Dipo Olowookere
By Dipo Olowookere
The Executive Director of Technology and Operations at Access Bank, Mr Ade Bajomo, has hinted that the Central Bank of Nigeria (CBN) is already exploring the adoption of the blockchain technology for the financial sector in the country.
Recall that a few days ago, Business Post reported that Nigeria was eyeing to make about $10 billion through blockchain technology in the next 10 years.
Mr Bajomo, while speaking in an interview on Arise TV’s Arise Xchange recently, noted that the apex bank was looking at how to make this a reality through an inter-agency committee and the FinTech Association of Nigeria (FintechNGR).
The financial expert, who acknowledged that FinTech offerings will be one of the key performance drivers for the Nigerian banking sector post-COVID-19, noted that an appreciable number of innovative solutions will be introduced in the payment sector, which has been responsible for over N700 trillion worth of transactions over the last 12 months.
According to him, the key drivers of these innovative solutions will include contactless payments, biometric solutions for financial inclusion and the acceptance of blockchain technology as a viable payment option.
Mr Bajomo, since joining Access Bank from the Nigerian Stock Exchange (NSE), has led the lenders’ digital transformation, overseeing its use of advanced analytics, cloud computing, artificial intelligence, machine learning and robotics process automation to sustain banking and improve customer experience.
His exploits in the fintech space recently earned him an appointment as the new President of FintechNGR after serving as Vice President of the group for the last two years.
“In my capacity as the president, I will ensure FinTech Association of Nigeria works collaboratively as a team to position Nigeria and ultimately, Africa, as a force to be reckoned with in the global community.
“Nigeria has all the human resources it needs to be competitive in the global marketplace and this administration will strive to accelerate the growth of the industry and help create job opportunities and wealth,” Mr Bajomo said after his inauguration.
He thanked the outgoing president, Dr Segun Aina and the governing committee “for the remarkable accomplishments during the last two years.”
According to him, “This appointment is a responsibility that I take very seriously and I am humbled by your vote of confidence. With your help, I believe we can position Nigeria as a leading market for global FinTech Innovation and Investment.”
