Abuja, Nigeria – President Bola Ahmed Tinubu has reaffirmed his administration’s commitment to fostering a robust financial technology (fintech) sector in Nigeria. He pledged to eliminate barriers hindering business growth and create a more conducive environment for innovation and investment.
The announcement came on Saturday when President Tinubu welcomed a high-profile delegation from Flutterwave and Alami Capital to the State House in Abuja. The meeting aimed to discuss the future of Nigeria’s fintech industry and explore ways to enhance its global competitiveness.
Fintech Leaders Meet President Tinubu
According to a statement released by Bayo Onanuga, Special Adviser to the President on Information and Strategy, the discussion highlighted Nigeria’s readiness to support financial technology companies. Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edun, led the delegation, signaling the government’s strong backing of the sector.
Flutterwave, a leading fintech company founded by young Nigerian entrepreneurs, was represented by CEO Olugbenga Agboola, Co-founder Adeleke Adekoya, and senior executives Oluwabankole Falade and Mitesh Popat. Representing Alami Capital was its CEO, Ms. Oluseun Olufemi-White.
Other key officials in attendance included Dr. Armstrong Ume Takang, Managing Director and Chief Executive of the Ministry of Finance Incorporated (MOFI), and Dr. Inuwa Kashifu Abdullahi, Director General of the National Information Technology Development Agency (NITDA).
Nigeria’s Commitment to a Thriving Fintech Sector
During the meeting, President Tinubu emphasized that Nigeria is open for business and will actively remove obstacles that hinder growth. He reiterated his administration’s resolve to provide a regulatory framework that fosters innovation while ensuring compliance with international financial standards.
“Nigeria is genuinely open to business,” Tinubu said. “As President, I am determined to remove all obstacles so that companies can thrive. Our young entrepreneurs are driving the digital economy, and we must support them in every possible way.”
Flutterwave’s Expanding Global Presence
Founded in Nigeria, Flutterwave has grown into a dominant fintech player, operating in over 30 African countries, including Kenya, Uganda, Ghana, and South Africa. The company also has a presence in the United States and Canada, reinforcing Nigeria’s position as a leader in digital financial services.
CEO Olugbenga Agboola expressed gratitude for the government’s support, stating, “We appreciate President Tinubu’s commitment to the fintech sector. A supportive regulatory environment will encourage innovation and drive economic growth.”
Government’s Vision for Digital Innovation
The Nigerian government recognizes fintech as a key driver of economic development and financial inclusion. By leveraging technology, fintech companies are bridging gaps in traditional banking systems, making financial services accessible to millions of Nigerians.
Dr. Inuwa Kashifu Abdullahi of NITDA emphasized that government agencies are working closely with stakeholders to develop policies that support fintech innovation. “Our goal is to create a business-friendly ecosystem that attracts global investment and encourages homegrown startups to scale rapidly,” he said.
A Future of Opportunities for Fintech in Nigeria
With President Tinubu’s assurance, Nigeria’s fintech landscape is poised for further growth. Industry experts believe that fostering a collaborative relationship between the government and private sector will unlock new opportunities, positioning Nigeria as a fintech powerhouse in Africa.
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The commitment from President Tinubu signals a bright future for fintech companies in Nigeria. With supportive policies and strategic partnerships, the country is set to strengthen its position as a hub for financial technology innovation. As the industry evolves, stakeholders remain optimistic about the potential for sustained economic growth and digital transformation.