Nigeria, fertile ground for fintech — NCC Executive Vice Chairman

The Executive Vice Chairman of Nigeria Communications Commission (NCC), Dr Aminu Maida disclosed that Nigeria with its youthful population and increasing mobile penetration presents a fertile ground for the financial technology industry (FINTECH) to flourish offering immense potential for financial inclusion, economic growth and social development.

He said this at the launch of a book titled: ‘Digital Economy and the Prospect of Financial Technology in Nigeria’ authored by a prominent expert in digital economy and financial technology, Engineer Dipo Fisho in collaboration with Glorious Vision University (GVU).

Maida, who was represented by the Principal Manager, Engineer Kunle Olorundare described the book as a well-deserved Festschrift in honour of an Industry Expert, Fisho.

He said: “The digital economy is rapidly reshaping every facet of our lives and the Fintech industry is an integral part of this revolution. Nigeria with its youthful population and increasing mobile penetration presents a fertile ground for fintech to flourish offering immense potential for financial inclusion, economic growth and social development.”

He averred that the book is a collection of insightful essays, articles and reports by renowned experts, exploring such crucial themes at a time when Nigeria strives to harness the full potential of its digital economy.

He commended the editors and contributors for their valuable work in compiling the insightful book shape future of digital economy in Nigeria

On his part, Deputy Governor, Financial Service Stability at Central Bank of Nigeria (CBN), Mr Philip Ikeazo said the publication of the topical and consequential book for the financial sector in Nigeria, shows that GVU is committed to cutting-edge research that is relevant to the economic situation in Nigeria and should be lauded.

In his remarks, Engineer Dipo Fisho explained that the book was a compendium of knowledge, which was not just his work, but written with others which made it richer.

He said, “Unity is strength and when there is teamwork it is better. The book speaks to unity in strength, teamwork and collaboration. I thank all the contributors. This monumental work is a testament to the collective efforts and dedication of all those who have contributed to the discourse on the digital economy’s burgeoning landscape of financial technology in Nigeria. I am reminded of the profound impact that collective knowledge and collaboration can have on shaping the trajectory of an entire industry,” he said.

The book which contains 25 chapters are tailored to provide solutions and more insight into the challenges of Fintech in Nigeria. It highlights the transformative impact of fintech and digital payments on Nigeria’s economy, emphasizing the country’s leadership in real-time digital payments, the government’s support for the digital economy, and the potential for further growth and development in the financial technology industry.