The Central Bank of Nigeria (CBN) has identified five key priorities that should guide the next phase of fintech development in the country to ensure sustainable growth and a more inclusive digital financial ecosystem.
Speaking through the Director of Payments System Supervision, Dr Rakiya Yusuf, at the third Business Journal Fintech and Financial Inclusion Roundtable 2026 held in Lagos on Friday, CBN Governor Dr Yemi Cardoso said Nigeria’s fintech ecosystem must deliver digital financial services that are reliable, secure, fair and accessible to all users.
Cardoso said Nigerians should be able to conduct digital transactions with confidence, including during periods of high demand. He stressed that service charges should be transparent, customer complaints resolved promptly and failed transactions addressed without causing unnecessary hardship.
He also emphasised the importance of strengthening cybersecurity and fraud prevention, noting that financial institutions must continue to invest in secure technology, robust internal controls and effective customer education.
According to the CBN Governor, maintaining an open and competitive payments ecosystem is another key priority. He said qualified participants should have equal access to essential payment infrastructure to promote innovation and fair competition across the industry.
Cardoso noted that achieving these objectives would require collaboration among stakeholders, including banks, fintech companies, mobile money operators, payment switches and processors, telecommunications firms, consumer groups and government institutions.
Looking ahead, he expressed confidence in the future of Nigeria’s digital financial ecosystem, citing the country’s youthful and entrepreneurial population, increasing digital connectivity and the innovative capacity of its financial institutions.
He said that with appropriate regulation, responsible business conduct and sustained investment, Nigeria could develop a digital financial system that would serve as a model for Africa and the wider world.
The CBN Governor reaffirmed the apex bank’s commitment to supporting innovation that addresses real economic challenges, expands financial inclusion and strengthens the economy.
He added that the Bank would continue to take regulatory action where poor market conduct, excessive market concentration, weak governance or operational risks threaten consumer protection or the stability of the financial system.
“Our message is simple: innovation is welcome, fair competition is essential and public trust must remain at the centre of everything we do,” Cardoso said.
He also commended the Business Journal Media Group for organising the roundtable and encouraged participants to engage in constructive discussions and develop practical recommendations to advance a safer, fairer and more inclusive digital financial ecosystem in Nigeria.
