CBN to monitor, properly harness opportunities in FinTechs – official | The Guardian Nigeria News - Nigeria and World News

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Mr Mustapha Haruna, Director, Banking Supervision Department, CBN, has said that the apex bank would continue to monitor FinTech companies in Nigeria, as an important sector in its operations.

Haruna, represented by Adekunle Adeniji, Assistant Director in the department, stated this at the end of the 31st Finance Correspondents and Business Editors seminar on Thursday, in Enugu.

“So, as we onboard fintechs into financial services, we need to have a proper understanding of the technology companies and what risks they bring; and then we need to effectively manage these threats — threat to consumer data protection, among others. Haruna also said that another reason the apex bank needed to keep an eye on the Fintechs was because of the huge market value in its operations globally.

 

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