The Central Bank of Nigeria (CBN) is set to release a landmark fintech survey report on Monday, February 2, providing rare insight into the nature and depth of the apex bank’s engagement with Nigeria’s fast-growing sector.
Nairametrics understands the report is based on a nationwide survey of fintech operators, complemented by stakeholder workshops and policy roundtables held in 2025.
People familiar with the report point to a more structured, ongoing partnership between the CBN and fintechs as digital finance expands, though it stops short of formal policy changes.
It signals a shift from viewing fintech as a disruptive force to recognising its foundational role in payments, lending, data, and identity systems across the economy.
What they are saying
CBN Governor Yemi Cardoso referenced the upcoming report during his remarks at the Bankers’ Committee meeting, reinforcing the apex bank’s commitment to responsible innovation.
- “The Strategic Fintech Dialogue at the IMF Fall Meetings brought together policymakers, innovators and investors, culminating in a consultative report that will guide Nigeria’s next phase of fintech evolution.”
- “As digital assets, tokenisation and stablecoins become critical topics for central banks worldwide, our stance remains clear: we will lead thoughtfully, with discipline and clarity of purpose. Innovation must proceed responsibly, anchored in consumer protection and financial stability.”
The report’s insights stem from stakeholder surveys, closed-door workshops, and roundtables with fintech operators.
- Respondents noted widespread use of AI in fraud detection and credit scoring.
- Real-time payments infrastructure is seen as a national strength and global model.
- Fintech firms strongly support regulatory passporting to enable compliant cross-border expansion.
- Exactly half of the respondents describe the regulatory environment as enabling, while the other half see it as restrictive due to licensing delays and policy ambiguity.
This divergence reveals tension between innovation and oversight, with fintech leaders calling for clearer rules and faster approvals.
Get up to speed
Nigeria’s fintech rise has been driven by mobile adoption, gaps in traditional banking, and robust real-time payments.
- Nearly 11 billion transactions were processed via instant payment rails in 2024.
- Over 12 million contactless payment cards are now active in Nigeria.
- More than 40 fintech firms are testing solutions through the CBN’s regulatory sandbox.
- Recent speeches by Cardoso confirm that fintech is no longer seen as peripheral, but as national infrastructure requiring resilience and responsible scaling.
The CBN also recently announced it has upgraded the licences of selected FinTechs and Microfinance Banks (MFBs) with nationwide operations to national status.
More insights
One of the report’s key revelations is the financial vulnerability of Nigerian fintechs, despite their importance to the economy.
- The report is expected to state that many operators find it difficult to raise capital domestically due to macroeconomic instability and currency risk.
- It will also point to the reduced foreign investment, which has intensified the funding gap.
- Offshore funding remains dominant, exposing firms to global volatility.
- Fintechs also support the creation of blended finance, credit guarantees, and secondary markets to mobilise long-term capital.
Nairametrics understands the CBN does not plan to fund fintechs directly but may act as a convener for capital-market and development-finance partnerships.
What you should know
The CBN’s 2026 regulatory priorities align closely with the themes highlighted in the forthcoming report.
- Support fintech expansion while protecting consumers and enhancing cybersecurity.
- Promote data governance, stricter licensing, and clearer digital-asset guidelines.
- Expand contactless payments and improve digital financial rails.
- Deepen partnerships with local and international stakeholders to enhance regulatory leadership.
This report is expected to influence the regulatory direction for Nigeria’s fintech sector, especially as the CBN sharpens its focus on infrastructure, resilience, and collaboration.
Nairametrics is tracking the release of the report and will provide further updates as more details become available.
