Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has called on leaders of Nigeria’s fast-growing fintech sector to balance technological innovation with robust governance, consumer protection, and risk management. Speaking during a strategic session with fintech CEOs on the sidelines of the 2025 IMF/World Bank Annual Meetings in Washington, Cardoso said innovation must not come at the expense of financial integrity and public trust.
Cardoso emphasized that while the CBN remains committed to fostering a thriving innovation ecosystem, fintech growth must be guided by strong ethical and regulatory principles. “As we embrace new technology, it is our responsibility to uphold the integrity of the financial system — maintaining strong governance, consumer protection, and risk management so that trust in our institutions remains firm,” he stated.
The closed-door forum, themed “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion, and Integrity,” brought together fintech founders, investors, regulators, and policymakers. It served as a listening platform for the CBN to understand industry challenges and to shape policy frameworks that ensure innovation and financial stability can coexist. Cardoso reaffirmed that inclusion, transparency, and collaboration are central to Nigeria’s fintech evolution, urging continued dialogue between the apex bank and private sector stakeholders.
Discussions focused on five key policy areas: innovation and responsible growth; infrastructure and interoperability; legal and policy enablement; compliance and financial integrity; and sustainable capital flows. Both the CBN and fintech executives agreed that a balanced regulatory environment—one that enables innovation while maintaining market confidence—will be crucial to unlocking Nigeria’s full fintech potential.
In a related engagement with foreign investors, Cardoso highlighted progress in Nigeria’s macroeconomic stability, citing a rise in external reserves and improved investor sentiment. He assured stakeholders that coordinated fiscal and monetary policies are rebuilding trust in Nigeria’s economy, positioning the country as one of Africa’s most promising destinations for long-term investment and financial innovation.
source: nairametrics