Follow Us on Google Discover
Abubakar Jimoh, FCIB, CFA, Group CEO of TrustBanc Financial Group and Chairman of the Occasion at the 2026 Lagos Bankers’ Fair, has called on banks, fintechs, regulators and professional bodies to combine their strengths in expanding credit, deepening financial inclusion and building a more resilient financial system for Lagos and Nigeria.
Delivering the Chairman’s address at the Fair on 13 August 2026 under the theme, “Connecting Finance, Innovation and Opportunity for a Greater Lagos,” Abu Jimoh argued that Lagos has the concentration of talent, capital, regulatory will and professional expertise required to convert financial innovation into inclusive economic infrastructure.
- “The banking industry that built this city’s commercial reputation and the fintech industry now writing its next chapter are two halves of the same future. Lagos is uniquely positioned to fuse them.”
The central argument of the address was that AI can widen access to finance for Nigerian MSMEs by giving character its rightful place in credit assessment. Analysing historical transactions and repayment data allows banks to evaluate character directly, rather than defaulting to collateral among the traditional 5 Cs of credit: character, capacity, capital, collateral and conditions.
Nigeria has more than 39 million MSMEs, representing approximately 96% of businesses, contributing about half of GDP and employing more than 84% of the workforce. Yet only about 4% have access to formal bank loans, with unmet MSME credit demand estimated at more than $32.2 billion.
Also Read
He explained that repayment behaviour and supplier payment patterns leave a track record that reveals character; evidence of how a borrower has honoured financial obligations, while transaction histories and cash-flow patterns offer a supporting read on capacity.
Properly designed AI can analyse these financial trails to assess creditworthiness, calculate risk, and process loans faster and at greater scale than manual underwriting allows, helping close Nigeria’s MSME credit gap.
- “AI makes character measurable and capacity visible. It does not abandon the five Cs; it enables banks to apply them more intelligently.”
Citing evidence from Nigerian digital lenders, China’s small-business lending market and traditional banks in the United States, he said AI-enabled credit is not a capability reserved for fintechs. Traditional and microfinance banks can deploy it to reach underserved borrowers while strengthening, rather than compromising, credit quality.
At Mango Microfinance Bank, he said, the principle is already being translated into practice through the development of its MangoMonie data-led platform, which will use repayment behaviour to reveal character, supported by transaction histories and cash-flow patterns as evidence of capacity, helping viable MSMEs demonstrate creditworthiness where conventional collateral is limited.
The initiative will build on Mango’s track record of extending credit to thousands of individuals and MSMEs.
He called on the Chartered Institute of Bankers of Nigeria to elevate fintech, digital banking and agency banking from modules and electives into dedicated, standalone professional certifications. He proposed a pathway such as a CIBN Chartered Fintech Practitioner designation, giving fintech professionals recognition and helping traditional banks attract talent that understands both regulatory discipline and digital-first business models.
He further recommended that artificial intelligence become a core, examined pillar of the qualification, with the same seriousness accorded to regulation and risk, so that CIBN can produce professionals capable of building, deploying and governing AI responsibly.
Closing the address, Abu Jimoh called on institutions and professionals across the financial sector to lead the fusion of banking and fintech: “Let this be the beginning, not the end, of the conversation about connecting finance, innovation and opportunity for a truly greater Lagos.”
About Abubakar Jimoh
Abubakar Jimoh, FCIB, CFA is the Group Chief Executive Officer of TrustBanc Financial Group, a leading, integrated financial services group comprising four licensed operating subsidiaries.
The Group provides a comprehensive range of investment management and financing solutions, including treasury, fund and wealth management, investment advisory, securities trading, non-interest investment and financing, corporate finance, microfinance, savings, payments and lending solutions.
Mango Microfinance Bank Limited, one of TrustBanc’s four licensed operating subsidiaries, distributes its products through its MangoMonie app, providing savings, payments and lending solutions to individuals and MSMEs across Nigeria.
Alongside his role at TrustBanc, he also serves as an Independent Non-Executive Director on the Board of Access Holdings Plc and as Chairman of Impact Credit Guarantee Limited, a subsidiary of the Development Bank of Nigeria. He previously served as Chairman of Access Holdings Plc and as Managing Director/Chief Executive Officer of Coronation Merchant Bank
