Speaking at the National GovTech Policy Roundtable 2026 held at the National Assembly Library Trust Fund Complex in Abuja, during the Private Sector Panel session themed “Building the Digital Backbone of Government: Innovation, Investment and Global Expertise for Sustainable Governance,” Mr. Atanda drew attention to the foundational gaps that continue to shape Nigeria’s digital transformation journey.

“There remain far too many silos. The question we must ask is this: who today serves as the custodian of a unified architecture for redefining how technology serves both government and citizens? Where, indeed, is the national architecture?”

As a country, we do not yet appear to have an aggregated or cohesive view of how technology can be deployed to drive the scale of transformation we seek.”

His remarks framed the roundtable’s broader objective of translating political will into a practical blueprint for “Digital First Governance”, as one that must begin with a clearly defined and nationally coordinated architecture.

In his opening remarks, Benjamin Kalu, the deputy speaker of the House of Representatives and Chief Convener of the event, underscored the need to anchor digital transformation on citizen outcomes.

“The theme of this round table – digital first governance – is a strategic posture. It demands that we stop treating technology as an afterthought. The measure of digital first governance will not be found in the servers we procure, the applications that we launch or the policies that we gazette. It will be found in the experience of the Nigerian citizen in whether government is responsive, whether government is accessible, whether government is trustworthy and whether government is just,” he noted.

Highlighting the importance of legislative engagement in shaping this direction, Mr Atanda noted that meaningful reform depends on a comprehensive understanding of the ecosystem.

“It is not all doom and gloom. We are aware of many of the challenges, and that is precisely why I am encouraged that this conversation is taking place on the platform of the legislature. Without a comprehensive understanding of the broader landscape, it becomes exceedingly difficult to craft effective and forward-looking legislation.”

Mr. Atanda also underscored the urgency of rethinking procurement as a strategic lever for transformation, particularly within the context of national capacity and self-determination.

“There ought to be a more aggregated approach to technology procurement, one that draws directly from the source. The country possesses both the human capital and the institutional capacity required at its core. If we do not think for ourselves, no one else will. There is a pressing need to rethink a Nigeria-first approach to technology procurement.

The relevant executive orders already exist, as does the Nigerian Content Act. The question now is: when will we fully integrate these into how government reimagines service delivery, engagement, and execution?”

Convened by GovTech Africa in partnership with the Office of the Deputy Speaker, House of Representatives, and the National Assembly Library Trust Fund, the roundtable brought together stakeholders across sectors to align on actionable pathways for digital governance reform.

As Nigeria advances discussions around the E-Governance Bill and broader digital transformation efforts, the emphasis on national architecture, legislative clarity, and coordinated execution signals a critical shift towards a more structured and sustainable GovTech ecosystem.

Speaking during a high-level panel session at the event hosted by the Lagos Chamber of Commerce and Industry (LCCI), Mr. Atanda delivered an intervention on the structural gaps slowing SME growth in Nigeria and the urgent need for a coordinated national approach to digital enablement.

With the session focused on harnessing financial technology to unlock Africa’s development potential, Mr. Atanda made a case for national alignment in policy, technology, and infrastructure.

“The real conversation isn’t about how many platforms we have. It’s about whether Nigeria has a national strategy for SMEs in the digital age,” he stated. “Once that is defined, the role of regulators, fintechs, logistics players, and government becomes clearer and more impactful.”

He highlighted how fintech platforms are helping SMEs transcend traditional barriers. From enabling cross-border payments to improving digital visibility, technology has expanded opportunities for small businesses that previously operated in geographic isolation.

“A business in Aba can now serve a customer in Accra, because payment rails make it possible. That’s real change,” he noted.

Now in its 11th edition, ICTEL EXPO has become a flagship platform for dissecting Africa’s innovation landscape, and this year’s theme, “Leveraging Technology for Innovation and Development in Africa,” brought a fresh urgency to long-standing conversations.

As SMEs continue to contribute over 48% to Nigeria’s GDP and employ more than 80% of the workforce, stakeholders gathered to explore how digital infrastructure, fintech innovation, and regulatory reform can accelerate this segment’s transformation.

The 2025 event attracted hundreds of participants across sectors, reaffirming the role of technology as the engine of inclusive and sustainable economic development across the continent.

