The Central Bank of Nigeria (CBN) says the next stage of fintech development in Nigeria must focus on five important outcomes to achieve sustainable growth of the initiative.
Dr. Yemi Cardoso, Governor of the CBN, said in a goodwill message at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 in Lagos that Nigeria’s fintech development must deliver digital financial services that are reliable, secure, fair and accessible.
Cardoso, who was represented by Dr. Rakiya Yusuf, Director, Payments System Supervision, added that Nigerians should be able to transact with confidence, including during periods of high demand.
“Charges should be clear, complaints resolved promptly and failed transactions addressed without unnecessary hardship to customers,” he said. “Cybersecurity and fraud prevention must remain a shared responsibility; institutions must continually invest in secure technology, effective controls and practical customer education.”
Mr. Babatunde Ajiboye, Assistant Director at CBN, who stood in for Yusuf, said another major strategy is to ensure that competition remains open and fair, with qualified participants having equal access to essential payment infrastructure.
The apex bank said it cannot achieve these strategies alone, noting that banks, fintech companies, mobile money operators, switches, processors, telecom companies, consumer groups and government institutions all have important roles to play in realising the outcomes.
Looking ahead, the CBN said: “The future of Nigeria’s digital financial ecosystem is promising. Our population is young, entrepreneurial and increasingly connected. Our financial institutions have demonstrated a strong capacity for innovation. With appropriate regulation, responsible conduct and sustained investment, Nigeria can build a digital financial system that serves as a model for Africa and the wider world.”
The CBN governor promised that the apex bank will continue to support innovation that solves real problems, expands access and strengthens the economy.
“We will also continue to act where market conduct, concentration, weak governance or operational risks threaten customers or the stability of the system,” he said. “Our message is simple: innovation welcome, fair competition is essential and public trust must remain at the centre of everything we do.”
He commended the Business Journal Media Group for organising the Roundtable and encouraged participants to engage openly and develop practical recommendations that will advance a safer, fairer and more inclusive digital financial ecosystem in Nigeria.