The Central Bank of Nigeria (CBN) has outlined five key strategies it says are critical to driving the next phase of fintech growth and building a more secure, inclusive and sustainable digital financial ecosystem in Nigeria.
CBN Governor, Mr. Yemi Cardoso, made this known in a goodwill message delivered at the 3rd Business Journal Fintech & Financial Inclusion Roundtable 2026 in Lagos. He was represented by Dr. Rakiya Yusuf, Director of Payments System Supervision.
According to Cardoso, the future of Nigeria’s fintech sector must be built on digital financial services that are reliable, secure, fair and accessible to all Nigerians.
He said customers should be able to carry out transactions with confidence, even during periods of high demand, while service providers must ensure transparency in charges, quick resolution of complaints and prompt reversal of failed transactions.
“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,” he said.
Representing Dr. Yusuf at the event, Assistant Director of the CBN, Mr. Babatunde Ajiboye, identified another major priority as ensuring fair and open competition across the financial technology sector.
He said qualified participants should have equal access to essential payment infrastructure to encourage innovation and strengthen the digital payments ecosystem.
The apex bank stressed that achieving these objectives requires collaboration among banks, fintech companies, mobile money operators, payment switches, processors, telecommunications companies, consumer groups and government institutions.
Looking ahead, Cardoso expressed confidence in the future of Nigeria’s digital financial ecosystem, citing the country’s youthful population, growing digital connectivity and strong culture of innovation.
“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,” he said.
The CBN governor reaffirmed the bank’s commitment to supporting innovations that solve real problems, expand financial inclusion and strengthen the economy.
He also warned that the apex bank would continue to take regulatory action whenever poor market conduct, weak governance, unfair competition or operational risks threaten customers or the stability of the financial system.
“Our message is simple: innovation is welcome, fair competition is essential and public trust must remain at the centre of everything we do,” Cardoso added.
He commended the Business Journal Media Group for organising the roundtable and encouraged stakeholders to develop practical recommendations that would promote a safer, fairer and more inclusive digital financial ecosystem in Nigeria.
