FirstBank Managing Director and Chief Executive Officer Olusegun Alebiosu has called for stronger collaboration among financial-sector stakeholders to improve banking services and expand the industry’s contribution to economic development.
Alebiosu made the call as FirstBank hosted the West Africa International Banking Dialogue and Awards Gala 2026 in partnership with The Asian Banker in Lagos.
The gathering brought together banking executives, regulators and fintech leaders to discuss the future of financial services across the region.
One of the key issues was how banks can translate increased capital into more productive lending.
Recapitalisation raises expectations for lending
Nigeria’s banking-sector recapitalisation exercise has required lenders to strengthen their capital bases to meet revised regulatory requirements.
A stronger capital position can help banks absorb losses and support larger volumes of financial activity. However, additional capital does not automatically translate into more loans.
Banks must still assess borrowers’ repayment capacity, collateral, business prospects and exposure to economic risks.
The cost of funding and the wider business environment also influence lending decisions.
Alebiosu’s call for collaboration comes as the industry considers how to use its strengthened financial capacity to support businesses and households.
Why collaboration matters
Cooperation among banks, regulators and technology companies can help address challenges in the delivery of financial services.
Banks can work with fintech firms to improve digital access and customer experience. Regulators can clarify requirements and strengthen consumer protection, while financial institutions can share expertise on emerging risks and market opportunities.
For small and medium-sized enterprises, better financial services can improve access to payments, working capital and other products needed to operate and expand.
However, collaboration must also preserve sound risk management and responsible lending practices.
Businesses need access to sustainable finance
Access to finance remains important for companies seeking to purchase equipment, manage cash flow, expand operations or enter new markets.
When credit is available on suitable terms, businesses can invest in productive activity and potentially create jobs.
Yet lending must remain sustainable. Poor credit decisions can increase non-performing loans and weaken banks’ financial positions.
The challenge for the industry is therefore to expand access to finance while maintaining appropriate credit standards.
Turning stronger capital into economic value
The recapitalisation exercise provides banks with a stronger foundation, but the wider economic benefits will depend on how institutions use that capacity.
Financial-sector collaboration, prudent lending and better access to suitable financial products can all contribute to the process.
For FirstBank and its peers, the measure of success will be whether stronger balance sheets lead to more effective support for businesses, improved services for customers and sustainable economic activity.
