FintechNGR strengthens regulator ties to deepen financial inclusion and drive innovation in Nigeria’s fintech ecosystem through strategic collaboration

FintechNGR strengthens regulator ties to deepen financial inclusion and accelerate the growth of Nigeria’s financial technology ecosystem, through strategic collaboration with key government bodies and lawmakers.

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In a concerted effort to align policy with innovation, the Fintech Association of Nigeria (FintechNGR) has embarked on high-level engagements with regulators including the Central Bank of Nigeria (CBN) and the National Insurance Commission (NAICOM), as well as members of the Nigerian Senate.

Leading the delegation was Dr Segun Aina, Chairman of FintechNGR’s Board of Trustees and President of the Africa Fintech Network, alongside Dr Stanley Jacob, President of FintechNGR and CEO of Zest Payments Ltd, and other top executives.

Speaking during the engagements, Dr Jacob emphasised the importance of long-term partnerships:

“Sustained engagement between fintech operators and regulators is crucial to deepening financial inclusion, expanding access to digital financial services, and leveraging technology for economic growth.”

CBN Governor, Dr Olayemi Cardoso, acknowledged the explosive growth of fintech in Nigeria and called for balanced regulatory frameworks:

“It is essential that regulatory frameworks ensure sustainability, compliance, and inclusivity within the sector.”

Echoing this sentiment, Dr Rakiya Opemi Yusuf, Director of the CBN’s Payments System Supervision Department, noted the central bank’s commitment to innovation while maintaining financial system stability.

NAICOM Commissioner, Mr Olusegun Ayo Omosehin, welcomed the partnership as an opportunity to use digital solutions to bridge gaps in insurance access across the country.

Lawmakers also expressed support. Senator Adetokunbo Abiru, Chairman of the Senate Committee on Banking and Finance, pointed to the importance of extending fintech innovation to other sectors like health-tech and agric-tech, citing initiatives like the SAIL Innovation Lab.

Meanwhile, Senator Shuaib Salisu, Chair of the Senate Committee on ICT, stressed the need for robust legislation in areas such as data protection, cybersecurity, and digital finance.

FintechNGR reaffirmed its mission to build a resilient, inclusive, and forward-thinking ecosystem, stating that such strategic collaborations are vital for realising Nigeria’s digital economy ambitions.

Also read: CBN Boosts Financial Inclusion with New Reforms

The association continues to play a pivotal role in shaping policy dialogue and ensuring that fintech remains a force for economic empowerment and social progress.