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    • Welcome to

      FINTECH ASSOCIATION OF NIGERIA

      Our mission is to foster an ecosystem that supports all stakeholders to achieve a thriving and growing Nigerian FinTech industry.
      Learn More      Become a Member
    • What we do

      Since inception, the Association has consistently been interfacing with the regulators such as Central Bank of Nigeria, Security Exchange Commission, National Insurance Commission, and the government at all levels with a view to developing the Fintech ecosystem.
    • Our Vision

      To make Nigeria one of the world’s leading markets for finTech Innovation and Investment.

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    We facilitate

    Since inception, the Association has consistently been interfacing with the regulators such as CBN, SEC, National Insurance Commission, and the government at all levels with a view to developing the Fintech ecosystem.

    More About Us

    FinTech Association of Nigeria (FintechNGR) is a self-regulatory, not-for-profit and non-political organisation incorporated in Nigeria by the Corporate Affairs Commission CAC and a member of the global body Global Fintech Hubs Federation. The Association was established to serve as a platform for the development of the financial technology (“Fintech”) industry in Nigeria and to be a forum for the exchange of ideas and dissemination of information by and between various stakeholders in the Nigerian financial technology services industry.

    Connect

    Connect with stakeholders in the Fintech community locally, regionally and internationally to establish a critical bridge for the Nigerian Fintech ecosystem and ensure that support systems exist for a more conducive operating environment through collaborative efforts.

    Accelerate

    Develop a virile thought-led engagement channel for the Fintech community in Nigeria including research, technical, policy formulation reviews, legal and regulatory information and implementation support that impacts economic development, diversification and deployment of resources which ultimately provides opportunities for the industry and its members.

    Advocate

    Engage with industry players including regulators, legislature, government agencies and NGO’s in policy making to support Fintech innovation and provide feedback to the Fintech community on issues affecting Fintech and related sectors.

    OUR GOVERNING COUNCIL

    The substantive Governing Council of the Association is made up of seasoned professionals
    Learn More

    Meet some of our amazing members

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    Updates from our Newsroom

    Fintech Association of Nigeria, FintechNGR held 2nd Annual General Meeting, Records Milestone Achievements.

    April 20, 2019
    The Fintech Association of Nigeria held its 2nd Annual General Meeting and Social Meet 4.0 on Thursday, April 11th, 2019 proudly hosted by the Nigerian Stock Exchange at the Exchange House, Marina. The event was well attended by key executives and management staff of member institutions and ecosystem stakeholders including Banks, Consulting, Legal, ICT Venture Capitalists and Investment firms, Research Institute and Tertiary Institutions, Professional bodies, core Fintech firms, Startups, financial services providers, students, media houses, Regulators including the Central Bank of Nigeria amongst others. The event witnessed a dole-out of milestones attained by the Association in 2018 which include facilitation of Fintech Adoption Roadmap in the Capital Markets, participation in the CBN FSS 2020 Strategy Retreat, significant membership increase, inauguration of the Africa Fintech Network, partnership and support for the take-off of the UK-Africa Investment Group, an initiative of the UK Government, creation and leadership of the Fintech Sub-Committee of Nigeria Economic Summit Group, NESG amongst others. While welcoming members to the meeting, Dr. Segun Aina, President of the Association told the audience that 2018 was an exciting year for fintech which continue to transform many industries especially the financial services industry in terms of breakthroughs in innovation and investment globally and especially in the African continent. According to him “The expected impact of fintech in Africa’s development was epitomised by IMF’s statement that Fintech could be the critical stepping stone towards a digital economy for Africa” Dr Aina who attributed the success of the Association during the year to the quality, commitment and contributions of members says the Association pursued vigorously its three core objectives of CONNECT, ADVOCATE and ACCELERATE as its impacts are felt across the length and breadth of the Nigerian and African Fintech ecosystem at large. The Vice President of the Association, Ade Bajomo, ED, IT & Operations, Access Bank particularly articulated the focus of the Association on breeding young innovators right from the school days as he said the Association strongly believe the future of the nation rests on its teeming youths properly playing active roles in digitalizing the economy. Wole Oyeniran, Director, Technology, Deloitte, West-Africa, a member of the Governing Council of the Association while informing participants on the future plans of the Association said that in order to consolidate on the Association’s successes, maximize its impacts and value delivery to its diverse members as well project a future, the Association has mapped out an audacious road map to cover the period 2019 to 2021. According to him, the Roadmap is expected to usher in significant changes in membership categories, growth and value offerings while creating other more sustainable revenue sources and strengthening of internal capacity and governance. In his words “ FintechNGR has strategically positioned itself to serve the ecosystem better as well as meeting the enormous expectations that come with the surging growth of the Association while building on the gains of the past two years” Olufemi Awoyemi, Founder & CEO, Proshare and member of the Governing Council of the Association

    Fintech Association of Nigeria Sets the Pace, Partners UNECA to formally Launch Africa Fintech Network

