Nigeria: FintechNGR Deepens Engagement with CBN and Lawmakers to Drive Fintech Growth

The Fintech Association of Nigeria (FintechNGR) has stepped up its engagement with regulators and lawmakers to strengthen collaboration and accelerate the growth of Nigeria’s financial technology ecosystem.

A delegation led by Dr. Segun Aina, Chairman of the Board of Trustees of FintechNGR and President of the Africa Fintech Network, met with key stakeholders, including Dr. Olayemi Cardoso, Governor of the Central Bank of Nigeria (CBN); Dr. Rakiya Opemi Yusuf, Director of Payments System Supervision, CBN; and Mr. Olusegun Ayo Omosehin, Commissioner for Insurance, NAICOM. The team also held discussions with lawmakers such as Senator Adetokunbo Abiru, Chairman of the Senate Committee on Banking and Finance, and Senator Shuaib Salisu, Chairman of the Senate Committee on ICT.

Other members of the delegation included Dr. Stanley Jacob, CEO of Zest Payments Ltd and President of FintechNGR; Dr. Jameelah Sharrieff-Ayedun, CEO of Credit Registry Ltd and Vice President of FintechNGR; Mr. Oluwaseun Adesanya, Transformation & Innovation Executive and Treasurer of FintechNGR; and Omotola Olatujayan.

Speaking during the engagements, Dr. Stanley Jacob stressed the importance of collaboration:

“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 Olayemi Cardoso acknowledged the sector’s rapid expansion, noting the need for regulatory frameworks that ensure sustainability, compliance, and inclusivity. Supporting this, Dr. Yusuf emphasized that the CBN remains committed to promoting product innovation while safeguarding financial system stability.

On insurance sector opportunities, NAICOM Commissioner Omosehin highlighted fintech’s potential to close coverage gaps and expand access through digital solutions.

Lawmakers also underscored the importance of cross-sectoral innovation. Senator Abiru urged the fintech industry to expand beyond payments into health-tech, insur-tech, edu-tech, and agric-tech, while pointing to initiatives like the SAIL Innovation Lab as vital for nurturing young entrepreneurs. Senator Salisu added that forward-looking legislationin areas such as data protection and cybersecurity will be critical for driving Nigeria’s digital economy.

FintechNGR affirmed that these high-level engagements reflect its commitment to building a sustainable, inclusive, and innovation-driven fintech ecosystem. By working more closely with regulators and lawmakers, the association aims to ensure that fintech continues to drive economic opportunities, financial inclusion, and transformative growth across Nigeria.