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FintechNGR, under the leadership of President Ade Bajomo, has renewed its partnership with the Securities and Exchange Commission (SEC) to strengthen regulations and collaboration within Nigeria’s fintech sector. The engagement, held in Abuja, emphasized the critical role of FintechNGR as a leading fintech association in fostering regulatory advancements.

During a meeting with Dr. Emomotimi Agama, SEC’s Director General, and the SEC management team, discussions centered on recent developments in the fintech industry, including virtual assets, and strategies to enhance interactions between regulators and fintech entities.

Mr. Bajomo praised President Bola Ahmed Tinubu for appointing a distinguished team to the SEC, highlighting their pivotal role in shaping fintech regulation. He noted the significant impact of this leadership on the sector’s growth and regulation.

Dr. Agama outlined the SEC’s new strategic direction aimed at maximizing the benefits of fintech for the broader economy. He remarked, “The SEC’s involvement has been crucial in the fintech ecosystem’s development in Nigeria. Effective regulation of fintechs and their affiliates can significantly bolster the market and expand investment opportunities.”

Future initiatives discussed include enhancing the 2024 Nigeria Fintech Week, enriching the Regulators Forum, hosting fintech learning series for stakeholders, and exploring self-regulation options for FintechNGR to strengthen ties with regulators.

FintechNGR has previously launched a Fintech Learning Series for regulators, which led to the development of the Fintech Adoption Roadmap Policy. This policy has guided the issuance of key regulations, including crowdfunding, virtual asset, and robo-advisory rules. The Association is now working with the insurance sector to create a comprehensive insurtech roadmap for Nigeria.

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