Mr. Atanda also cautioned that the progress made in digital innovation and financial inclusion cannot be sustained in a fragmented ecosystem.

While there have been notable advances, such as increased digital payments, tech-driven services, and broader access to financial tools, these gains risk being undermined by the lack of coordination among key institutions.

“We’re seeing duplication where we need direction. Innovation must be guided by a shared vision that links digital solutions to national economic goals,” Mr. Atanda warned.

He welcomed recent steps by the CBN, particularly the establishment of a dedicated Payment Supervision Department, as a positive move towards greater clarity in the fintech landscape.

This, he said, should be accompanied by collaborative policy development that integrates technology, finance, and trade.

Mr. Atanda further stressed the need to embed logistics into the SME growth equation.

“Technology can connect buyers and sellers instantly, but if a product takes a week to arrive or never does, we haven’t solved anything. A tech-driven logistics backbone is as vital as payment platforms.”

Touching on access to credit, he explained how integrated data systems can transform small businesses’ financial profiles.

“Today, many SMEs serve the same customers in isolation. Imagine if we could consolidate these transactions into one data layer, we’d reveal true business activity and unlock credit access at scale,” he said.

He also spotlighted open banking as a potential game-changer for SME financing, arguing that shared access to payment data, customer patterns, and transaction volumes can allow both banks and fintechs to lend more confidently and competitively to small businesses.

To close, Mr. Atanda urged all stakeholders: government, private sector, regulators, and development partners, to convert conversations into measurable progress.

“If by the next conference we cannot point to at least one major milestone from these discussions, then we would have failed the SMEs that we claim to serve. The future demands more than talking; it requires alignment, execution, and sustained accountability,” he added.

Mr. Atanda’s contribution served as both a challenge and a roadmap: that the success of Nigeria’s digital economy lies not in isolated innovation but in collective intent.

His call reinforced a central truth: that the potential of Nigeria’s SMEs can only be fully realised when technology, regulation, and national interest move in deliberate coordination.

Beyond the participation in the panel discussion, Remita also featured prominently as an exhibitor, demonstrating its strength as a full-stack financial ecosystem that powers growth and operational excellence for organizations of all sizes.

Its showcase carried a clear message of ‘empowering business growth one payment at a time’, while extending an open invitation to businesses seeking to take charge of their payments and collections.

The exhibition reflected Remiita’s role as the bridge between technology and tangible business outcomes, reinforcing its reputation as a strategic partner for SMEs, corporates, banks, and fintechs seeking scalable financial infrastructure and transformative growth within Nigeria’s evolving digital economy.

As AI-powered solutions revolutionise operations, decision-making, and customer engagement, Nigeria’s fintech industry must move beyond just observing to structured adoption.

Embracing AI strategically will not only enhance operational effectiveness, but also expand access to financial services, ensuring a more inclusive and resilient digital economy.

Nigeria’s AI market is projected to reach USD $434.4 million by 2026, growing at a staggering 44.2% compound annual growth rate (CAGR), organisations must therefore position themselves to harness its transformative potential. For Nigerian fintechs with a long-term vision, the urgency to act has never been greater.

The sector stands at a critical juncture where embracing AI is no longer optional but essential for sustainable growth, innovation, and competitive advantage.

With a legacy of pioneering payment innovations, Remita has been at the forefront of Nigeria’s most transformative payment solutions, setting the benchmark for secure and seamless payment transactions.

As fintech enters the AI-driven era, Remita is once again leading the charge with the launch of its report – Unlocking the Power of AI in Nigeria’s Fintech Sector.

The report serves as an industry blueprint providing actionable insight for AI adoption in financial services, and equipping fintechs with practical steps to harness AI for business growth, operational resilience, and sustainable innovation.

Conceived as a critical resource for fintech leaders, the report provides industry players with insights to future-proof their operations and stay ahead of evolving global trends.

Nigeria’s fintech sector is expanding rapidly, commanding 52% of Africa’s total fintech funding and housing five of the continent’s nine unicorns as at 2024.

According to industry data, the sector has played a significant role in doubling financial inclusion rates from 32% in 2012 to 64% in 2024 – a 100% increase in financial inclusion within a decade.

This momentum is underscored by Nigeria’s surging digital transaction volume, which grew by 16.7% between 2023 and 2024, reaching over 11.2 billion transactions valued at $713 billion (₦1.07 quadrillion) in 2024 alone.  AI is setting the stage for more multi-dimensional growth in the fintech sector, propelling the industry to new heights.

