- Globus Bank hosted the Fintech Summit 2025 in Lagos, promoting collaboration between banks and fintechs as the key to accelerating innovation and financial inclusion in Nigeria.
- The bank unveiled its open banking sandbox platform and highlighted its API-driven ecosystem and compliance support tools designed to empower fintechs while maintaining regulatory standards.
- Industry leaders praised Globus Bank’s vision, with discussions emphasizing artificial intelligence, infrastructure, trust, and the need for Nigeria to lead in smart financial systems through collaboration and innovation.
Globus Bank, at its Fintech Summit 2025, reaffirmed its commitment to building a collaborative ecosystem that bridges banks and fintechs, emphasizing collaboration, not competition, as the future growth imperative for the Nigerian financial services industry.
The Fintech Summit, themed “Collaborative Intelligence: Accelerating the Fintech Frontier,” was held in Lagos on October 2nd, 2025, at the Federal Palace Hotel, Victoria Island.
Opening the summit, Elias Igbinakenzua, Managing Director and CEO of Globus Bank, underscored the bank’s mission statement, “To serve our customers with passion and deliver superior value to all stakeholders, leveraging technology and people most efficient and responsible manner,” as the foundation for effective collaboration with the Fintechs for growth.
“Our goal is not to compete with fintechs but to empower them,” he said. “At Globus, we believe that empowerment, openness, and support are the three pillars redefining how banks and fintechs collaborate.”
He highlighted that Globus Bank’s API-driven ecosystem and compliance handholding framework allow fintechs to integrate seamlessly while maintaining regulatory standards.
“These tools are not just enablers but catalysts for innovation,” Igbinakenzua added. “We want to help fintechs grow safely, efficiently, and globally.”
The summit reflected on Nigeria’s payment evolution from delayed card settlements to real-time transactions and open banking innovations.
“Nigeria has become a frontier market with over 200 fintechs and transaction volumes crossing over ₦1 quadrillion annually.”
Citing the Nigeria Interbank Settlement Scheme (NIBSS) data, he noted that fintech transaction volumes surged from 11% in 2021 to over 50% in 2024, while transaction values grew from 5% to 22%.
“Between 2021 and 2024, the industry grew by 48%, but fintechs expanded by over 140%, clearly the new growth engine,” he said, urging other banks to collaborate with fintechs to accelerate innovation and deepen financial inclusion across Nigeria’s digital economy.
“The next frontier is collaboration, banks bring scale and trust, while fintechs bring agility and innovation. Together, we can accelerate financial inclusion,” the bank’s MD added.
Adeleke Adekoya, co-founder of Flutterwave, emphasised that artificial intelligence, embedded finance, and open banking are transforming digital payments globally. As well as supporting fraud prevention, credit scoring, and enhanced customer experience.
Mr. Premier Oiwoh, CEO of the NIBSS, urged stakeholders to move from a “cashless” to a “smart” economy.
“Nigeria led the world with NIP. Now, we must lead again by embedding intelligence, transparency, and collaboration into our financial systems,” he said.
Oiwoh praised initiatives like AFRIGO and the forthcoming multipurpose national ID card for deepening inclusion but warned that “profit cannot come before compliance.”
Prof Pius Olanrewaju FCIB, President and Chairman of Council, Chartered Institute of Bankers of Nigeria (CIBN), during his goodwill message, commended Globus Bank for its visionary leadership in hosting the Fintech Summit, adding that the initiative reflects the bank’s commitment to driving innovation and inclusivity within Nigeria’s financial ecosystem.
Prof Olanrewaju emphasised that Nigeria’s fintech sector continues to show “remarkable potential,” citing a 2023 McKinsey report which noted that the country accounts for over one-third of Africa’s 5,000 fintech firms and has attracted about $1.2 billion in funding between 2019 and 2023.
The CIBN president also highlighted the growing adoption of digital transactions, revealing that Nigeria processed ₦284.9 trillion through electronic channels in the first quarter of 2025, a 17.7 percent increase over the same period last year.
“To take care of fintech is, therefore, to take care of the future of banking, the future of jobs, and the future of prosperity,” Olanrewaju said, stressing the centrality of digital transformation to financial inclusion.
He added that collaboration and artificial intelligence (AI) must play a defining role in shaping the future of banking.
“We must, as a matter of necessity, harness the untold power of artificial intelligence to drive efficiency in every facet of our lives,” he said. “Beyond adoption, our goal must be to ensure that Nigeria becomes a producer, not just a consumer, in this technological revolution.”
Peter Amangbo, Chairman of Globus Bank, in his goodwill message, emphasized that no one segment of banks, fintechs, or regulators can do it alone and that collaboration is essential for the success and growth of the entire industry.
Yinka Adewale, CEO, Nomba, emphasised that their collaboration with Globus Bank processed ₦1 trillion in transactions and is on track to reach ₦10 trillion within the next 12 months. He appreciated Globus Bank’s management team for building a technology-first institution defined by trust, efficiency, and innovation. He encouraged other fintechs to seek banking partners with the right infrastructure to power sustainable growth in Nigeria’s evolving financial ecosystem.
Obi Emetarom, CEO, Zone Payment Network Limited, during his speech on the future of financial services, acknowledged Nigeria’s progress in building a robust payment system, real-time transfers, 2.7 million POS terminals, digital banking channels, wallets, remittances, and neobanks.
Yet, he noted persisting gaps such as fragmented systems with poor backup, cumbersome and confusing user interfaces, and restricted innovation because only deposit-holding institutions are allowed to build products.
During the product demonstration, Bola Omole, Chief Information Officer at Globus Bank, unveiled the bank’s Third-Party Partner Sandbox Environment, a global-standard open banking platform that allows fintechs to test and integrate APIs securely.
“We built this to make integration faster and safer. Developers can simulate real-world transactions and access multiple APIs, all compliant with CBN’s open banking standards.”
Panel discussions throughout the summit reinforced the message of partnership. In one of the sessions moderated by Musa Jimoh, Director of Payments System Policy, CBN, the discussion focused on strengthening the ecosystem through key issues such as standardisation and trust, infrastructure deficiencies, and turning client issues into innovative ideas.
He stated, “This is not going to be a regulatory conversation. We’re basically looking at the ecosystem and how we can strengthen the decision system.”
Suru Avoseh, CEO of BluSalt, one of the panelists, observed that “Collaboration isn’t just about sharing APIs; it’s about combining strengths.” Likewise, Ngover Ihyembe-Nwankwo, Executive Director at NIBSS, added that trust remains the currency of the financial system; once lost, it’s hard to regain.
The event also featured an account opening contest, allowing the audience to open a Globus Bank account using the bank’s mobile app. The contest was conducted in four categories: account opening contest, fastest time onboarding on the app, first inflow time category, and first transfer time, with two winners emerging from each category.
The event concluded with recognition of leading fintech partners with awards, including Nomba, Fincra Technologies Limited, PayAza, Creditswitch Limited, Konga Online Nigeria Limited, Bud Infrastructure Limited, InterSwitch Limited, Flutterwave, Unified Payment Services, OnAfriq, CoralPay, EduTAMS Limited, and PayOnUs.
About Globus Bank
Founded with a vision to revolutionize financial services in Nigeria, Globus Bank offers a blend of digital and physical banking solutions. With a strong emphasis on innovation, customer-centricity, and operational excellence, the bank is committed to delivering next-generation banking experiences.
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