Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged Nigerian fintech leaders to match expertise innovation with robust governance and shopper safety.
Cardoso stated they have to uphold the integrity and belief of the nation’s monetary system as innovation continues to reshape monetary companies.
Talking throughout a strategic session with fintech CEOs on the sidelines of the 2025 IMF/World Bank Annual Conferences in Washington, Cardoso stated the CBN stays firmly dedicated to fostering innovation, however warned that it have to be matched by robust governance, shopper safety, and efficient threat administration.
“As we embrace new expertise, it’s our duty to uphold the integrity of the monetary system — sustaining robust governance, shopper safety, and threat administration in order that belief in our establishments stays agency,” he stated.
Balancing innovation and stability
The session, themed “Shaping the Way forward for Fintech in Nigeria: Innovation, Inclusion, and Integrity,” introduced collectively fintech founders, buyers, regulators, and coverage leaders from throughout the Nigerian monetary ecosystem.
Held as a closed-door listening discussion board, the engagement allowed the CBN to deepen its understanding of business traits and challenges whereas exploring coverage frameworks that steadiness innovation with monetary stability.
“On the CBN, we’re dedicated to creating an surroundings the place new concepts can flourish beneath prudent oversight, and the place inclusion is on the coronary heart of our endeavours,” Cardoso said.
He confused that collaboration and open dialogue between the CBN and fintech stakeholders are essential to shaping insurance policies that assist sustainable development and shield shoppers.
Key focus areas for coverage alignment
Based on a press release on CBN’s X deal with, discussions on the session centred round 5 precedence themes:
- Innovation and accountable development
- Infrastructure and interoperability
- Authorized and coverage enablement
- Compliance and monetary integrity
Market confidence and sustainable capital flows
The assertion added that stakeholders agreed {that a} balanced regulatory surroundings — one that allows innovation whereas safeguarding market confidence — shall be key to advancing Nigeria’s fintech potential.
The discussion board concluded with a joint dedication by the CBN and fintech leaders to maintain steady engagement, aligning regulatory reforms with Nigeria’s broader monetary innovation agenda.
Extra perception
- In a separate assembly, Cardoso assured overseas buyers that Nigeria stays dedicated to stabilizing its monetary system and fostering a extra conducive funding local weather.
- He emphasised that the rise in exterior reserves alerts improved resilience and displays the regular rebuilding of belief in Nigeria’s financial mannequin.
- Cardoso reiterated that the coordinated strategy between fiscal and financial authorities is positioning Nigeria as considered one of Africa’s most tasty locations for long-term funding.
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