    March 28, 2019
    The Fintech Association of Nigeria having successfully established a model for the establishment of national fintech associations in Africa leads the charge in the formation of Africa Fintech Network that was formally launched at the 52nd Session of United Nation Economic Commission for Africa Conference of African Ministers of Finance, Planning and Economic Development held from 20th to  26th March 2019 at Palmarie Hotel, Marrakech, Morocco. The launch of the Network that was one of the most prominent and well-attended side events at the Conference was co-hosted by Dr. Segun Aina, President, FintechNGR  and had in attendance the Executive Secretary of ECA, Dr Vera Songwe, Ugandan Minister of Finance, Planning & Economic Development, Twamuhabwa Wilson, Former Nigerian Minister for Communications Technology, Dr. Omobola Johnson, representatives of the Africa Development Bank, Dr Uche Olowu, President and Mr Seye Awojobi, the Registrar of Chartered Institutes of Bankers of Nigeria, representatives of Africa Fiintech Network member countries and other notable individuals from across the continent Dr. Vera Songwe while launching the Network alluded to the fact that the objectives of the Network are critical to building the Africa we want and aligns with the Commission’s digitalized Africa goals, as such, she welcome partnership with the Network towards accelerating digitization of the continent. According to her “ Africa Fintech Network holds the key to the digitalized Africa as all nations in the continent must join the Fintech in Africa agenda. Dr Segun Aina, President, Africa Fintech Network, during his remarks said that the network was created to unify fintech regulation across the continent, foster collaboration and shared development at the national levels, support the attainment of continent goals such as Agenda 2063 and African Continental Free Trade Area of AU, Sustainable Development Goal as well as promote indigenous solutions for the peculiar Africa challenges. According to him “African governments and development partners are formulating strategies and policies to create an inclusive financial sector but every country should have its own Fintech Association to coordinate and accelerate the Fintech growth as a strategic driver of government initiatives” According to Dr. Omobola Johnson in her remarks, “The biggest challenge for fintech companies today is regulation and policy, and the fact that many central banks do not innovate and do not understand what it takes to scale and build a technology company” You would recall that the establishment of the Africa Fintech Network was formalized and earlier launched on 4th December 2018 at the maiden edition of the Africa Fintech Festival organized by the FintechNGR and other partners during the opening session of the Festival in Lagos-Nigeria in the presence of delegates from ten African countries and representatives of IMF, UNECA, AFDB, Ecobank Group, Office of the Vice President of Federal Republic of Nigeria and other leading continental and global institutions. The side event ended with the announcement of Uganda as the host of 2019 Africa Fintech Festival in Kampala from 5th to 6th November as the Nigeria Fintech Week would hold a week before the Festival in Lagos from 27th October to 1st November 2019. In

    FintechNGR and Securities & Exchange Commission, SEC, Advances Partnership, Inaugurated Fintech Adoption in the Capital Market Committee

    December 12, 2018
    The Fintech Association of Nigeria, FintechNGR and the Securities & Exchange Commission, SEC formally inaugurated the Fintech Adoption Roadmap in the Capital Market Committee at 2018 3rd Capital Market Committee, CMC meeting held on Thursday, 14th November 2018 at the Federal Palace Hotel, Victoria Island in Lagos. Recall that the CMC at its 2nd meeting in 2018 held on Thursday, 9th August had widely adopted the prayer from the Association in a presentation to set up a Committee that would draw up a roadmap for the adoption of Fintech in the Capital Market. The Acting DG of the Commission, Mary Uduk expressed her satisfaction in inaugurating the committee as a dream come through. She stated that SEC carefully selected the members of the committee based on experience and industry awareness as she affirms her confidence in the future outcomes of the activities of the committee. According to her “ the Fintech Adoption Committee is tasked with providing the guidelines for the regulation and operation of various aspects of Fintech as it affects the Capital Market, such guidelines would also ensure the market activities are technology-driven ” The Association is represented in the Committee by Ade Bajomo, Vice-President, Fintech Association of Nigeria & ED, IT & Operations, Access Bank (Committee Chairman), Olufemi Awoyemi, Member, FintechNGR GovCo & Founder/CEO, Proshare and Seun Folorunso, Administrative Secretary, FintechNGR In the same vein, the Association continues its ecosystem engagement and advocacy as it made a presentation on “Financial Technology and the Banking Industry in Nigeria: Issues, Challenges & Opportunities at National Deposit Insurance Commission 2018 Sensitisation Seminar for Federal High Court Judges held on November 10th at Transcorp Hilton, Abuja. The Association was represented by Demola Igbalajobi, Divisional Head, Remita Products, Services & International Business and Seun Folorunso, Administrative Secretary of the Association.

    FintechNGR organized Social Meet 3.0, Hosted by the Chartered Institute of Bankers of Nigeria, CIBN.

