The Central Bank of Nigeria, CBN, says the next phase of fintech development in the country must focus on five key outcomes to ensure sustainable growth.
CBN Governor, Mr. Yemi Cardoso, stated this in a goodwill message at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 in Lagos. He was represented by Dr. Rakiya Yusuf, Director, Payments System Supervision.
Cardoso said 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. 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, added that competition must remain open and fair, with qualified participants having equal access to essential payment infrastructure.
The apex bank said it cannot achieve these goals alone, noting that banks, fintech companies, mobile money operators, switches, processors, telecom companies, consumer groups and government institutions all have critical roles to play.
Looking ahead, the CBN said Nigeria’s digital financial ecosystem has strong prospects.
“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.”
Cardoso pledged that the CBN would 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. Our message is simple: innovation welcome, fair competition is essential and public trust must remain at the centre of everything we do.”
He commended Business Journal Media Group for organising the roundtable and urged participants to develop practical recommendations that will advance a safer, fairer and more inclusive digital financial ecosystem in Nigeria.