“For years, fintech in Nigeria has been defined by bold ambition and relentless execution, but the next phase of development requires more strategic intelligence, and AI is one of the keys to unlocking what more represents.” said ‘DeRemi Atanda, managing director, Remita. “The leaders of tomorrow will be those who understand how to leverage the capabilities that new technologies like AI bring to the fore. The question is no longer whether to adopt AI, but how to do so in a way that delivers maximally.” Similarly, as AI becomes central to financial technology, businesses that fail to integrate it into their core operations risk losing relevance in an increasingly digital-first economy.

Artificial intelligence is already proving its worth within the fintech industry by improving user experiences, enhancing operational efficiency, combating fraud, accelerating innovation, reducing time to market, and lowering costs.

The benefits of AI are becoming increasingly evident at Remita, where in-house tests show a 40% improvement in customer experiences, a 50% acceleration in API integration timelines, and a 19% reduction in customer inquiries. This clearly indicates that AI adoption is no longer a futuristic concept but a present necessity for fintechs looking to scale and remain competitive.

The new report from Remita offers a comprehensive guide for fintech firms, regulators, and industry players, outlining key actions necessary for AI adoption.

It provides AI transformation strategies for fintechs drawn from Remita’s AI implementation journey.

The report also details a framework for regulatory collaboration to ensure AI-driven financial services remain ethical, transparent, and secure while providing guidelines for workforce AI-readiness to help teams build the skills and literacy needed to drive AI-powered fintech innovation.

“AI should be a force multiplier – not just an isolated feature set” noted Uchenna Okpagu, Chief AI Officer, Remita. “Fintech firms that embed AI into their operational DNA, to transform security, scalability, and business intelligence, will be the ones to drive the next decade of financial transformation.” In the same vein, deploying AI is not just about having the latest technology and keeping up with trends, it requires carefully structured implementation, risk assessment, and a commitment to responsible innovation.

“Our commitment to AI innovation is not just about business transformation, it is about strengthening Nigeria’s position as Africa’s fintech powerhouse,” Atanda stated. “Apart from the general insights shared, this report provides some insight into how we have leveraged AI over the years and reinforces our position as a thought leader in AI and fintech innovation. With the right partnerships, policies, and execution, we can all create a Nigeria and indeed Africa where AI-driven financial services are accessible, efficient, and built to last.”

As a pioneer in payments and digital finance, Remita is not just adopting AI, it is shaping the standards for AI integration in fintech.

This strategy is part of the company’s vision to remain at the forefront of fintech innovation, driving forward-thinking solutions that empower businesses, governments, and individuals.

The future of fintech will be defined by those who build with intention, execute with precision, and adapt to the realities of an AI-driven world, concludes the report.

Speaking during a panel session at the boys to MEN Foundation’s International Men’s Day Celebration in Lagos, Mr. Atanda joined other business leaders and influential advocates to address the theme, “Positive Role Models.”

The event convened professionals from various industries to explore the profound implications of this issue on individuals, families, and communities.

During the panel, which also featured Ikenna Odike, founder and CEO of Outcess Solutions Nigeria Limited, and Dapo Otunla, Senior Vice President and Chief Corporate Services Officer at IHS Towers, Mr. Atanda emphasised the importance of recognising and addressing this societal challenge.

“The first step is to admit there is a problem,” he stated. “If we don’t recognise the issue, then we’re simply engaging in empty conversations. Today, we face a critical shortage of positive male role models, and unless we take deliberate action, this gap will continue to grow. Each of us here must commit to being part of the solution. It’s not enough to merely describe the problem; we must actively work towards solving it.”

Drawing an insightful analogy, ‘DeRemi Atanda likened the issue to the conservation of endangered species, advocating for intentional efforts to nurture and multiply positive male role models.

“When a species becomes endangered, deliberate steps are taken to repopulate it. The same approach applies here. We need to identify the few positive role models we have and create a structured pipeline for mentorship. This pipeline must be deliberate and strategic, ensuring that we cultivate the values and behaviours we want to see in the next generation,” he said.

Mr. Atanda commended the boys to MEN Foundation for its proactive efforts in addressing the root causes of the scarcity of positive male role models, praising the visionary leadership of Mrs. Ifeoma I. Idigbe, Founder and Executive Vice Chairman of the organization.

