Nigeria’s Central Bank Unveils New Institutional Strategy for Fintech Growth

Nigeria is repositioning its fintech sector by shifting from startup-led growth to a stronger, institution-driven regulatory framework.

Nigeria is seeking to move its fintech sector from rapid, entrepreneur-led expansion to growth anchored in strong institutional design, following the release of the Central Bank of Nigeria’s Policy Insight Series 2025 report, “Shaping the Future of Fintech in Nigeria.”

For years, Nigeria has led Africa’s fintech space in transaction volumes, funding, and innovation. The new CBN strategy aims to consolidate that leadership by integrating innovation policy, financial inclusion, systemic risk oversight, and cross-border expansion into a single coordinated framework.

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A major focus is reducing regulatory friction. Nearly 88% of fintech operators surveyed said compliance costs limit innovation, while over a third reported product launches taking more than a year. To address this, the CBN proposes a Single Regulatory Window, Compliance-as-a-Service tools, and a permanent fintech engagement forum.

The report also targets digital inclusion challenges such as fragmented digital identity systems, high API costs, and weak USSD infrastructure. On credibility, the CBN highlights improved enforcement and Nigeria’s exit from the FATF grey list as proof of stronger supervision.