Efforts to attract fintechs to the stock market and leverage their fundraising capability to boost liquidity may have yielded some progress as the Federal Government, through the Ministry of Communications, Innovation and Digital Economy, disclosed plans to create an appropriate regulatory environment and improve digital infrastructure that would enable fintech to access funds, especially from…

Agusto & Co, a leading rating agency, said the banking industry’s loan book rose by 27 per cent in the 2022 financial year, a feat spurred by increased activities at the differentiated cash reserve requirement (D-CRR) window, higher deposit base and naira devaluation.

The meteoric expansion of Nigeria’s financial services industry and the evolving nature of modern banking in the last 10 years due to the rapid advancement of technology has led to unexpected regulatory and legal challenges.

There are indications Nigerians will be able to leverage eNaira for investment purposes in the near future even though the central bank digital currency (CBDC) was created solely for financial transactions.

Last December, a report had it that out of about $4 billion start-up funding that Africa attracted in 2021, Nigeria earned the largest chunk of $1.37 billion.

As Fintechs and Neo-banks begin to scale on the continent, KPMG Professional Services has stressed the need for banks across the continent to adopt emerging technologies and create more functional,....

The Nigeria Deposit Insurance Corporation (NDIC) has said the emergence of financial technologies (fintech) has brought new challenges

Despite the worth of Nigeria Exchange Limited (NGX), estimated to be in excess of N20 trillion, financial technology (Fintech) firms are looking beyond the shores of Nigeria...

Mr Mustapha Haruna, Director, Banking Supervision Department, CBN, has said that the apex bank would continue to monitor FinTech companies in Nigeria, as an important sector in its operations.

To create harmonious relationships in the financial technology space, there is a need for clarity of regulations from the regulators to the players in the sector, especially Fintechs.

The partnership of the telecommunications sector, financial technology companies (Fintechs) and banks, if well leveraged, can drive Nigeria’s cashless economy programme.

With support and investments, Financial Technology (Fintech) companies in Nigeria can be instrumental to bridging identity management and financial inclusion gaps.