    November 8, 2018
    Fintech Association of Nigeria held it Social Meet 3.0 on Thursday 1st November 2018 hosted by the Chartered Institute of Bankers of Nigeria, CIBN at its state of the art digitally equipped learning Centre situated at Yaba Lagos. In his welcome remarks, the president, CIBN, Dr Uche Olowu expressed his satisfaction at the level of partnership that exists within the ecosystem, he strongly affirmed the belief of the Institute in collaboration with relevant organisations in driving financial inclusion through affordable, accessible and simple technology. He equally stated that the Institute has rejigged its curriculum to create space for the study of certain aspects of Fintech while reiterating the importance of upskilling and retooling of banking personnel to be able to meet up with vast demands of a digitized economy and financial services delivery. According to him “Partnership between banks and fintechs is pivotal to economic growth as it were & could unlock massive opportunities within the economy such as employment generation” The event featured a panel of discussants on Banks & Fintechs: the Issues to explore how the banks and fintechs can collaborate better in driving financial services delivery and creation of shared values among key stakeholders. The chairman of the panel, Adeniyi Akinlusi, President, Mortgage Banking Association of Nigeria stated that regulation that often lags behind innovation must not stifle it as innovation must continue and progress with regulation coming closely. Bolaji Lawal, ED/head, Digital Banking, GTBank mentioned that the scope and nature of the partnership between the banks and fintechs must be clearly defined. According to him “Fintechs must ensure stability and profile management, adequate capacity to deal with expansion and commitment to long-term partnership with the banks”. In his own submission, Salami Abolore, Founder/CEO, Riby stated that resource inclusion, provision of complementary capacity to fintechs, establishment of Fintech focused department in banks headed by a top management staff are key to driving the partnership while fintechs must also ensure speed and compliance while innovating and integrating solutions while Blessing Osio, Managing Partner, ABIT Professional Services Ltd opined that collaboration between banks and fintechs must create enduring indigenous solutions capable of standing the test of time. New members of the Association; First Bank, Nigerian Stock Exchange, Eyowo Integrated Payments Ltd, Africa Prudential Plc, Union Bank, Eagle Global Markets, Standard Platform Global Ltd and Blockchain Nigeria User Group were all inducted into the Association as membership certificates were presented to them. In his closing remarks, Oluseye Awojobi, Registrar & Chief Executive, CIBN stated that the partnership between banks and fintechs must also look the side of telcos to promote an all-inclusive financial services delivery. According to him “every player in the space must ensure regular upskilling of members of staff taking advantage of collaboration that exist within the ecosystem”

    Fintech Association of Nigeria Kicks-off Fintech Learning Series with the Regulators at the Securities & Exchange Commission.

    September 14, 2018
    In pursuit of the Association’s cardinal objective of education and advocacy that would influence the formulation of appropriate regulatory frameworks that support and encourage innovation towards job creation and entrepreneurial growth, the Fintech Association of Nigeria kicks-off its flagship programme – Fintech Learning Series with the Regulators at the Securities & Exchange Commission, Abuja on Wednesday, 12th September 2018 further to the partnership that exists between the two entities. The maiden edition of the programme that took place at the Commission’s head office in Abuja had in attendance all members of staff of the Commission. While welcoming participants, the Acting Director General of the Commission, Ms Mary Uduk re-echoes her believe that adequately trained and skilled manpower is a necessity for adequate policy formulation as she stated that her leadership has embarked on routine knowledge empowerment for the Commission’s staffs on various subject matters of relevance. According to her “ you don’t give what you don’t have and it’s would be impossible to regulate properly anything you do not have adequate knowledge of”. She concluded her remarks as she announced the appointment of Ade Bajomo, Vice President of the Association as the Chairman of the newly constituted Committee on Fintech adoption roadmap for capital markets. You would recall that the Capital Market Committee, CMC at its 2018 2nd CMC meeting held on 9th August 2018 in Lagos adopted the prayer of the Association to set-up a committee on Fintech adoption in the capital markets. The president of the Association, Dr Segun Aina in his opening remarks commended Ms. Mary Uduk for her positive disposition towards adopting Fintech in the capital market especially for giving the Association the privilege of equipping the Commission’s staff with adequate knowledge that would support their personal growth and facilitate better discharge of their duties. He equally mentioned that continuous staff retooling and retraining will keep the Commission in tune with global regulatory best practices. According to him “ the Acting Director General has by hosting the maiden edition of the Fintech Learning Series ushers in a fresh paradigm in the regulatory corridor in the country and has positioned the Commission as forward  thinking and active player in the fourth industrial revolution being catalyzed by technology and digitization” Ade Bajomo, the Vice President of the Association and Executive Director, IT & Operations, Access Bank anchored the session on “Market Impact of the Fintech  Revolution”. He stated that to be an active player in the fourth industrial revolution, entrepreneurial and innovative spirit, hunger for knowledge and adequate infrastructure are basic requirements. He mentioned that innovation attracts investment as fintechs revolution are predicated on ideas, cloud computing, big data and mobile technology. Bajomo further alluded to the fact that innovation is always ahead of regulation as the pace of change is absolutely unstoppable and as such, regulators must follow closely, learn and collaborate to get the best out of the waves of innovation revolutionizing the world. He said the right innovation offers simplicity, speed, durability and convenience as he stated that Fintech