SHALOM OLALEYE
The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has called for stronger partnerships within Nigeria’s fintech ecosystem to bridge digital and financial divides, citing the success of collaborative efforts like the agency’s work with the CBN on the cashless policy.
He made this statement during the 6th Annual FirstBank Fintech Summit, held at the Lagos Continental Hotel, Victoria Island, Lagos. The event was themed, “Policy and Infrastructure: Navigating Financial Regulations for Fintech Innovations.”
Nigeria has the infrastructure, and with the right collaborations, we can bridge both digital and financial divides, he stated.
Inuwa cited the agency’s partnership with the Central Bank of Nigeria (CBN) on the cashless policy as an example of successful collaboration.
This collaboration led to banks upgrading their infrastructure while fintech companies stepped in to bridge gaps left by traditional banking systems, he explained.
The NITDA DG also addressed concerns about data sovereignty, advocating for the development of local cloud infrastructure to enhance national security and fintech growth.
Without operational sovereignty, we cannot fully control or secure our digital assets, he added.
Other speakers at the summit, including Mr. Premier Oiwoh, MD/CEO of NIBSS, and Mr. Adewale Salami, CIO of FirstBank, reinforced the importance of aligning regulations with innovative partnerships to further empower the fintech sector.