The Senate Committee on Legislative Compliance is to host a two-day workshop in Abuja to address the root causes of weak oversight and institutional gaps in the legislative arm of government.
Themed ‘Consolidating Strategies for Strengthening Legislative Compliance by MDAs’, the two-day workshop scheduled for April 15 and 16, 2025 at NAF Suites, Abuja, is expected to bring together lawmakers, regulators, and over two hundred representatives from federal Ministries, Departments, and Agencies (MDAs).
According to the Auditor General’s report, over ₦3.4 trillion in financial infractions were uncovered across federal MDAs in 2021, which highlighted Nigeria’s deepening compliance crisis and the urgent need for stronger oversight in public institutions.
The plenary sessions will be chaired by Lateef Fagbemi, the Attorney General of the Federation, and Wale Edun, the Minister of Finance while conversations will focus on closing compliance gaps, strengthening institutional transparency, and promoting cross-sector collaboration.
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“When public funds go unaccounted for, it doesn’t just damage government credibility, it affects the entire financial ecosystem, including fintechs,” Rasaq Kadri, Kuda, head of compliance, Kuda Microfinance Bank, said in a statement.
He stated that Nigeria fintechs have the tools and perspective to support better governance, and also have a responsibility to be part of the solution. According to him, Kuda will co-sponsor the workshop as part of its commitment to supporting responsible innovation, governance, and regulatory alignment in Nigeria’s financial ecosystem.
“We can’t build trust-driven products in a trust-deficient environment. Every time compliance is treated as a box-ticking exercise, we miss the chance to build something that lasts,” Kadri stated, disclosing that the bank will leverage the workshop to engage directly with key stakeholders in Nigeria’s regulatory and public service ecosystem.
Kadri will deliver a keynote address on the second day of the event, highlighting the efforts of Nigeria’s fintechs to promote inclusion and financial literacy without compromising on compliance best practices.
According to him, the Senate Committee on Legislative Compliance Workshop is a unique platform for dialogue, knowledge-sharing, and collaborative action.
