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By Chinwendu Obienyi
The Central Bank of Nigeria (CBN) has published a far-reaching report on the state of Nigeria’s fintech ecosystem, setting out priorities to sustain innovation, protect system integrity and drive the next wave of digital financial growth.
Released in Abuja, the report provides a detailed assessment of the scale and maturity of Nigeria’s fintech market, spotlighting the country’s strong position in real-time payments and the structural factors that have powered recent expansion. It frames fintech as a complementary force within the financial system—one that deepens access, boosts efficiency and widens reach, while still preserving stability and resilience.
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Drawing from surveys and extensive engagement with industry stakeholders, the report outlines practical policy directions aimed at improving regulatory coordination, strengthening supervisory capacity and supporting responsible innovation, including cross-border expansion. It identifies interoperability, proportional regulation and effective execution as key building blocks for a sustainable and competitive fintech ecosystem.
According to the CBN, the publication is part of an ongoing series designed to deepen engagement with the financial sector, clarify regulatory expectations and promote more coordinated implementation across the industry.
The report is intended to serve as a common reference point for banks, fintech companies, regulators, infrastructure providers, investors and development partners, as Nigeria works to consolidate its standing as a leading fintech hub in Africa and an emerging player on the global stage.
