CBN, FintechNGR Leaders Chart Path for Responsible Innovation in Nigeria’s Financial System

Leaders of the Fintech Association of Nigeria (FintechNGR) and the Central Bank of Nigeria (CBN) have reaffirmed their commitment to building a stable, inclusive, and innovative financial system that supports both growth and compliance.

At a high-level engagement, Dr. Segun Aina, Chairman of the Board of Trustees of FintechNGR and President of the Africa Fintech Network, highlighted the Fintech Passport initiative, which aims to standardize licensing across Africa and enable cross-border trade. He noted that innovation is already bridging gaps in financial access, but stronger frameworks are needed to maximize its impact.

Dr. Stanley Jacob, President of FintechNGR and CEO of Zest Payments Ltd, . Introduced the work of FintechNGR in uniting industry players and regulators under one umbrella to drive responsible growth.

Representing the role of regulators in innovation, Dr. Jameelah Sharrief-Ayedun, Vice President of FintechNGR, emphasized the Central Bank’s active participation in Nigeria Fintech Week (NFW). She noted that NFW has become a platform where regulation and innovation intersect, creating opportunities for dialogue and collaboration.

On her part, Dr. Rakiya Mohammed, Director at CBN, stressed that the Bank’s primary focus remains on ensuring a stable and inclusive financial system. She explained that while the CBN is committed to supporting product innovation and approvals, there must also be discipline and compliance among fintech operators. “Innovation must be balanced with responsibility,” she said, reaffirming the Bank’s commitment to drive both.

The CBN Governor commended the progress made in the fintech space, acknowledging its rapid development in a short time. He assured stakeholders that the Bank is working on building frameworks that serve everyone, innovators, regulators, and consumers alike. In his words: “All we want to hear from your organization is good news. Drive them in the direction that is good for the country.”

The meeting reflects the growing alignment between regulators and innovators in Nigeria, signaling a future where fintech continues to thrive while strengthening trust, compliance, and financial inclusion.