CBN Fintech Survey Signals Shift in Regulatory Approach to Nigeria’s Digital Finance Sector
The Central Bank of Nigeria (CBN) is set to release a landmark fintech survey report on Monday, February 2, offering rare insight into how the apex bank now views and engages Nigeria’s fast-growing digital finance sector. The report, which draws from a nationwide survey of fintech operators as well as stakeholder workshops and policy roundtables held in 2025, signals a notable evolution in the regulator’s thinking.
According to sources familiar with the document, the report points to a more structured and ongoing partnership between the CBN and fintech companies as digital finance deepens its role across the economy. While it stops short of announcing new regulations, it reflects a clear shift from treating fintech as a disruptive force to recognising it as foundational infrastructure for payments, lending, data management, and digital identity systems.
CBN Governor Yemi Cardoso reinforced this direction during recent remarks at the Bankers’ Committee meeting, where he referenced the forthcoming report and reiterated the bank’s commitment to responsible innovation. He noted that discussions held during the Strategic Fintech Dialogue at the IMF Fall Meetings helped shape a consultative framework to guide Nigeria’s next phase of fintech development, stressing that innovation must remain anchored in consumer protection and financial stability.
The report also highlights both strengths and tensions within the sector. Respondents identified real-time payments infrastructure as a national advantage and global reference point, while widespread use of artificial intelligence in fraud detection and credit scoring is becoming standard. However, opinions on regulation remain split, with half of surveyed firms describing the environment as enabling and the other half citing licensing delays and policy uncertainty as major constraints.
Beyond regulation, the report is expected to reveal growing financial vulnerability among Nigerian fintechs. Domestic capital remains difficult to access amid macroeconomic instability, while reduced foreign investment has widened funding gaps. Although offshore funding continues to dominate, fintech operators are calling for blended finance, credit guarantees, and deeper capital-market partnerships. While the CBN does not plan to fund fintechs directly, it may play a convening role as it sharpens its focus on resilience, infrastructure, and collaboration within the sector.
source: nairametrics