Nigeria's Economic Growth Boosted by Technology-Enabled Banking

The article by Henry Obiekea discusses how technology-enabled banking is pivotal for Nigeria's economic growth towards its 2036 targets. The country has made significant macroeconomic adjustments, with the Central Bank of Nigeria restoring confidence in the financial system.

By leveraging technology, formal financial inclusion is being promoted, aiming to reach 64% by 2025. The adoption of digital financial services is seen as essential for mobilizing capital efficiently and boosting economic productivity, particularly for small and medium enterprises.

This shift towards a technology-driven banking model is expected to bridge credit gaps, enhance transparency, and drive economic growth.