#BDFintech2017: Stakeholders explore opportunities for Fintech growth in Nigeria

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Saturday, July 22, 2017 7.00am/Proshare WebTV 

Prospects for the growth and development of the Fintech industry in Nigeria, came to the fore at the BusinessDay 2017 summit on Fintech. The focus on the theme was “Harnessing the power of disruptive innovation in Fintech”. 

It was an opportunity for the key players in the financial services and tech space to discuss ways of utilizing Fintech to transform Nigeria’s economy. 

Giving the opening remarks the Publisher of BusinessDay Newspaper Mr Frank Aigbogun said “Fintech fascinates people because of Capital” and asserted that the technology space is achieving a lot of disruptions in the globe. 

Mr Aigbogun noted that the summit was designed to provide a platform for robust discourse on the growth and development of Fintech in Nigeria. 

In his keynote address the Director for Banking and Payments in the Central Bank of Nigeria Mr Dipo Fatokun assured stakeholders, that the CBN was committed to a balanced approach in regulating Fintech. 

He said presently the Central Bank was creating opportunities for payment solutions, to boost financial inclusion. Mr Fatokun believed Nigeria will achieve transformation by embracing innovation. 

Fatokun also stated that the CBN is working closely with the Fintech players in the payments space, to drive the economy. He identified having a balanced approach in regulation as the major challenge for the CBN. 

Keynote speaker and MD/CEO Mr Uzoma Dozie giving his perspective on Fintech, said it was all about convenience, security and transparency. 

Mr Dozie also stressed that payment was at the heart of fintech, which will thrive in Nigeria through adoption and scale. He called for legislations in the country that will enable the Fintech Industry. 

For Small and Medium Enterprises the Diamond Bank CEO was of the strong view that Fintech was enabling more access to markets, customers and business transformation. 

Dozie who is one of the youngest Bank CEOs in the country, shared that Diamond Bank through “BETA way to save”, “Esusu” and “Diamond Y’ello” as fintech initiatives driven to improve financial services. 

The BusinessDay 2017 Fintech summit featured panel sessions discussing regulations & fintech adoption, investing in knowledge & infrastructural capacity to grow fintech and collaborating to achieve disruptive innovations in Nigeria’s fintech. 

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