FITC was established in 1981 as a Limited by Guarantee not for profit professional services organisation, based on the Company’s Act of 1968. It was created in response to the recommendations of the Pius Okigbo Committee, which was set-up by the Federal Government of Nigeria in 1976, to review the Nigerian financial system. FITC’s Institutional Members are members of the Nigerian Banker’s Committee, comprises of the Central Bank of Nigeria, the Nigeria Deposit Insurance Corporation and all licensed banks in Nigeria.
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Digital Financial Services: DFS RISK MANAGEMENT FRAMEWORK
September 22, 2025 @ 9:00 AM - September 26, 2025 @ 5:00 PM
4000$
Background
The last decade has seen a wave of innovations in financial services, particularly aimed at serving the unbanked populations in emerging markets. Low-income individuals, microentrepreneurs and rural populations that were previously left out of the financial service are now accessing financial services through mobile phones and networks of agents acting as representatives of financial service providers. This has resulted in a remarkably rapid increase in financial inclusion.
As strategic as Digital Financial Services (DFS) is in increasing access and reach of basic financial services to the un(der) banked population in Africa through innovative financial technologies and platforms, it also come with exposure to new risks for the whole ecosystem. These risks, such as; money laundering, privacy and security, consumer protection, fraud, and credit and liquidity risks extend beyond operational and technical challenges to include emerging and often unforeseen
risks.
For the financial system to be able to leverage fully on the benefits of digital financial services, it is important that the accompanying risks are understood and adequately addressed. It is therefore expedient for all stakeholders to recognize these risks and put in place measures to ensure the establishment of a comprehensive DFS risk management framework to supervise the players in this evolving landscape.
This course is designed to equip participants with the ability to develop robust frameworks for the effective management of risks in DFS, ensuring its sustainability and security.
Target Audience
This course is designed to equip a variety of actors across the regulatory landscape, including:
- Regulators (CBN, SEC, NAICOM, NITDA, NIBSS, PENCOM)
- Compliance Officers & Risk Managers in banks and FinTech’s
- Mobile Network Operators (MNOs) with mobile money services
- Technology and Cybersecurity professionals in DFS
- Internal and external auditors
- Policy makers and supervisors in financial services
Learning Outcome
During the course of this programme, participants would:
- Explain the strategic role of Digital Financial Services (DFS) in serving the increasingly dynamic customers base in the banking sector.
- Apply critical principles to develop supervisory and policy frameworks for digital financial service providers.
- Appraise the risk exposures within the DFS ecosystem.
Learning Objectives
At the end of this course, participants will:
- Recall the rapid growth in the global financial landscape fuelled by digital financial innovation and technology in financial services.
- Identify the associated and emerging risks in digital financial operations.
- Explore strategies for embedding financial stability within DFS.
- Apply key principles to design supervisory frameworks for DFS providers.
- Analyze policy issues to effectively regulate and supervise DFS.
Account Name: Financial Institution Training Centre
Bank Name: GT Bank
Account Number: 0129551101
Swift Code: GTBINGLA