L-R General Counsel at Moniepoint Inc, Okechukwu Eke; Chairman, Senate Committee on Legislative Compliance, Senator Garba M. Maidoki; Representative of the Nigerian Bar Association and Vice-Chairman,Senate Committee on Legislative Compliance, Senator Ede Dafinone at the recent high-level workshop organized by the Senate in Abuja
Stakeholders at a high-level workshop organized by the Senate Committee on Legislative Compliance have identified digital innovation as a crucial tool for closing Nigeria’s long-standing governance and regulatory compliance gaps. The two-day workshop, themed “Consolidating Strategies for Strengthening Legislative Compliance by MDAs”, took place at the NAF Conference Centre in Abuja and brought together lawmakers, regulators, and leaders from key government institutions and private sector players.
In his opening address, the Senate President, represented by Senator Osita Izunaso, emphasized that legislative compliance is “not optional but fundamental to democratic governance,” reaffirming the Senate’s commitment to stronger enforcement and institutional reform. He also reiterated the constitutional backing that empowers the legislature to make laws for the “peace, order, and good government” of the country.
The event featured prominent voices from the Economic and Financial Crimes Commission (EFCC), the Nigerian Bar Association (NBA), the Ministry of Finance, and Nigeria’s financial and fintech sectors, who echoed a common message — that embracing technology is essential to improving transparency and enforcing legislative resolutions effectively.
A standout moment came from Moniepoint Inc.’s General Counsel, Okechukwu Eke, who delivered a keynote address on the role of fintechs in strengthening consumer protection and fostering a culture of compliance. Eke emphasized that the rapid growth of financial innovation must be anchored in a framework of legal responsibility and trust. “At Moniepoint, we believe innovation in financial services must go hand-in-hand with strong consumer protection,” he said.
He noted that fintechs often serve financially underserved populations, making consumer education and protection especially critical. “Misuse or misunderstanding of products can cause significant financial harm,” Eke warned, underscoring the importance of transparency, fair marketing, privacy, and effective grievance mechanisms. He further advocated for responsible lending practices and the need for fintechs to internalize compliance beyond regulatory checklists.
In line with this, participants called for systemic reform through the integration of digital solutions such as real-time compliance dashboards for legislative oversight committees and Digital Compliance Tracking Systems (DCTS) to facilitate continuous, rather than periodic, monitoring of Ministries, Departments, and Agencies (MDAs). These innovations, stakeholders argued, would significantly reduce information lags and foster a more dynamic, accountable public service.
Moniepoint’s example was widely cited as a model of how private sector compliance innovation could inspire public institutions. The company’s focus on combining digital transformation with robust compliance strategies was seen as vital in building a culture of trust in Nigeria’s evolving digital economy.
The event concluded with strong commitments from Senate Committee Chairman, Senator Garba M. Maidoki, and Vice-Chairman, Senator Ede Dafinone, who pledged to pursue reforms that would embed compliance in Nigeria’s governance systems through technology and inter-agency collaboration. They emphasized that true legislative impact depends on the full implementation of resolutions and that digital oversight will be a cornerstone of future reform efforts.
