The Central Bank of Nigeria (CBN) has listed five critical strategies that financial technology (fintech) operators in the country must adopt in order to boost their performance and improve the contributions of digital technologies on the nation’s economic growth in the years ahead.
The apex bank governor, Mr. Yemi Cardoso, in a goodwill message at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 held in Lagos, maintained that Nigeria’s fintech development must deliver reliable, secure, fair and accessible digital financial services in order to achieve the goals.
Cardoso, who was represented at the forum by an Assistant Director at CBN, Mr. Babatunde Ajiboye, said that Nigerians should be able to transact with confidence, including during periods of high demand.
The banker advocated: “Charges should be clear, complaints resolved promptly and failed transactions addressed without unnecessary hardship to customers. Cybersecurity and fraud prevention must remain a shared responsibility, institutions must continually invest in secure technology, effective controls and practical customer education.”
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According to him, another major strategy the fintechs need to adopt is to ensure that competition must also remain open and fair, with qualified participants having equal access to essential payment infrastructure.”
Cardoso said that the apex bank cannot achieve these strategies alone, hence the need for banks, fintech companies, mobile money operators, switches, processors, telecom companies, consumer groups and government institutions to play their roles to in order to enhance the efficiency of the financial system.
He explained: “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.
“We will also continue to act where market conduct, concentration, weak governance or operational risks threaten customers or the stability of the system. Our message is simple: innovation welcome, fair competition is essential and public trust must remain at the centre of everything we do”, the apex bank chief added.
He lauded the Business Journal Media Group for organising the forum and urged participants to engage openly and come up with recommendations that would support a safer, fairer and more inclusive digital financial ecosystem in the country.