“I applaud Mrs. Idigbe and the boys to MEN Foundation for tackling this critical societal issue. If we don’t instill the values we want to see in men while they are still boys, they risk growing up without understanding or embodying those values. Initiatives like this are essential for shaping boys into men who can serve as steadfast beacons of integrity and character in society,” he remarked.

Emphasizing the crucial role of values in building a prosperous society, ‘DeRemi Atanda underscored the importance of intentional efforts to instill the right principles in individuals.

“Values form the bedrock of a thriving society, and their cultivation requires deliberate action. Social engineering is essential-it’s about purposefully shaping behaviours and attitudes to secure a better future. Initiatives like this must identify the values that truly matter and ensure they are deeply embedded in individuals, as strong values are the cornerstone of societal progress,” he asserted.

He emphasized the importance of personal responsibility in embodying and upholding positive values, warning against the consequences of neglecting them.

“Each individual must consciously choose the values they stand for and celebrate-values rooted in what is truly right and meaningful, not dictated by external pressures. Values don’t erode by accident; they are constantly under threat. By standing firm, we safeguard the integrity of our society for future generations. When we abandon our values, we lose our identity. Social engineering can shape societies for better or worse. Choosing hollow or harmful ideals not only damages you but also the community around you. This is why it is vital to intentionally nurture and uphold values that foster growth, resilience, and collective progress,” he concluded.

Mr. Atanda’s words resonated deeply with attendees, serving as a call to action for all stakeholders to contribute to bridging the gap in male leadership and fostering a culture of mentorship and accountability.

His insights reinforced the boys to MEN Foundation’s mission of shaping boys into responsible men who positively influence the communities in which they live.

As Lagos accelerates toward becoming a hub of digital innovation and sustainable financial prosperity, the Eko Revenue Plus Summit 2024 provided a crucial platform for dialogue on unlocking new revenue streams and fostering growth.

Speaking on a panel themed “Unlocking Lagos’ Digital Economy: Strategic Innovation, Effective Regulation, and Sustainable Revenue Growth,” Mr. Atanda shared insights on leveraging innovation and policy to create new economic opportunities for the state.

He joined an esteemed panel that included Olatubosun Alake, commissioner for Science, Innovation, and Technology, Lagos State; Mr. Sam Egube, deputy chief of staff, Lagos State; Mrs. Toyin Anjous-Ademuyiwa, director general, Office of Transformation, Creativity & Innovation, Lagos State; and Mr. Kabiru Abiola, managing director, DigitalentsHUB.

Moderated by Mrs. Bode Abifarin, Founder/CEO of Strata, the session examined Lagos’ digital transformation journey and its implications for sustainable revenue growth.

During the panel, Mr. Atanda applauded Lagos State’s efforts in developing digital public infrastructure and advocated for its liberalisation to enable greater participation from private sector players.

He noted:

“Thankfully, this is a government platform, where the focus is on policies, with a digital outlook. Many policies are already in place; it’s about moving them to the next level.”

“Lagos State has set a strong foundation by promoting digital public infrastructure. However, the next step is clear: liberalising this infrastructure to create nodes for private sector players to innovate and thrive. The government is not an entrepreneur; it participates in the wealth generated by those who run businesses. The key to unlocking Lagos’ revenue potential lies in enabling private innovation while ensuring a robust regulatory framework,” he remarked.

Highlighting Lagos’ trailblazing lender license initiative, Mr. Atanda explained its role in expanding access to credit and fostering transparency.

“Lagos created a system where lenders contribute value back to the state, turning transactions into tools for poverty alleviation. Extending such models across other sectors can unlock immense economic value while improving livelihoods,” he said.

The discussion also spotlighted digital identity and employment initiatives as transformative strategies for Lagos’ economy. Olatubosun Alake emphasised the role of technology in empowering over 400,000 SMEs through initiatives like the Lagos State Employment Trust Fund and partnerships with innovation hubs and accelerators.

“Today, digitisation and SME empowerment are top priorities for Lagos,” Hon. Alake remarked. “Our focus on building a labour market information system and connecting employers with job seekers exemplifies how technology can address unemployment and drive economic growth.”

