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CBN National Fintech Strategy 2023

Dec 19, 2022   •   by   •   Source: National Financial Inclusion Steering Committee   •   eye-icon 338 views

The influences of the fourth industrial revolution (4IR) and digital economy in Nigeria's financial technology (FinTech) ecosystem are growing because of the entrepreneurial drive of young Nigerians and access to foreign venture capital. Despite the organic growth of FinTechs, the impact of financial inclusion has been minimal. Hence, the National Financial Inclusion Technical Committee and Alliance for Financial Inclusion (AFI) convened a Roundtable to examine the extent to which an enabling regulatory environment and policies could support FinTechs and innovative businesses in accelerating financial inclusion in Nigeria. One outcome of the Roundtable was the need for a National FinTech Strategy. The strategy seeks to unlock innovation through FinTechs to drive inclusive growth and development, while facilitating global competitiveness.

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