When was the Fintech Association of Nigeria established?
The association was established in June 2017, with Dr Segun Aina serving as its first president. The initial members were five and today we have 415 members cutting across 22 sectors of the economy. We are an inclusive association and membership is open to organizations and individuals involved in a digital transformation journey.
What are the core objectives and functions of the association? What are the benefits that your members enjoy?
The Mantra of the Association is to “Dive Digital Inclusion” in Nigeria. This is further supported by three core objectives:
Connect – to bring together all stakeholders in the digital space to interact, network, share ideas, develop solutions, etc. This objective is supported with various activities including the Nigeria Fintech Week which holds from October 24 to 26, 2023 at the Landmark Centre.
Accelerate – This objective addresses thought leadership interventions, capacity building initiatives and research. We currently have a training package called the DigiQuip series, under which we have the DigiStuds training where we have trained over 400 students in public universities on python language, data analytics, graphics design, web design, UX/CX.
Advocate – Involves liaising and collaborating with Regulators, National Assembly, and other government agencies to ensure policies, regulations and frameworks support the innovation and creativity to grow the Fintech ecosystem. Knowing that Technology is always ahead of regulation, we created a Reguvator forum (regulators and innovators), which meets quarterly to discuss issues affecting the ecosystem. Engagement of Regulators and Innovators is good for the ecosystem, and we hope to see this forum becoming a platform where innovation, policies and frameworks originate from. The forum currently has the following regulators as members: Central Bank of Nigeria (CBN), Security Exchange Commission (SEC), National Insurance Commission (NAICOM), Nigeria Communication Commission (NCC), Nigeria Financial Intelligence Unit (NFIU), Nigeria Information Technology Development Authority (NITDA), Nigeria Deposit Insurance Corporation (NDIC), Federal Competition and Consumer Protection Commission (FCCPC), Nigeria Data & Privacy Commission (NDPC), Nigeria Investment Promotion Council (NIPC).
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