CIBN to launch youth innovation hubs across states, begins with Lagos
The Chartered Institute of Bankers of Nigeria (CIBN) will partner state governments to establish youth innovation hubs across the country, beginning with Lagos State, as part of efforts to equip young Nigerians with digital skills and stimulate innovation-driven economic growth.
President and Chairman of Council of the institute, Dr. Dele Alabi, disclosed the initiative on Wednesday at the fourth CIBN Generation Next Forum in Lagos, themed “Building Tomorrow, Today: Youth as Catalysts of a Digital, Inclusive and Sustainable Economy.”
Alabi said the innovation hubs would serve as platforms for young Nigerians to acquire in-demand digital skills, develop innovative ideas, build businesses and connect with mentors and investors.
According to him, the initiative aligns with the institute’s IMPACT Vision, which promotes generational, gender and geographical inclusion while strengthening innovation and capacity development.
He noted that young people account for about 70 per cent of Nigeria’s population, making investment in their skills and entrepreneurial capacity essential to the country’s economic transformation.
Highlighting the growing influence of Nigerian innovators, Alabi said five of Africa’s nine unicorn startups originated from Nigeria, describing the feat as evidence of the country’s vast entrepreneurial potential.
He urged youths to leverage mentorship opportunities, embrace continuous learning and position themselves for emerging opportunities driven by digital technology and artificial intelligence.
Speaking with journalists after the event, Alabi said artificial intelligence had fundamentally reshaped banking and the future of work, stressing that professionals who fail to acquire AI skills risk becoming less competitive.
While acknowledging AI’s transformative potential, he cautioned that the technology also presents growing risks, including cybercrime, fraud and identity theft, requiring stronger governance and effective risk management.
Earlier, Lagos State Governor Babajide Sanwo-Olu, represented by the Commissioner for Finance, Abayomi Oluyomi, challenged young Nigerians to lead the country’s transition to a digital, inclusive and sustainable economy.
The governor said Lagos was already investing heavily in youth empowerment through funding, innovation and skills development. He disclosed that the Lagos State Employment Trust Fund had disbursed over N15 billion to more than 20,000 micro, small and medium enterprises, creating over 320,000 jobs.
He added that the state had also supported more than 240 startups while training about 1,000 young people in software development, cybersecurity and artificial intelligence.
Sanwo-Olu urged financial institutions and businesses to see young Nigerians as partners in innovation by expanding access to mentorship, finance and career opportunities.
Also speaking, the Managing Director of Lotus Bank, Dr. Isiaka Ajani-Lawal, encouraged youths to cultivate strong habits, discipline, continuous learning and effective execution, saying these qualities would determine success in an economy increasingly shaped by technology and artificial intelligence.
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