Mr. Kabiru Abiola emphasised the need for a robust identification system in Lagos State to distinguish between employed and unemployed citizens. He argued that such a system would enable the government to identify specific needs, target interventions effectively, and harness data intelligence to broaden the state’s tax base.

Expanding on this, Mr. Atanda concurred, highlighting the transformative potential of digital identity systems.

“The Lagos ID for everybody provides a basis for insights. The government wants to unlock new revenue streams to improve citizens’ lives, and the easiest way to achieve that is by going digital, gaining insight into data, and creating many more nodes for private sector play,” he added.

Closing the session, Mr. Atanda underscored the importance of collaboration between the public and private sectors. “To truly unlock Lagos’ digital economy, we must create policies that enable seamless private sector participation. Data integration and strategic innovation will position Lagos as a model digital economy in Africa.”

The Nigerian Fintech Week has become Africa’s foremost gathering of fintech innovators, industry leaders, and trailblazers.

It is recognised for driving significant innovations, fostering strategic collaborations, and catalysing transformative advancements within the fintech ecosystem.

Remita’s sponsorship of this prestigious event underscores its unwavering dedication to the development of financial technologies for the empowerment of people, businesses and nations across the African continent.

During the first day of the conference, Remita’s Chief Technology Officer, Mujib Ishola, joined a distinguished panel of experts, including Rodger Werkhoven, Independent Creative Director at OpenAI; Carmelle Cadet, Founder and CEO of EMTECH; and Gbolahan Atoyebi, Head of FSI Sales at MainOne, to discuss “Africa’s Tech in the Age of AI.”

The insightful session delved into the promises and challenges of Artificial Intelligence (AI) within Africa’s unique context.

In his remarks, Ishola expressed concern about the current overreliance on black-box AI models, warning of the risks this poses to the continent.

He observed:

“We’ve been discussing AI in silos for some time, but the real concern lies in our overconsumption of black-box models. While promising, these models often come with unseen biases, as they are trained on data that may not fully reflect our realities. The question is, how can Africa benefit from these technologies if we don’t have the infrastructure to build them ourselves? Without open and honest collaboration, we risk missing out on the transformative potential AI could have for financial inclusion and beyond.”

On Day 2, ‘DeRemi Atanda, managing director of Remita, delivered a keynote address titled “From Financial to Economic Inclusion: The Fintech Ecosystem Connection.”

In his speech, Atanda emphasised the need for fintech players to drive tangible economic growth, not just impressive figures.

He remarked;

“The fintech ecosystem has seen a remarkable 243% growth, yet this has not resulted in GDP per capita growth. The data compels us to reflect on our approach and ensure that fintech’s expansion contributes meaningfully to economic outcomes. Fintech players must ask themselves, what is the reality of our role as catalysts for economic change? It’s no longer enough to generate impressive figures; we must ensure that our innovations drive tangible economic growth.”

‘DeRemi also highlighted the importance of nurturing a robust tech talent pipeline to sustain the industry’s growth and impact, saying:

“Tech talent is the lifeblood of the fintech industry. We must continuously nurture and expand this pipeline, ensuring that these talents create value not only locally but globally.”

Day 3 witnessed the inauguration of new members to the Governing Council of the Fintech Association of Nigeria. ‘DeRemi Atanda was appointed to serve on the council alongside the newly elected president, Dr Stanley Jacob, CEO of Zest Payments Limited.

Reflecting on his new role, Atanda emphasised the importance of collaboration in driving industry growth:

“Being part of the governing council comes with the responsibility of pursuing a collective vision for fintech in Nigeria. By fostering partnerships and ensuring inclusive stakeholder engagement, we aim to add 100,000 new members to the association in the coming year. This will not only spur growth but also further position Nigeria as a leading fintech hub on the continent.”

With decades of industry leadership, Remita continues to play an instrumental role in shaping Nigeria’s fintech landscape.

The company was joined by over 50 other top organisations at the Nigerian Fintech Week, showcasing cutting-edge technologies that are propelling the industry to support Africa’s next growth phase.

Through its ongoing commitment to innovation, Remita remains a driving force in Africa’s financial services sector, consistently setting new standards and contributing to the continent’s economic development.

With a vision to remaining a software institution of reference in Africa, SystemSpecs is taking a proactive approach to inspire, equip, and develop young Nigerians with IT-based knowledge and resources that will drive transformative change in Nigeria and help shape a sustainable world.

