L-R: Dr. Olayinka Olutola, Director General/CEO, Association of Enterprise Risk Management Professionals; Maureen Chigbo, President, Guild of Corporate Online Publishers; Mr. Paul Ehiagbonare, Chief Digital Officer, Accion Microfinance Bank Ltd; Prince Cookey, Publisher/Editor-in-Chief, Business Journal; Mr. Afeez Ramoni, Head, of Data and Innovation and representative of Chairman, NGX Group; Mrs. Bukola Ifemade, former Chairperson, Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers and Dr. Jeff Duru, Managing Director/CEO, Universal Insurance Plc during the 2nd Business Journal Fintech & Financial Inclusion Roundtable ’25, on the theme, ‘Fintech & Financial Inclusion: The Opportunities & Challenges for Nigeria’ held in Lagos on Friday.Stakeholders at the 2nd Business Journal Fintech & Financial Roundtable 2025 have urged stronger collaboration between regulators and operators to foster sustainable growth in Nigeria’s fintech sector and advance financial inclusion.
Dr. Umaru Kwairanga, Group Chairman of the Nigerian Exchange Group (NGX) and Chairman of the event, highlighted Nigeria’s emergence as one of Africa’s most dynamic fintech ecosystems over the past decade. He noted that mobile payments, digital lending platforms, and wealth management applications have transformed access to financial services.
“At the Nigerian Exchange Group, we view fintech not as a disruption but as an opportunity. Our mission is to democratise investment access and deepen capital market participation,” Kwairanga said. He added that NGX has supported fintech integration through API-driven market data solutions, regulatory sandboxes, and digital trading applications, ensuring that financial inclusion in the capital market becomes tangible rather than aspirational.
During the panel discussion, participants emphasized the need for policy harmonization among regulators including the Central Bank of Nigeria (CBN), Securities & Exchange Commission (SEC), National Identity Management Commission (NIMC), National Insurance Commission (NAICOM), and the Nigerian Deposit Insurance Corporation (NDIC) to build public confidence and mitigate operational risks.
Dr. Olayinka Odutola, CEO of the Association of Enterprise Risk Management Professionals (AERMP), praised Nigeria’s progress in fintech and financial inclusion but warned that risks such as cyber breaches and identity fraud remain significant. She called for regulatory coordination and information sharing, noting that data privacy and ethical hacking are still underappreciated.
Dr. Jeff Duru, CEO of Universal Insurance Plc, highlighted fintech and insurtech as key drivers for expanding insurance coverage, particularly in underserved regions. He stressed that collaboration is essential for translating financial inclusion goals into reality, and that speed and efficiency in service delivery foster trust in the system.
Similarly, Mrs. Bukola Ifemade, former Chair of the Lagos Area Committee of the Nigerian Council of Registered Insurance Brokers (NCRIB), reaffirmed the Council’s commitment to increasing insurance penetration through fintech solutions.
Ms. Maureen Chigbo, President of the Guild of Corporate Online Publishers (GOCOP), emphasized the role of credible communication in building trust and addressing misinformation in the fintech space. She also highlighted the potential of fintech to support human capital development through financial literacy programs and training initiatives.
The roundtable concluded with a shared call for strengthened collaboration, regulatory alignment, and public-private partnerships to ensure that fintech continues to drive economic growth and financial inclusion across Nigeria.
