Nigeria Advocates RegTech for Financial Inclusion Growth

The Nigerian presidency, represented by Nurudeen Abubakar Zauro, emphasized the importance of Regulatory Technology (RegTech) in promoting financial inclusion and establishing a trusted digital economy during the RegTech Africa Conference held at the State House Conference Centre in Abuja. Zauro stated that the administration of President Bola Tinubu aims to move beyond reliance on natural resources and build a digital ecosystem that expands opportunities for all citizens.

He noted that millions remain outside the formal financial system, and achieving Nigeria's goal of becoming a $1 trillion economy by 2030 requires stronger partnerships among regulators, financial institutions, and technology firms. The conference, chaired by Cyril Okoroigw, highlighted the urgent need for policies that support a borderless economy and address the vulnerabilities in Africa's digital payment ecosystem, which faces significant financial crime risks.

Olayemi Cardoso, representing the Central Bank of Nigeria, also spoke on the importance of promoting financial inclusion policies.