TRENDS IN THE BANKING INDUSTRY AND DEVELOPMENT IN THE NIGERIA FINANCIAL SECTOR

The study examines trends in the Banking Industry and Development in the Financial Sector in Nigeria. This study is carried out to analyse and evaluate changes in the traditional banking practices driven by technological advancements that has translated to development in the Nigerian financial landscape. The study adopts conceptual and analytical research approach to account for digital advancements creating new possibilities and pathways for financial services delivery, products , as well as payment systems leading to expansion of the financial super sector. The study based it analysis on data available from the Central Bank of Nigeria official Gazette evaluating technological transformations that has shaped and reshaped the Nigerian financial sector and it development. The study carefully ex-rayed and identified experiences from the COVID-19 pandemic, the various central Bank of Nigeria initiatives toward financial inclusion targets and the 21st century digital financial innovation appreciation across industries as major drivers for the trends in the banking industry. Analysing it's consequences on the sector, identifying artificial intelligence (AI)  as agent of revolutionary frontiers in the development of the sector. The study recommends that Fintech led development is key to the forthcoming industrial revolution, risk management tool and to curtail the banking malware in the banking sector amongst others.