Robust Fintech critical for deepening financial inclusion in Nigeria

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Robust Fintech critical for deepening financial inclusion in Nigeria
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Dr Maida made this known in his keynote address at the 2023 edition of the annual Nigeria Information Technology Reporters Association (NITRA) Fintech Forum

, Aminu Maida, has described the Financial Technology industry as a critical driver of financial inclusion of Nigerian citizens living in the underserved and unserved communities across the country.

The EVC stated that Fintech applications such as robo-advisors, payment apps, peer-to-peer lending apps, investment apps, and crypto apps, among others, create business opportunities for individuals. He also stated that the adoption of these Fintech applications for socioeconomic gains by the youth, who account for 70 per cent of Nigeria’s population, will add value to the economy.

“Therefore, Fintech has the potential to deepen the existing payment and financial system infrastructure to reach un-served and underserved areas and further stimulate economic growth”, Dr Maida said. The NCC boss promised that the Commission will continue to support the Fintech industry in harnessing its enormous potential and will not rest on its oars in its strides to address the challenges in the sector, including improving the provision of secured infrastructure that support the delivery of digital financial services in efficient ways.

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