The Senate has called for a stronger regulatory framework to position the Central Bank of Nigeria (CBN) at the centre of coordinating oversight for Nigeria’s rapidly expanding fintech sector, while also urging stricter measures to curb the spread of Ponzi schemes across the country. The call was made on Tuesday by the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Senator Adetokunbo Abiru (Lagos East), during a one-day public hearing at the National Assembly. The joint hearing, convened by the Senate Committees on Banking; ICT and Cyber Security; Capital Market; and Anti-Corruption and Financial Crimes, examined ways to strengthen Nigeria’s financial regulatory architecture amid rapid digital transformation and rising cases of financial fraud. T...