As digital finance reshapes economies and expands financial inclusion, industry leaders argue that technology alone is no longer enough. They contend that trust—built on security, transparency and reliability—will ultimately determine whether the next wave of digital innovation delivers sustainable growth and broad-based adoption, writes Nume Ekeghe
For more than two decades, Nigeria’s financial sector has pursued a singular ambition: expanding access to financial services.
From the banking consolidation era of the mid-2000s to the introduction of the Bank Verification Number (BVN), instant payments, agent banking, mobile money, fintech innovation, digital identity and, more recently, artificial intelligence-driven financial services, the country’s financial ecosystem has undergone one of the most remarkable transformations on the African continent.
The numbers underscore that progress. Nigeria today operates one of Africa’s largest digital payments ecosystems, with electronic payment transactions running into over N3 quadrillion annually, billions of instant payment transactions processed every year, and one of the continent’s fastest-growing fintech industries.
Digital channels have become the primary means through which millions of Nigerians save, transfer money, access credit and conduct business.
