By Elizabeth Adegbesan

The Association of Chief Audit Executives of Banks in Nigeria, ACAEBIN, has organised an international training and study tour for senior banking and fintech executives as part of efforts to strengthen Nigeria’s readiness for Open Banking.

The programme, organised in partnership with Euromoney and the Association of Banks in Singapore, ABS, was themed

“Open Banking 360°: Strategy, Risk and Assurance for a Secure and Connected Financial Ecosystem.”

Held from June 15 to 23, 2026, the nine-day programme took participants to the United Kingdom and Singapore,

where they engaged with global experts and leading financial institutions on the evolving Open Banking landscape.

The training was designed to expose participants to practical approaches adopted by advanced financial markets in implementing Open Banking while ensuring effective governance, cybersecurity, regulatory compliance, operational resilience and consumer protection.

Sessions in the United Kingdom focused on key aspects of Open Banking, including global regulatory developments, governance frameworks, third-party risk management, application programming interface, API, security, data privacy, customer consent management and assurance mechanisms required to support secure digital financial ecosystems.

Speaking on the significance of the initiative, the Vice Chancellor of ACAEBIN Training Academy, who organized the training and study tour, Oluwole Esomojumi, noted that the programme aligns with Nigeria’s ongoing transition towards Open Banking and reflects the Association’s commitment to building the capacity of industry leaders responsible for governance, assurance, risk management, compliance, operations, and business transformation.

According to Esomojumi, as financial institutions increasingly embrace data sharing, digital innovation, and ecosystem partnerships, there is a growing need for professionals to understand not only the opportunities presented by Open Banking but also the governance structures, regulatory expectations, and assurance frameworks necessary to maintain customer trust and financial system stability.

He further observed that the study tour provided an invaluable platform for cross-border knowledge exchange, enabling participants to benchmark Nigeria’s readiness against international best practices and identify practical lessons that can be adapted to support the country’s evolving financial services landscape.

In the same vein, the Chairperson of the ACAEBIN, Aina Amah, reaffirmed the Association’s commitment to working closely with regulators, financial institutions, FinTechs, and other stakeholders to promote excellence in governance, risk management, internal audit, and assurance while supporting the successful implementation of transformative initiatives that strengthen the resilience and global competitiveness of Nigeria’s financial sector.