CBN Unveils Fintech Report: Nigeria Eyes Sustainable Digital Growth
Oru Leonard
The Central Bank of Nigeria (CBN), has released its inaugural Fintech Report, “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion and Integrity,” highlighting Nigeria’s leadership in real-time payments and outlining priorities for sustainable digital financial growth. The report positions fintech innovation as a complementary force within the financial system, expanding access, efficiency, and reach while preserving stability and resilience.
It revealed high time payment leadership as it shows that Nigeria processed nearly 11 billion transactions through the NIBSS Instant Payments platform in 2024, solidifying its position among global leaders in real-time payments.
It is reported that intech firms drive over 70% of electronic payment transactions, leveraging rapid adoption of real-time payments, agency banking, mobile wallets, and digital lending platforms.
In addition, the report emphasizes interoperability, proportional regulation, and effective execution as critical enablers of sustainable ecosystem development.
According to CBN the real time publication forms part of an ongoing series through which the apex CBN will continue to engage the financial sector, provide clearer regulatory direction, and support more coordinated execution. It is intended to serve as a shared reference point for banks, fintech firms, regulators, infrastructure providers, investors, and partners as Nigeria consolidates its position within the regional and global fintech landscape.
