Central Bank of Nigeria Reports 70% Growth in Nigerian Fintech Sector in 2025

The Central Bank of Nigeria reported a significant 70% growth in Nigeria's fintech sector in 2025, positioning the country as a leading digital financial hub in Africa. Governor Olayemi Cardoso highlighted the sector's advancements in innovation and inclusion.

However, challenges such as rising compliance costs, slow regulatory approvals, and technical limitations hinder further progress. The report identified poor interoperability, fragmented API standards, and a lack of robust credit histories as key barriers to scaling financial services.

The apex bank outlined policies to balance financial innovation and stability, including real-time fraud intelligence sharing and regulatory passport facilitation for cross-border expansion within Africa.