• About
  • Advertise
  • Careers
  • Contact Us
Friday, June 27, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Home Economy Fintech

FINTECH: Moniepoint, Others Emphasize Need to Balance Innovation with Regulation 

Writer: Dean Wolson, general manager – Infrastructure Solutions Group, Lenovo, Southern Africa

by Staff Writer
August 12, 2024
in Fintech
0
Need for innovation by Moniepoint at ICTEL
Panelists at the 10th edition of the LCCI ICTEL Expo on the impact of regulations on fintech operations and innovation.

Panelists at the 10th edition of the LCCI ICTEL Expo on the impact of regulations on fintech operations and innovation.

UBA
Advertisements

At the recently held 10th edition of the Information Communications and Telecommunication Exhibition (ICTEL Expo), industry experts have emphasized the critical need to strike a balance between innovation and regulation in the fintech sector.

The flagship event, organized by the Lagos Chamber of Commerce and Industry (LCCI), with the theme, ‘New Tech: Threats and Opportunities’, brought together key players in the technology and telecommunications and financial services industries.

This year’s edition reflects Nigeria’s present journey towards a self-sustaining and productive digital economy; highlighting the transformative power of emerging technologies, mitigating the associated risks and exploring the endless possibilities they present.

The focus on fintech and telecoms sectors, evaluating their operations, challenges, yearnings and how to improve their services and productivity derives from the critical way in which they are deeply embedded in our lives today.

During a panel discussion on the impact of regulations on fintech operations and innovation, Emmanuel Abadi, partnerships Specialist at Moniepoint Inc, alongside other industry leaders, made a compelling case for increased collaboration across the fintech ecosystem.

Abadi stressed the importance of finding equilibrium between fostering innovation and implementing necessary regulations to ensure stability and consumer protection in the rapidly evolving fintech landscape.

“The regulatory landscape in Nigeria is evolving in a good way especially to the extent that we have hundreds of fintechs that are driving some of the mandates of the CBN today. At Moniepoint, we are very passionate about powering the dreams of millions of business owners and the individuals that they support and we have seen that financial inclusion has grown and thrived on the strength of existing regulation. We understand the imperative of using regulation as the lynchpin for driving stability in the nation’s economy at large, as well as the need to deepen consumer protection by building systems that will increase the public and regulator’s trust in the services that we as fintechs provide. Thankfully, there are channels in place that facilitate information exchange between the regulators and the players, and this has helped us a great deal,” Abadi noted.

Abadi also took the opportunity to showcase Moniepoint’s significant contributions to advancing the government’s socio-economic agenda, as evidenced by the launch of a definitive report around the informal economy, partnerships with the CAC, SMEDAN and Federal Ministry of Industry, Trade and Investment whilst underscoring the potential of fintech solutions to drive positive change in Nigeria’s financial services landscape.

The discussants also called on the need to have targeted guidelines that cater to the nuances and peculiarities of the fintechs and other innovative players, as against the current practice where majority of the rules in place are the same ones developed and applicable to the traditional financial institutions.

They maintained that regular and collaborative engagement between the fintechs and the regulators can fast track the formulation of regulatory guidelines that will be proactive and grow the industry.

The session which was moderated by Hakeem Olajide, CEO, Ascentree Services Ltd also had Ochanya Dan-Ugo, Director /Group Chief Risk Officer, Unified Payments and Seun Folorunso, AGM Projects & Relationships, FintechNGR as co-panelists .

The two-day expo featured a diverse array of activities, including special presentations, masterclasses, product demonstrations, exhibitions, and pitch sessions.

Need for innovation by Moniepoint at ICTEL
Advertisements
MTN ADS
Panelists at the 10th edition of the LCCI ICTEL Expo on the impact of regulations on fintech operations and innovation.

These events provided attendees with valuable insights into the latest trends and developments in the information and communication technology sector. Special guests at the event included President, Lagos Chamber Of Commerce and Industry Mr. Gabriel Idahosa, FCA; Engr Leye Kupoluyi, Deputy President, LCCI; VP and Chairperson, Trade Promotion Board , Abimbola Olashore and Director-General, Chinyere Almona.

The ICTEL Expo, now in its tenth year, continues to serve as a crucial platform for industry stakeholders to exchange ideas, showcase innovations, and discuss the challenges and opportunities facing the ICT and fintech sectors in Nigeria.

As the fintech industry continues to evolve rapidly, the insights shared at this event underscore the importance of ongoing dialogue between innovators, regulators, and other stakeholders to ensure a thriving and responsible fintech ecosystem in Nigeria.

Loading

0Shares
Tags: CACChatGPTChatGPT dailyDALL-EgoogleICTELLCCIMidJourneyMoniePointMoniepoint IncSMEDAN
Staff Writer

Staff Writer

Next Post
NIS  Investigates Traveler

NIS  Investigates Traveler for Destroying Nigerian Passport

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

Stage Zero has just been launched by Vivica Group

A New Kid on the Block Here to Radically Disrupt the Unreliable Residential Power Supply Market

2 years ago
Elon Musk Sues OpenAI, Alleging Breach of Founding Agreement

Elon Musk Drops OpenAI Lawsuit, Focuses Fire on Apple’s AI Integration

1 year ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.