How Nigeria can leverage rise of Fintech for economic progress

Through mobile banking, digital payments, and other innovations, fintech is extending financial services to previously underserved communities, driving financial inclusion and widening economic opportunities.

One example is Quickteller Paypoint, an agency banking platform launched by Interswitch, an IFC partner, that is helping individuals and smaller businesses access financial services. For example, Interswitch is partnering with commercial banks in Nigeria to provide services including management of automated teller machines , acquisition and issuance of Verve cards – a chip debit card, owned by Interswitch Group, and accepted across all payment channels in Nigeria – as well as customizable mobile banking solutions such as USSD banking and mobile wallets that provides convenient, low-cost access to financial services.

The rapid growth of Nigeria’s fintech sector is a positive force for economic development, financial inclusion, and innovation, shaping a more inclusive and digitally empowered economy, with its impact resonating far beyond its borders, and radiating throughout the broader African region and beyond. nigeria-india-to-strenghten-ties-on-defence-cooperationThe Minister of State for Defence, Dr Muhammed Bello Matawalle, has reiterated Nigeria’s commitment to strengthen bilateral ties with the government of India in the area of defence cooperation.

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