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Industry leaders from the insurance sector, fintech ecosystem, and capital market regulators came together at the Business Journal Fintech & Financial Inclusion Roundtable 2025 to deliberate on the opportunities and persistent challenges shaping Nigeria’s financial industry.
Themed “Fintech and Financial Inclusion: The Opportunities and Challenges for Nigeria,” the roundtable underscored how technology continues to transform the nation’s financial services landscape.
Delivering his remarks, Dr. Umaru Kwairanga, group chairman of the Nigerian Exchange Group, represented by Afeez Ramoni, chief information officer, emphasized that the rise of mobile payments, digital lending, and wealth management apps represents an opportunity for growth rather than a disruption.
“Fintech provides us with a once-in-a-generation chance to unlock inclusive economic growth. Digital platforms can support SMEs in raising capital and empower millions of Nigerians to build wealth through market participation. Fintech inclusion is not just about technology; it is about people,” Kwairanga stated.
Dr. Abiodun Adedipe, chief consultant/CEO of B. Adedipe & Associates Limited, identified persistent hurdles limiting financial inclusion despite Nigeria’s vast population and technological potential.
He highlighted challenges such as inadequate policies, poor internet and power infrastructure, overlapping regulations, and gaps in reaching underserved populations, particularly women and rural dwellers.
During the panel session, Prince Babatunde Oguntade, represented by Mrs. Bukola Ifemade, stressed the role of insurance brokers in advancing inclusion.
He noted that brokers are partnering with organizations such as the UNDP to fund financial literacy campaigns and broaden access to insurance services in rural communities.
Panelists further emphasized the importance of trust-building within the insurance sector through prompt claims settlement, transparency, and visible customer protection.
They also called for deeper collaboration between fintech innovators, regulators, and insurance professionals to bridge Nigeria’s financial inclusion gap.
The roundtable concluded with consensus that strategic collaboration, enabling policies, and customer-centric solutions are critical to achieving inclusive growth in Nigeria’s financial ecosystem.
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