Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, has urged Nigerian fintech leaders to match technology innovation with strong governance and consumer protection.
Cardoso said they must uphold the integrity and trust of the country’s financial system as innovation continues to reshape financial services.
Speaking during a strategic session with fintech CEOs on the sidelines of the 2025 IMF/World Bank Annual Meetings in Washington, Cardoso said the CBN remains firmly committed to fostering innovation, but warned that it must be matched by strong governance, consumer protection, and effective risk management.
“As we embrace new technology, it is our responsibility to uphold the integrity of the financial system — maintaining strong governance, consumer protection, and risk management so that trust in our institutions remains firm,” he said.
Balancing innovation and stability
The session, themed “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion, and Integrity,” brought together fintech founders, investors, regulators, and policy leaders from across the Nigerian financial ecosystem.
Held as a closed-door listening forum, the engagement allowed the CBN to deepen its understanding of industry trends and challenges while exploring policy frameworks that balance innovation with financial stability.
“At the CBN, we are committed to creating an environment where new ideas can flourish under prudent oversight, and where inclusion is at the heart of our endeavours,” Cardoso stated.
He stressed that collaboration and open dialogue between the CBN and fintech stakeholders are crucial to shaping policies that support sustainable growth and protect consumers.
Key focus areas for policy alignment
According to a statement on CBN’s X handle, discussions at the session centred around five priority themes:
- Innovation and responsible growth
- Infrastructure and interoperability
- Legal and policy enablement
- Compliance and financial integrity
Market confidence and sustainable capital flows
The statement added that stakeholders agreed that a balanced regulatory environment — one that enables innovation while safeguarding market confidence — will be key to advancing Nigeria’s fintech potential.
The forum concluded with a joint commitment by the CBN and fintech leaders to sustain continuous engagement, aligning regulatory reforms with Nigeria’s broader financial innovation agenda.
More insight
- In a separate meeting, Cardoso assured foreign investors that Nigeria remains committed to stabilizing its financial system and fostering a more conducive investment climate.
- He emphasized that the rise in external reserves signals improved resilience and reflects the steady rebuilding of trust in Nigeria’s economic model.
- Cardoso reiterated that the coordinated approach between fiscal and monetary authorities is positioning Nigeria as one of Africa’s most attractive destinations for long-term investment.
