But at the Nigeria Fintech Week (NFW) 2025, the country’s most influential fintech gathering, speakers made it known that beyond the data, trust, collaboration, and innovation will define the nation’s digital future.

For the first time in its history, the week-long event is being held simultaneously in Lagos, Enugu, and Port Harcourt, bolstering inclusion as well as national reach, as is aligned with the theme “The Fintech Ecosystem Symphony: Orchestrating Nigeria’s Digital Future.”

This year’s edition is held at the Landmark Event Centre, Victoria Island, Lagos, bringing regulators, innovators, investors, and policymakers under one roof to discuss the fintech sector’s scale and sustainability.

From Association to Movement

Opening the day’s proceedings, Dr Stanley Jacob, president of FintechNGR, described the association’s evolution from a small group of pioneers to a national force building solid grounds for finance.

“When Fintech Nigeria was set up, it wasn’t to sit back and watch,” he said. “It was to drive digital transformation for our financial landscape. We wanted to lead, and today, I can confidently say we are orchestrating that transformation.”

Dr Jacob noted that through its PIE Agenda — Participation, Innovation, and Expansion, FintechNGR has grown into a hub of activity with over 600 institutional members and 62 active volunteers driving impact.

“We are no longer just an association. We are now a movement,” he said.

He explained that the association’s five Communities of Practice — covering innovation, cybersecurity, inclusion, policy, and industry advocacy — now anchor its influence in both local and international fintech conversations. “We have created an ecosystem that doesn’t just respond to change; we drive it.”

Harmony Through Collaboration

Picking up that thread, Dr Jameelah Sharrieff-Ayedun, vice president of FintechNGR and chairperson of Nigeria Fintech Week 2025, noted that fintech’s progress depends on collaboration.

“Our ecosystem requires every instrument — regulators, innovators, investors, and consumers — to play their part,” she said. “This is more than a theme; it is a statement of intent.”

She noted that FintechNGR’s growing visibility in policy discussions is evidence of maturity. “We’re not just a ceremonial presence with regulators. We’re now recognised for our expertise and the value we bring to Nigeria’s financial and technology ecosystem,” she said.

Dr Sharrieff-Ayedun also stressed FintechNGR’s governance reforms, from data protection frameworks to transparency in operations, as part of building credibility. “Do not leave this week without making the deal you came to make. Like a symphony, we must all play in harmony.”

Africa Can Deliver to the World

Dr Segun Aina, chairman of the FintechNGR Board of Trustees and president of the Africa Fintech Network (AFN), lifted the discussion to the continental aspect, affirming that Nigeria’s fintech success is part of a bigger African story.

“Nigeria has four of the nine leading fintechs in Africa, and many more are on the way,” he said. “We are not just participating in the global fintech story, we are shaping it.”

He highlighted key AFN initiatives, including the Africa Fintech Hub, supported by the African Development Bank, and the Fintech Passporting Project, which aims to harmonise regulatory requirements across African countries.

“With standardised frameworks, it will be seamless for fintechs to operate from one African country to another,” he said. “Africa can deliver to the world, not as followers, but as creators.”

Trust as the New Currency

Representing CBN Governor Olayemi Cardoso, Dr Rakiya Opemi Yusuf, director of the Payments System Supervision Department, reiterated the Central Bank’s focus on balanced innovation.

“Like an orchestra, our fintech ecosystem requires harmony between innovation and regulation, inclusion and security,” she said. “Only through such balance can we advance trust and inclusion.”

She cited the ₦384 trillion figure as evidence of the deepening confidence in Nigeria’s financial technology systems. “The Central Bank embraces responsible innovation,” she said. “Compliance and trust are not barriers; they are the foundation of sustainability. When products are built on trust, they endure, and they attract investors.”

In alignment with this, Callistus Obetta, group executive, Technology & Services at First Bank of Nigeria, emphasised that trust is “the bedrock of financial services.”

“In today’s digital world, trust is our real currency,” he said. “AI should not replace human relationships, it should enhance them, allowing people to serve customers with empathy and purpose.”

Policy and People at the Core

Representing Senator Adetokunbo Abiru, Blessing Adeolu-Adediran of CCHub delivered a goodwill message that tied policy, innovation, and human capital together.

“The future of our nation will be shaped by the digital innovations of today,” she said. “This week reminds us that the Nigeria we envision tomorrow will be built by what we choose to do — or fail to do — now.”

She spotlighted the Sail Innovation Lab, a project that has trained over 9,000 young Nigerians in technology skills, as a practical model for inclusive growth.

One Vision, One Symphony

Nigeria’s fintech expansion has reached a point of harmony, between ambition and regulation, innovation and inclusion, policy and people.

Dr Stanley Jacob’s closing words at the Nigeria Fintech Week 2025 captured the spirit of the day: “Our mission continues, our vision remains clear, and our commitment is unwavering. Together, we will orchestrate Nigeria’s digital future.”

The online event attracted key players from the fintech industry, providing valuable insights into the complexities of regulatory compliance.

The fireside chat featured esteemed industry leaders, including Mitchell Elegbe, Group Managing Director/CEO of Interswitch Group, and Ali Hussein Kassim, chairman of the Association of Fintechs in Kenya.

During her opening remarks, Adedoyin Odunfa,, Digital Jewels CEO, expressed her enthusiasm on the collaboration between Digital Jewels and the Africa Fintech Network,

“This partnership with the Africa Fintech Network marks a significant step forward in addressing regulatory challenges. We believe that international standards can help FinTechs comply with ease while fostering a culture of transparency and accountability. The insights shared here today will undoubtedly benefit everyone in the fintech ecosystem.”

