The Deputy Governor of Lagos State, Dr. Kadri Obafemi Hamzat, has urged corporate organisations, particularly financial institutions, to prioritise investments in cybersecurity and emerging technologies to safeguard customers’ funds, protect institutional assets and strengthen public confidence in Nigeria’s rapidly evolving digital economy.

Hamzat said the increasing integration of technology into financial transactions and business operations had made cybersecurity a strategic imperative rather than a discretionary expenditure, warning that the sustainability of modern financial institutions would depend significantly on their capacity to protect sensitive information, secure digital infrastructure and anticipate emerging technological threats.

The Deputy Governor made the call on Tuesday, October 27, 2026, while commissioning the new corporate headquarters of Canary Point Holding Limited in Lagos, an indigenous financial services conglomerate with investments spanning banking, digital payments, asset management, specialised financing, investment banking and financial technology.

He commended the remarkable growth and diversification of Canary Point Holding Limited, describing the company’s expanding investment portfolio as a demonstration of indigenous entrepreneurial ingenuity, institutional resilience and the transformative potential of private-sector participation in national economic development.

According to him, the increasing sophistication of financial services and the growing dependence on digital platforms require companies to establish robust technological safeguards capable of protecting customers against cyber threats, financial fraud, data breaches and other vulnerabilities associated with digital transactions.

Hamzat maintained that businesses seeking to remain competitive in an increasingly interconnected global economy must recognise that technological innovation and cybersecurity are mutually reinforcing components of institutional growth.

He consequently challenged Canary Point Holding Limited to consolidate its investments in technology, strengthen its cybersecurity architecture and continuously develop innovative financial solutions that would enhance customer experience while guaranteeing the integrity and security of its operations.

The Deputy Governor also acknowledged the company’s contributions to the Lagos State and national economies through its diversified investments, employment generation, financial intermediation and support for entrepreneurial development.

He noted that the expansion of indigenous financial institutions remained fundamental to economic diversification, improved access to credit and the mobilisation of capital for productive activities.

Beyond cybersecurity, Hamzat disclosed the Lagos State Government’s readiness to explore strategic collaboration with Canary Point Holding Limited in mortgage financing and real estate development as part of efforts to address the state’s housing challenges.

He explained that partnerships between government and credible private financial institutions could facilitate the development of innovative mortgage instruments and affordable housing financing arrangements, particularly for low- and middle-income residents who face considerable difficulties accessing conventional housing finance.

The Deputy Governor further encouraged the company’s subsidiaries to embrace constructive internal competition, operational excellence and continuous innovation, stressing that corporate diversification must be accompanied by measurable improvements in efficiency, service delivery and customer satisfaction.

He observed that the ultimate measure of corporate success should extend beyond the accumulation of assets and expansion of business portfolios to include institutional integrity, customer confidence and sustainable contributions to economic development.

Speaking at the commissioning ceremony, the Group Managing Director of Canary Point Holding Limited, Mr. Idris Ibrahim, said the inauguration of the headquarters represented a significant milestone in the company’s transition from a transaction-focused enterprise into an integrated financial services group.

Ibrahim explained that the company’s evolution was anchored on a deliberate strategy of identifying customers’ financial needs and progressively developing complementary institutions capable of providing solutions across different segments of the economy.

“Behind every transaction is a person or a business trying to achieve something,” he said, recalling the entrepreneurial philosophy that informed the establishment and subsequent expansion of the Group.

According to him, his early experience at Sebastian Bureau de Change provided valuable insights into the broader economic motivations underlying financial transactions, including international trade payments, educational expenses, family remittances and business financing.

These experiences, he explained, exposed significant gaps in the financial services market and eventually informed the establishment of Swift & Allied Partners Limited in 2014 to provide lending solutions.

He said the Group subsequently embarked on a systematic programme of business expansion, acquisitions and institutional development designed to create a diversified financial ecosystem capable of addressing interconnected customer needs.

Ibrahim disclosed that Nairagram, established in 2016 as an Africa-owned international payments platform, currently facilitates transactions across 37 African countries, with operational licences in Nigeria, the United States, the United Kingdom and Canada.

He revealed that the payments company had processed transactions exceeding ₦1 trillion within the past three years, reflecting its growing participation in cross-border financial services and international remittance operations.

