02
Feb
Feb
CBN RELEASES COMPREHENSIVE REPORT ON NIGERIA’S FINTECH ECOSYSTEM
-
Caroline Ameh / 2 days
- 0
- 2 min read
The Central Bank of Nigeria (CBN) has published a comprehensive report assessing the state of Nigeria’s fintech ecosystem, outlining key priorities required to sustain innovation, safeguard system integrity, and drive the next phase of digital financial growth. The report provides an in-depth examination of the scale, maturity, and structure of Nigeria’s fintech sector, highlighting the country’s strong leadership in real-time payments and the underlying factors that have shaped recent growth. It positions fintech as a complementary pillar within the broader financial system, enhancing financial inclusion, efficiency, and market reach while maintaining stability and resilience. Drawing on surveys and extensive stakeholder engagements, the publication identifies practical policy pathways to improve regulatory coordination, strengthen supervisory capacity, and promote responsible innovation, including support for cross-border expansion. It emphasises interoperability, proportional regulation, and effective policy execution as critical enablers for the sustainable development of the fintech ecosystem. According to the CBN, the report is part of an ongoing series aimed at deepening engagement with financial sector stakeholders, providing clearer regulatory guidance, and supporting more coordinated implementation across the industry. It is designed to serve as a shared reference for banks, fintech companies, regulators, infrastructure providers, investors, and development partners as Nigeria consolidates its position in the regional and global fintech landscape.