Nigeria's fiscal and financial authorities are emphasizing the importance of public confidence and crisis readiness to strengthen Africa's financial stability.Finance Minister Taiwo Oyedele highlighted that economic growth depends on a stable financial system, which in turn relies on public trust.He noted that deposit insurance has evolved from managing failed banks to becoming a tool for maintaining confidence and preventing instability.

Oyedele stressed that building public awareness is a core risk mitigation strategy, as misinformation in the digital age can trigger liquidity pressures.Nigeria's recent banking sector reforms, including recapitalization, were cited as evidence of efforts to boost confidence.The CBN completed a two-year recapitalization program, with 33 out of 37 banks meeting new capital requirements.Over 70% of the funds came from domestic investors, reflecting growing confidence in the banking sector.Oyedele also mentioned reforms like foreign exchange market adjustments and removing fuel subsidies as steps to strengthen economic confidence.The NDIC managing director, Hassan Dabhol, warned that digital innovation and fintech expansion introduce new risks requiring coordinated responses.The workshop focused on improving deposit insurance frameworks and crisis communication across Africa.