The Group Managing Director also explained that Canary Point Holding acquired Assets Microfinance Bank in 2018 and subsequently repositioned the institution as a digitally enabled financial services provider.

According to him, the bank, which operates community banking hubs in Lekki, Ikeja and Ikorodu, has disbursed approximately ₦50 billion in loans and expanded its customer base to more than 100,000 individuals and businesses.

He added that Canary Point Finance, established in 2022 and operating under a Finance House licence issued by the Central Bank of Nigeria, had disbursed more than ₦100 billion in financing across several productive sectors.

These include agriculture, construction, fashion, oil and gas, fast-moving consumer goods and technology.

Ibrahim said the company was also developing a dedicated digital finance application to improve accessibility, accelerate service delivery and expand financing opportunities for businesses.

On the Group’s investment management operations, he disclosed that Canary Point Asset Management, established in 2024, secured regulatory approval from the Securities and Exchange Commission in 2026 and had accumulated approximately ₦5 billion in assets under management.

He explained that the investment portfolio comprised equities, bonds, treasury bills and other financial instruments designed to provide wealth creation and investment opportunities for customers.

Other businesses within the Group include WhyteLabel Technologies, which provides technological capabilities; Canary Point Capital, established following the acquisition of an issuing house company; and Canary Point Foundation, which coordinates the Group’s social investment initiatives.

Ibrahim said the company’s diversification strategy was guided by its corporate philosophy, “One Canary: One Group, Distinct Businesses, Common Direction,” which seeks to promote operational coordination while preserving the specialised mandates of individual subsidiaries.

He emphasised that the objective was not merely to accumulate financial licences or establish multiple companies but to develop an interconnected institutional structure capable of supporting customers throughout their financial and commercial journeys.

The Group Managing Director disclosed that Canary Point Holding currently employs more than 400 people, serves over 25,000 customers at the Group level and maintains assets exceeding ₦100 billion.

He maintained that these achievements reflected the confidence of customers, the dedication of employees and the importance of building sustainable institutions capable of contributing to Nigeria’s economic transformation.

According to him, the new corporate headquarters will strengthen coordination among subsidiaries, improve operational integration and provide the institutional infrastructure required for the Group’s next phase of expansion.

He further stressed that the company’s long-term ambition was to leverage technology, financial innovation and strategic partnerships to expand access to financial services across Nigeria and other African markets.

The keynote address was delivered by Senator Aminu Iya Abbas of Adamawa State, who represented Senator Tokunbo Abiru, Chairman of the Senate Committee on Banking.

In the address, Canary Point Holding Limited was commended for its expanding contributions to Nigeria’s financial services and technology sectors, particularly its investments in complementary businesses designed to deepen financial inclusion, strengthen institutional capacity and improve access to financial solutions.

The address also highlighted the importance of indigenous financial institutions in mobilising investment capital, supporting enterprise development and strengthening the country’s financial architecture.

The commissioning attracted prominent political figures, financial industry executives, investors and corporate leaders, reflecting the company’s expanding relationships across Nigeria’s business community.

Among the dignitaries were Senators Aminu Iya Abbas, Wasiu Eshinlokun, Saliu Mustapha and Musiliu Obanikoro; Chairman of Canary Point Holding Limited, Mr. Kayode Lambo; the Group Chief Operating Officer of First City Monument Bank (FCMB); and Executive Vice Presidents of the Africa Finance Corporation.

Also in attendance were Mrs. James Sonayan, identified among the political dignitaries; two Executive Directors of Fidelity Bank; representatives of FCMB; members of the boards of Canary Point Holding’s subsidiaries; high-net-worth individuals and other strategic stakeholders.

The ceremony equally attracted young corporate executives, entrepreneurs and investors drawn from the maritime, banking, finance, investment, oil and gas, real estate and technology sectors.

Their participation underscored the growing importance of cross-sector partnerships in advancing financial innovation, strengthening investment relationships and creating new opportunities for economic expansion.

The commissioning of the new headquarters marks another phase in Canary Point Holding Limited’s corporate development, as the Group seeks to consolidate its diversified investments and strengthen its position within Nigeria’s increasingly competitive financial services industry.

It also reinforces the broader economic significance of Hamzat’s message that, in an era of accelerating digital transformation, the capacity of financial institutions to safeguard customers, protect assets and maintain technological resilience will remain central to sustainable corporate growth and public confidence.