The topic of the 2024 essay is “Protecting the Nigerian Child from the Dangers of Online Technology”. The essay will explore the students’ awareness of the vast opportunities for value and wealth creation, while also discussing the challenges digitization can bring. Participating students will be challenged to discuss ways to keep themselves safe from digital threats.

As discussions about social media etiquette, privacy settings, and responsible online behavior become increasingly important, according to Mr. ‘DeRemi Atanda, managing director, Remita Payment Services Limited, children must be taught and given some room to learn and grow from their own choices.

“We understand now more than ever, the importance of empowering children to recognize threats and to address them with their parents and or guardians, while equipping them with the skills to protect themselves” adds Mr. Atanda.

The contest, which will commence on February 20th, 2024, is an opportunity for students to articulate their solutions for Nigeria’s evolving digital landscape.

The CDEC initiative stands as one of SystemSpecs Group’s Corporate Social Responsibility initiatives to power an inclusive and sustainable future for the technology industry in Nigeria.

Mrs. Bukola Adeboye, group head, Corporate Services, SystemSpecs Holdings Limited said: “We believe we have a responsibility to give back to the communities in which we live and work as well as support and foster new learning experiences in education among Nigerian youth. The CDEC is just one example. I’m proud of the work we do at SystemSpecs as well as all the students who have authored several passionate essays in past CDEC editions, showcasing their understanding of innovative tech solutions and further deepening our CSR commitment”,

The first CDEC Essay Competition was held in 2020. Since its inaugural year, there have been over 8,000 submissions from students, with participation growing to about 1,000 schools each year.

This educational initiative reflects the Group’s Corporate Social Responsibility commitment to facilitate capacity development for the ICT industry.

With a strong focus on securing the future of Nigeria, SystemSpecs believes implementing educational ICT initiatives at school level can prepare the next generation of entrepreneurs, business leaders, nation builders and innovators, ensuring they are not left behind in the current wave of ICT for development.

Also speaking on the 2024 competition, Mr. Henry Eguabor, head, Brands and Marketing, SystemSpecs Holdings Limited said: “We are delighted to announce this essay contest for students in Nigeria, as it provides an important opportunity to encourage our young minds to engage with issues of importance to their country. Nigeria has experienced significant technological growth in recent decades. However, much remains to be done. It is essential for us to understand the perspectives of our young future leaders and their attitude towards key developmental challenges”.

According to Mr. Eguabor, the essays will be judged for their originality, clarity of thought, quality of research and relevance to Nigeria’s unique challenges.

Award winners will be announced on May 27, 2024.

SystemSpecs will award prizes to winning students as well as certificates and gifts. Winning essays will be published on the SystemSpecs website and social media platforms.

The conference, centred on the theme; “The Future of Agency Banking: Creating Value for Sustainable Reliance,” provided a platform for industry leaders to explore and shape the trajectory of agency banking in Nigeria.

During his presentation, Mr Atanda stated he envisioned mobile money and bank agents as central to the future of financial services, emphasising their role in digital transformation, trust-building, and the expansion of services. He further underscored the importance of trust, human interaction, and data-driven solutions, positioning agents as key contributors to the evolving landscape of financial services.

“The landscape of digital service distribution will persistently centre around agents. While we are on the path of increasing penetration, agents serve as pivotal locations for contact or interaction with the digital sphere and will continue to flourish. We presently observe a network comprising approximately 1.5 million agents, yet it might surprise you that the market holds potential for over 20 million agents. This signifies a scenario where every individual with access to a digital touchpoint can potentially act as an agent,” he said.

Agency banking is a strategic approach used by financial institutions to expand their reach and provide essential banking services to customers in remote or underserved areas.

This model involves partnering with authorised third-party agents, typically retail outlets or community-based organisations, who act as intermediaries to deliver basic banking services on behalf of the partnering bank.

This banking model has emerged as a transformative force in the Nigerian financial landscape as the country continues to embrace digitalization.

According to data from the CBN, in 2021, the total value of transactions processed through agency banking outlets reached a staggering ₦14.2 trillion ($38.9 billion). This represents a remarkable increase from ₦2.9 trillion ($8.0 billion) in 2018.

While this development holds promise for the economy, Mr Atanda believes that its ongoing success will be contingent upon finding more effective methods of humanising the business model.

