Technology | Fintech

Stakeholders Develop National Fintech Strategy to Leverage FinTechs for Inclusive Growth and Development

Dec 20, 2022   •   by   •   Source: National Financial Inclusion Steering Committee   •   eye-icon 287 views

The National Financial inclusion Steering Committee, a committee of stakeholders from the public and private sector has been at the forefront of promoting inclusive growth and development through financial inclusion.


The committee recognizes the place of innovative models in achieving financial inclusion objectives, particularly; the committee believes FinTech has the potential to facilitate inclusive growth in the Nigerian economy. FinTech also has the potential to deepen the existing payment and financial system infrastructure to reach unserved areas and further stimulate growth.


In the light of this, the national financial inclusion stakeholders developed a strategy to leverage FinTechs for inclusive growth and development, while enabling the Nigerian FinTech ecosystem for global competitiveness. The strategy seeks to achieve these objectives through the implementation of some key initiatives to catalyze the FinTech ecosystem. It highlights demand and supply side imperatives for harnessing and retaining the talent pool in the FinTech space and the mainstreaming of FinTechs into the Financial Service sector. 


Furthermore, the document seeks to address issues that have militated against the growth of FinTechs in Nigeria and will serve as a collaborative tool to maximize the benefit of FinTechs while mitigating the risk.


The National FinTech Strategy is a major component of the Payment Systems Vision 2025 (PSV |2025). In addition, the strategy would enable the attainment of the objectives of the Nigerian Startup Bill, 2022, particularly in the Financial Services sector.


On behalf of all members of the Financial Inclusion Steering Committee in Nigeria, | am pleased to present the first National FinTech Strategy for Nigeria.

Thank you.

Godwin I. Emefiele, CON

Governor, Central Bank of Nigeria and Chairman, National Financial Inclusion Steering Committee


Download Here – CBN National Fintech Strategy 2023

Download Here - Nigeria Payments System Vision 2025

Download Here - Strategy Leveraging Agent Networks for Womenʼs Financial Inclusion


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