunities within an organisation.”

He reiterated that it would take employees of the apex bank across all cadres of the organisation to deliberately turn the transformation wheels as they spot opportunities in the course of their daily routines and interactions.