CBN Sets 5-Point Agenda For Next Stage Of Nigeria’s Fintech Growth

CBN Sets 5-Point Agenda

 

 

OpenLife News reports that the Central Bank of Nigeria, CBN, has outlined five critical outcomes that must drive the next phase of fintech development in Nigeria to ensure sustainable growth and public trust.

CBN Governor, Mr. Yemi Cardoso, stated this in a goodwill message at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 held in Lagos on Monday. He was represented by Dr. Rakiya Yusuf, Director, Payments System Supervision.

According to Cardoso, Nigeria’s fintech ecosystem must deliver digital financial services that are reliable, secure, fair and accessible.

“Nigerians should be able to transact with confidence, including during periods of high demand,” he said.

“Charges should be clear, complaints resolved promptly and failed transactions addressed without unnecessary hardship to customers.”

He added that cybersecurity and fraud prevention must remain a shared responsibility.

“Institutions must continually invest in secure technology, effective controls and practical customer education,” Cardoso stated.

Representing Dr. Yusuf, Mr. Babatunde Ajiboye, Assistant Director at the CBN, said another key strategy is ensuring open and fair competition.

“Qualified participants must have equal access to essential payment infrastructure,”  said the director.

The apex bank stressed that it cannot achieve these goals alone. It called on banks, fintech companies, mobile money operators, switches, processors, telecom companies, consumer groups and government institutions to play active roles.

Looking ahead, the CBN expressed optimism about Nigeria’s digital financial future.
“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,” the statement read.

The bank said 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.

Cardoso reaffirmed the CBN’s commitment to supporting 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 is welcome, fair competition is essential and public trust must remain at the centre of everything we do.”

The CBN governor commended the Business Journal Media Group for convening the roundtable and urged participants to engage openly and develop practical recommendations that will advance a safer, fairer and more inclusive digital financial ecosystem in Nigeria.

 

The CBN’s 5 Focus Areas for Fintech:
Reliability

Systems must work during peak demand

Security

Strong cybersecurity and fraud prevention

Fairness

Clear charges and prompt complaint resolution

Accessibility

Services for all Nigerians

Open Competition

Equal access to payment infrastructure