The event kicked off with a presentation from Tokunbo Taiwo, Group Executive Director and CTO of Digital Jewels, who mapped out the evolution of fintech, highlighting the sector’s rapid growth drivers, such as financial inclusion initiatives, the shift away from cash transactions, and increased funding for innovation. He also outlined the operational challenges that fintech organizations face and stressed the importance of regulatory compliance as a key driver for growth.

“Fintech in Africa is growing at an unprecedented rate, ranking in the top 10 globally and 3rd in Nigeria. This growth is fueled by a young, urbanizing population, increased digital penetration, and the post-COVID acceleration of digital services,” noted Taiwo. He also emphasized the importance of frameworks like ISO 27001 and PCI-DSS, which allow companies to create a unified compliance system that satisfies both local and international regulatory requirements.

Mitchell Elegbe, Group Managing Director/CEO of Interswitch Group, in his fireside chat with Digital Jewels CEO, reflected on Interswitch’s journey and how strong corporate governance played a pivotal role in the company’s rise to become Africa’s first unicorn. “Back in 2002, we faced significant challenges in gaining trust as a payment company in Nigeria. It was critical for us to be ahead of the curve with compliance and governance to build trust with both customers and regulators. That decision ultimately saved us and allowed us to grow into what we are today,” Elegbe remarked. He also appreciated Digital Jewels for helping Interswitch adopt global best practice standards, which significantly improved their operational efficiency and security.

Ali Hussein Kassim, an entrepreneur and advocate for tech policy and Chairman of the Association of Fintechs in Kenya, shared his perspective and pointed out that Kenya and East Africa, despite being pioneers in mobile money and financial inclusion, still lag behind in adopting global best practices.

“The most interesting tech engagement and evolution will be the meshing of regtech and subtech so that we don’t have these humongous reporting structures every month to policy makers and regulators. It can be real time.” He explained how this technological shift could allow for more agile compliance processes, benefiting both fintech companies and regulators.

In her concluding remarks, Adedoyin Odunfa, emphasized the importance of proactive regulatory compliance in the fintech space for sustainable growth and pervassive impact.

“Ignorance is not an excuse under the law, so it’s crucial that fintechs stay informed and ahead of the regulations they need to comply with. Don’t wait for the regulator to catch up with you. Being ahead of regulation is not just about compliance—it’s about positioning yourself competitively in the market,” She stated.

In addition to the success of this webinar, there is already significant buzz about the second part of the series, which is set to take place next Tuesday, focusing on the East African fintech landscape. This follow-up session promises to address region-specific regulatory concerns while building on the broader strategies covered in the initial webinar.

The finalists were selected from a cohort of 40 highly competitive Fintechs that made it to the semi-final stage of the competition.

This year’s challenge attracted over 1,550 applications from 70 countries in Africa and other global regions.

The finalists will showcase their innovative solutions at the Ecobank Fintech Challenge Grand Finale, scheduled for 27 September 2024, at the Ecobank Pan African Centre in Lomé, Togo.

The event will be streamed live on Ecobank Group’s social media channels, allowing a global audience to participate. Finalists of the challenge will compete for the US$50,000 ultimate prize during this highly anticipated event.

Speaking at the Semi-Final, Jeremy Awori, chief executive officer of Ecobank Group, remarked,

“The finalists in this year’s Ecobank Fintech Challenge have showcased exceptional talent and innovation; and we look forward to welcoming them to the Finale. At Ecobank, we’re committed to collaborating with these business builders to develop products and services that will benefit our customers and contribute to our continent’s progress”.

Showcasing the future of African fintech, here are the exceptional finalists of the 2024 Ecobank Fintech Challenge:

• BuuPass, Kenya
• Daba Finance,Ivory Coast
• EasyEquities, South Africa
• Exuus, Rwanda
• Melanin Kapital Neobank, Kenya
• MiaPay, Togo
• PaySika, Cameroon
• PROBOUTIK, Senegal
• Sawport Video Banking as a Virtual Branch, Nigeria
• Sproutly, Nigeria
• Vaultpay, Democratic Republic of the Congo
• YMO Africa, Guinea

The Ecobank Fintech Challenge, a flagship initiative of the Ecobank Group, organised for seven consecutive years, continues to serve as a premier continental platform for promoting innovation and collaboration between Fintechs and the pan-African Bank’s cross-border markets spanning 35 countries.

The challenge remains a significant event, attracting key players within the fintech ecosystem and beyond.

It provides a unique opportunity for fintech entrepreneurs to address challenges such as reaching scale, navigating an uncertain regulatory environment, and managing scarcity of funding.

In addition to financial rewards, the challenge offers Ecobank’s expertise in diversified market operations and the right solutions to scale across its pan-African footprint and international presence.

Since inception, 60 fintech startups have been inducted into the Ecobank Fintech Fellowship.

The Ecobank Fintech Challenge is designed in partnership with international advisory firm Konfidants and is supported by various partners including Huawei, Proparco, TechCabal, BlueSpace, Afrilabs, Africa Fintech Network, MEST Africa, Naija Startups, Expand In Africa and Founders Africa.

This year’s Grand Finale will bring together fintechs, regulators, investors, financial institutions, global technology companies, tech hubs, entrepreneurs, and industry experts.

Ecobank invites all key stakeholders within the Fintech ecosystem, and members of the general public to register for the Grand Finale via this link.