Nigeria committed to unlocking Africa’s $3 trn economy with FinTechs –Inuwa

*Kashifu Inuwa Abdullahi, CCIE, Director-General, National Information Technology Development Agency, reiterates the Nigerian Government’s commitment to deliberate policies, programmes and initiatives to unlock Africa’s $3 trillion economy through Financial Technologies (FinTechs)

Isola Moses | ConsumerConnect

The Nigerian Government through the National Information Technology Development Agency (NITDA) has restated its commitment to formulating deliberate policies, programmes and initiatives, towards unlocking Africa’s $3 trillion economy through Financial Technologies (FinTechs).

NITDA affirmed some of the country’s policy initiatives on this direction include the government’s cashless policy, Nigeria Startup Act, as well as innovation and talent development programmes.

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ConsumerConnect reports Malam Kashifu Inuwa Abdullahi, CCIE, Director-General of the National Information Technology Development Agency (NITDA), stated this while speaking on a high-level panel, where he shared insights on unlocking Africa’s $3 trillion economy through Financial Technologies (FinTechs) recently.

NITDA noted the event was part of Malam Inuwa’s engagement at the recent Money20/20 Middle East FinTech Summit, held in Riyadh, Saudi Arabia.

The agency disclosed the session attracted global industry leaders to discuss how innovation is “breaking borders, enabling cross-border liquidity, and scaling solutions for MSMEs, remittances, and institutional flows.”

Inuwa highlighted Nigeria’s deliberate policies and programmes, including the cashless policy, the Nigeria Startup Act, and NITDA’s innovation and talent development initiatives.

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He also explained that these interventions have enabled Nigeria to nurture five of Africa’s eight unicorns.

The Director-General of NITDA said such interventions had solidified the country’s role as the African continent’s “FinTech powerhouse and model for ecosystem” development.

Inuwa equally restated NITDA’s commitment to creating an enabling environment for startups, harmonising regional regulations, and strengthening Public-Private Partnerships (PPPs).

Underscoring the strategic importance of the country’s contribution to building an inclusive FinTech ecosystem on the continent, Inuwa asserted that “Nigeria will continue working with partners across Africa to deepen cross-border payment systems, and unlock inclusive and sustainable economic growth.”

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