Nigerian Fintech Leaders Engage Regulators and Lawmakers to Shape Inclusive Growth Framework
Nigeria’s fast-growing financial technology industry is strengthening its ties with government regulators and lawmakers to accelerate innovation and financial inclusion. The Fintech Association of Nigeria (FintechNGR), the umbrella body representing fintech operators in the country, led a series of high-level engagements with the Central Bank of Nigeria (CBN), Securities and Exchange Commission (SEC), National Insurance Commission (NAICOM), and key members of the Senate. The discussions were aimed at building a regulatory environment that balances growth with stability, while also preparing the ecosystem for broader opportunities beyond payments.
The delegation was led by Dr. Segun Aina, Chairman of FintechNGR’s Board of Trustees and President of the Africa Fintech Network, alongside industry leaders including Dr. Stanley Jacob, CEO of Zest Payments Limited and President of FintechNGR; Dr. Jameelah Sharrieff-Ayedun, CEO of Credit Registry Limited; and Oluwaseun Adesanya, Transformation and Innovation Executive at FintechNGR. Together, they pressed for stronger collaboration between innovators and policymakers, stressing the urgency of frameworks that allow fintechs to thrive in sectors such as healthtech, agritech, edutech, and insuretech.
At the meeting with the Governor of the CBN, Dr. Olayemi Cardoso, stakeholders explored how fintechs can close Nigeria’s financial inclusion gap, especially for the unbanked and underbanked. Cardoso acknowledged the rapid growth of the sector, while the CBN’s Director of Payments System Supervision, Dr. Rakiya Opemi Yusuf, reaffirmed the apex bank’s support for innovation-friendly policies. Similar conversations with NAICOM centered on how technology can unlock insurance access for everyday Nigerians, addressing the long-standing challenge of low penetration in the sector.
Lawmakers also expressed readiness to back fintech-friendly legislation. Senator Adetokunbo Abiru, Chairman of the Senate Committee on Banking and Finance, highlighted the importance of expanding fintech solutions into more verticals, while commending the SAIL Innovation Lab in Lagos for nurturing young entrepreneurs. Senator Shuaib Salisu, Chair of the Senate Committee on ICT, further assured industry leaders that the Senate is committed to policies that safeguard data, enhance cybersecurity, and boost Nigeria’s competitiveness in the global digital economy.
These engagements come ahead of the highly anticipated Nigeria Fintech Week 2025, scheduled for October 7–9, under the theme “The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future.” The event has already secured major sponsors such as First Bank, Mastercard, Huawei, and Zenith, and will attract players across fintech, lifestyle, agritech, entertainment, healthtech, and artificial intelligence. Organizers say the conference will spotlight how fintech is no longer just about finance, but the driving force behind how economies live, trade, and connect.
source: The guardian