How Fintechs will shape Nigeria digital financial growth

Omeiza Bilal

The Central Bank of Nigeria has released a comprehensive assessment of Nigeria’s fintech landscape, outlining the priorities needed to sustain innovation, strengthen system integrity, and support the next phase of digital financial growth.

The report examines the scale and maturity of Nigeria’s fintech ecosystem, highlighting the country’s leadership in real-time payments and the structural factors shaping recent growth.

It positions fintech innovation as a complementary force within the financial system, expanding access, efficiency, and reach, while preserving stability and resilience.

Informed by surveys and extensive stakeholder engagement, the report outlines practical policy directions to improve regulatory coordination, strengthen supervisory capability, and support responsible innovation, including cross-border scale. It underscores interoperability, proportional regulation, and effective execution as critical enablers of sustainable ecosystem development.

This publication forms part of an ongoing series through which the CBN will continue to engage the financial sector, provide clearer regulatory direction, and support more coordinated execution.

It is intended to serve as a shared reference point for banks, fintech firms, regulators, infrastructure providers, investors, and partners as Nigeria consolidates its position within the regional and global fintech landscape.