The Central Bank of Nigeria (CBN) is ready to launch a landmark fintech survey report on Monday, February 2, offering uncommon perception into the character and depth of the apex bank’s engagement with Nigeria’s fast-growing sector.
BusinessTimes understands the report relies on a nationwide survey of fintech operators, complemented by stakeholder workshops and coverage roundtables held in 2025.
Folks accustomed to the report level to a extra structured, ongoing partnership between the CBN and fintechs as digital finance expands, although it stops in need of formal coverage modifications.
It indicators a shift from viewing fintech as a disruptive drive to recognising its foundational position in funds, lending, knowledge, and identification programs throughout the financial system.
What they’re saying
CBN Governor Yemi Cardoso referenced the upcoming report throughout his remarks on the Bankers’ Committee assembly, reinforcing the apex bank’s dedication to accountable innovation.
- “The Strategic Fintech Dialogue on the IMF Fall Conferences introduced collectively policymakers, innovators and buyers, culminating in a consultative report that can information Nigeria’s subsequent part of fintech evolution.”
- “As digital belongings, tokenisation and stablecoins grow to be crucial matters for central banks worldwide, our stance stays clear: we are going to lead thoughtfully, with self-discipline and readability of objective. Innovation should proceed responsibly, anchored in client safety and monetary stability.”
The report’s insights stem from stakeholder surveys, closed-door workshops, and roundtables with fintech operators.
- Respondents famous widespread use of AI in fraud detection and credit score scoring.
- Actual-time funds infrastructure is seen as a nationwide power and international mannequin.
- Fintech corporations strongly assist regulatory passporting to allow compliant cross-border enlargement.
- Precisely half of the respondents describe the regulatory atmosphere as enabling, whereas the opposite half see it as restrictive as a result of licensing delays and coverage ambiguity.
This divergence reveals stress between innovation and oversight, with fintech leaders calling for clearer guidelines and sooner approvals.
Stand up to hurry
Nigeria’s fintech rise has been pushed by cell adoption, gaps in conventional banking, and strong real-time funds.
- Almost 11 billion transactions have been processed by way of instantaneous fee rails in 2024.
- Over 12 million contactless fee playing cards are actually energetic in Nigeria.
- Greater than 40 fintech corporations are testing options by means of the CBN’s regulatory sandbox.
- Current speeches by Cardoso verify that fintech is not seen as peripheral, however as nationwide infrastructure requiring resilience and accountable scaling.
The CBN additionally not too long ago introduced it has upgraded the licences of chosen FinTechs and Microfinance Banks (MFBs) with nationwide operations to nationwide standing.
Extra insights
One of many report’s key revelations is the monetary vulnerability of Nigerian fintechs, regardless of their significance to the financial system.
- The report is anticipated to state that many operators discover it tough to lift capital domestically as a result of macroeconomic instability and forex threat.
- It should additionally level to the lowered international funding, which has intensified the funding hole.
- Offshore funding stays dominant, exposing corporations to international volatility.
- Fintechs additionally assist the creation of blended finance, credit score ensures, and secondary markets to mobilise long-term capital.
BusinessTimes understands the CBN doesn’t plan to fund fintechs straight however might act as a convener for capital-market and development-finance partnerships.
What it is best to know
The CBN’s 2026 regulatory priorities align carefully with the themes highlighted within the forthcoming report.
- Assist fintech enlargement whereas defending shoppers and enhancing cybersecurity.
- Promote knowledge governance, stricter licensing, and clearer digital-asset tips.
- Develop contactless funds and enhance digital monetary rails.
- Deepen partnerships with native and worldwide stakeholders to boost regulatory management.
This report is anticipated to affect the regulatory route for Nigeria’s fintech sector, particularly because the CBN sharpens its give attention to infrastructure, resilience, and collaboration.
BusinessTimes is monitoring the discharge of the report and can present additional updates as extra particulars grow to be out there.