“The inherent trust in human connections surpasses any other channel. Hence, in numerous present-day services, the human interface remains an indispensable component. Establishing trust with individuals, regardless of the mode of connection, positions one as the primary contact. These principles are well-founded and substantiated. Digital platforms merely serve as conduits for delivering these services, underscoring the reality and feasibility of this approach,” he remarked.

In his keynote address, Mr Atanda explored the transformative power of data in accelerating digital transformation and driving new economic opportunities. He uncovered how strategic collaboration can unleash valuable insights, drive innovation, and tackle complex challenges, sharing best practices to make informed assessments.

“Data is the cornerstone of Agency 3.0, empowering agents to transcend their current role and become trusted financial advisors, driving responsible borrowing, combating fraud, and facilitating financial inclusion.

By embracing data as an indispensable tool, agents can provide instant credit solutions, streamline processes, and enhance customer experiences, fostering a future where data becomes the lifeblood of economic growth and prosperity.”

Describing the next phase of agency banking as “Agency 3.0,” Mr Atanda noted that agents will remain central to the distribution of digital services, particularly in areas with limited internet penetration or digital literacy.

He further added that “In the era of Agency 3.0, agents will transcend their current role as mere transaction facilitators to become trusted hubs for digital products and services, driving financial inclusion and economic empowerment through their extensive network and deep understanding of customer needs.”

Mr ‘Deremi Atanda is a distinguished business leader and visionary known for his wealth of industry knowledge and expertise.

His progressive mindset and unwavering dedication to collaboration have played a pivotal role in addressing social and economic challenges within the financial technology sector.

Nigeria Fintech Week has earned the reputation of being Africa’s foremost assembly of Fintech pioneers and innovators, dedicated to fostering significant innovations, strategic collaborations, and transformative developments within the ecosystem.

In line with its steadfast commitment to advancing the financial sector, Remita participated in the event as a sponsor and exhibitor, with its Managing Director delivering a keynote address.

During the second day of the Nigeria Fintech Week, ‘Deremi Atanda, the Managing Director of Remita, highlighted the importance of embracing experimentation, fostering a culture of risk tolerance, and viewing failure as a means for rapid learning and innovation in his keynote address titled ‘Fail fast, Learn faster: Embracing failure as a path to success.’

He said, “In our pursuit of innovation, we must understand that success is often paved with failures. Therefore, we must consciously embrace experimentation, liberate ourselves from the constraints of a single framework, and use every setback as a stepping stone to progress.

Remita, once a failed project in 2005, now processes over $50 billion and millions of transactions. Indeed, failure is not a hindrance but a steppingstone to progress.”

As the fintech landscape in Nigeria and worldwide continues to evolve over the coming years, the imperative for innovation, adaptability, and resilience becomes increasingly clear.

According to ‘Deremi, companies aspiring to achieve significant success within the sector must consistently embrace new opportunities, engage in partnerships with traditional sectors, and accept the uncertainties that come with transformation.

“The evolving fintech landscape is characterised by a growing middle class, digital adoption, and the democratisation of financial services. It is an environment ripe for change, where businesses can redefine themselves and find success by adapting to the evolving needs of their customers.” He added.

Representing Mr John Obaro, the Group Managing Director (GMD) of SystemSpecs Holdings, in a fireside chat session titled “Building Resilience: Insights from Executives,” Mr Ademola Igbalajobi, Managing Director of SystemSpecs Technology Services Limited (STSL), stressed the importance of addressing customer challenges and delivering satisfaction as the key drivers of success for startups in the fintech sector.

He noted that “The prevailing emphasis in fintech appears to be on fundraising, often overshadowing the essential steps of achieving customer satisfaction and establishing a strong product-market fit. Drawing from our experience, we advise businesses to prioritise these foundational elements before seeking funding. It is imperative to lay solid product groundwork and dedicate concerted efforts to enhance its quality before venturing into discussions with prospective investors.”

Likewise, Mr Tokunbo Omonubi, Head of Products at Remita, shared valuable insights during a panel session that centred on effective marketing for business growth and expansion.

He emphasised the importance of creating products and services that have a real impact on consumers and stakeholders in the diverse business landscape of today.

Mr. Omonubi stated, “In today’s diverse business environment, it’s crucial to grasp how these enterprises influence consumers. This understanding forms the basis for establishing a harmonious connection between marketing strategies and product development, ultimately leading to products that authentically address customer needs.”

