Former Executive Director of Operations at the Securities and Exchange Commission (SEC), Dayo Obisan, has been appointed as a board member at Canary Point Holdings, a prominent financial services group.
In a statement released on Monday, the company emphasized that Obisan brings extensive regulatory and operational expertise to his new role.
Obisan is joined by Iyinoluwa Aboyeji, co-founder of Andela and Flutterwave, who brings significant experience in fintech innovation and entrepreneurship. Both appointees have been formally inducted into their positions.
Group Board Chairman, Kayode Lambo, stated that the new board members have been equipped with the necessary information and tools to make informed, strategic decisions.
“The new board members are expected to bring valuable experience and innovation, particularly in the fintech space, aligning with Canary Point’s vision to integrate fintech and its components into their products and services,” Lambo said.
Nigerian Exchange Group (NGX) listing
Group Managing Director, Idris Ibrahim, outlined the company’s aspirations to grow in revenue and assets, with a long-term goal of listing on the Nigerian Exchange Group (NGX) and acquiring a commercial banking license.
- The company has an ambitious five-year strategic plan aimed at restructuring its operations to enhance productivity and profitability, ultimately evolving into a full-fledged commercial bank.
- Emmanuel Bassey, Managing Director of Assets Microfinance Bank, highlighted that the appointments will help the company focus on creating tailored and innovative digital financial products catering to grassroots clients and SMEs.
Canary Point Holdings operates through three key subsidiaries: Assets Microfinance Bank Limited, which provides microfinance services to individuals and small businesses; Canary Point Finance Limited, which offers a range of financial solutions for high-net-worth individuals (HNI) and institutions, including loans and investment opportunities; and Canary Point Capital Limited, which specializes in investment banking services across various asset classes and industries.
What you should know
During the Nairametrics Economic Outlook webinar in 2022, Obisan remarked that Nigeria is leading among countries in making rules and regulating the digital asset space in Africa.
- He said the SEC was working to regulate the digital space as well as make it viable for the operator and protect investors that are going there, adding, the reality is that fintechs are here. Months ago, we still released additional rules on crypto.
- He said Nigeria is leading in Africa in terms of making the rules and regulating the digital asset space. According to him, Nigeria is one of those acknowledged globally to be looking keenly into that space.
Obisan further explained that while many people confuse the function of the Central Bank of Nigeria (CBN) with the SEC regarding cryptocurrency regulation, the SEC becomes involved when crypto is used as an investment.