With a three-decade legacy of leadership, Remita has consistently played a pivotal role in shaping and transforming various facets of the financial services value chain.

Its enduring commitment to innovation and excellence has made it a driving force in the industry, setting new standards and contributing to the overall progress of the financial sector.

Remita was joined by other 50 top organisations within the sector to exhibit their cutting-edge technologies, contributing to a vibrant and innovative showcase of the latest advancements in the field.

While advancements in automation and artificial intelligence are radically altering how work gets done and who does it, technology’s larger impact will be in complementing and augmenting human capabilities, not replacing them.

‘Deremi Atanda, Managing Director of Remita Payment Services Limited (RPSL), a leading financial technology firm in Africa and a subsidiary of SystemSpecs Holdings, proposes that organisations will benefit more from communicating their technology decisions to mitigate conflict.

“There are unintended consequences of automation”, 

Deremi says. 

“In a situation where workers don’t know what to expect conflict can arise”. 

He advised therefore that “people along the value chain must know how automation will impact them and this also has to do with internal and external processes”.

He further emphasised the need for collaboration among financial service providers and technology service providers, which he described as the new reality and future of the industry.

He made this call while speaking as a panellist at the 2023 Treasury Leadership Forum organised by Standard Chartered Bank Nigeria Limited, held recently in Lagos.

The panel session themed: ‘Harnessing Technology for More Efficient Treasury Management’ brought together treasury professionals, financial experts, regulators, and technology providers to discuss the latest trends and best practices in treasury management.

The move towards new technologies such as APIs, Artificial Intelligence (AI), machine learning or advanced analytics, big data, blockchain, and cloud computing to drive innovation is enabling rapid experimentation and new product development. However, the key challenge is knowing where to start.

‘Deremi said organisations must have a clear idea of their objectives to ensure that every project sets out to bring value to treasury management, and ultimately improve other areas of the business.

“Not all businesses will be on the same technology maturity level, hence your treasury requirements should be need-specific. Where there is a disparity in your internal capacity versus the supplier capacity, the automation will likely fail. Systems exist everywhere but they are not meant to be used the same way everywhere”.

he said.

“In today’s fast-paced business environment, there is the need to deal with the challenges of automating treasury management. Having a grand clarity of what the objectives are will help analyse the financial environment and manage conflicts,” 

Atanda added.

According to ‘Deremi, the focus should be to implement technology into specific projects with targeted goals such as risk management, cost alleviation, or improved efficiency, and then integrate processes and platforms into a Treasury Management System (TMS).

While advanced automation tools can facilitate real-time financial insights and mitigate risks, ‘Deremi stressed that selecting the right partners and technology to work with will help to minimise operational costs. Furthermore, corporate treasurers must ensure all stakeholders reskill and secure buy-in from other teams in the organisation.

Nigeria is at a unique tipping point where treasurers have an opportunity to influence the treasury solutions of tomorrow. As banking relationships continue to evolve, ‘Deremi said financial and technology service providers must collaborate to leverage next-generation treasury technologies, while proactively engaging clients along the innovation journey.

He said: 

“What represents the next wave of thinking should be systems that make it possible for customers to manage all types of assets even across borders. Also, we must explore how we can co-create and collaborate anywhere to make it easier for customers to become digitally enabled for treasury management.”

In 2012, Remita worked with the Nigerian government to implement Africa’s largest Treasury Single Account (TSA) project. This was on account of its operations in building multi-bank solutions and partnering with several financial institutions.

Speaking on digital assets and what is next, Remita is currently working with the Central Bank of Nigeria on the eNaira, Central Bank Digital Currency (CBDC). “We are building rails that the entire industry will be consuming, and we are building for the banks, retail, and for merchants.”, he said.

‘Deremi Atanda is a renowned business leader and innovator. Known for his extensive industry experience and expertise, his forward-thinking approach and commitment to collaboration have helped to address the social and economic challenges in the financial technology ecosystem. Under his leadership, Remita continues to provide cutting-edge payment solutions to diverse organisations across various sectors.

Leveraging advanced technology, Remita Payment Services Limited is a leading provider of electronic payment solutions in Nigeria and across Africa.

With a commitment to simplifying financial transactions and a comprehensive suite of financial solutions, Remita has helped businesses streamline their operations across the board.