By Modupe Gbadeyanka
Nigeria can quickly achieve robust financial and economic inclusion if stakeholders from the private and public sectors work together, the chief executive of Moniepoint Incorporated Group, Mr Tosin Eniolorunda, has said.
Speaking recently at a high-level policy dialogue between the Nigerian government and private sector stakeholders in the United States, Mr Eniolorunda emphasised the importance of collaborative initiatives in designing innovative fintech solutions.
Business Post reports that the event was put together to leverage innovative approaches to drive a sustainable and inclusive financial system in Nigeria.
It brought together government officials, regulators, law enforcement agencies, and fintech industry leaders at George Washington University.
The dialogue focused on addressing critical challenges in Nigeria’s fintech ecosystem, including regulatory oversight, security concerns, and trust issues that have hindered the widespread adoption of innovative financial solutions.
Participants explored strategies to enhance interagency collaboration and strengthen the overall effectiveness of the financial services sector.
In his presentation, Mr Eniolorunda said, “Moniepoint has long championed the importance of financial inclusion and financial happiness. Building trust with the public and government, and improving business and consumer access to the financial system are critical issues that are aligned with our philosophy.
“As a testament to our commitment, we recently launched a landmark report investigating Nigeria’s informal economy, highlighting opportunities to widen financial inclusion to historically underserved communities.
“The outputs from this strategic gathering will go a long way in bolstering Nigeria’s economy even as closer linkages are formed from public-private collaboration which will be a huge boost to the overall development and competitiveness of the larger financial services industry.”
In his contribution, Nigeria’s Vice President, Mr Kashim Shettima, highlighted the urgent need for financial innovation to drive Nigeria’s economic and financial inclusion agenda.
According to him, this aligns with President Bola Tinubu’s administration’s commitment to bringing over 30 million unbanked Nigerians into the formal financial sector as part of the Renewed Hope Agenda.
“We must develop a sustainable collaboration approach that will facilitate the adoption of inclusive payment to achieve our objective of economic and financial inclusion,” Mr Shettima disclosed via video conference.
On his part, the Deputy Governor of the Central Bank of Nigeria (CBN) for Financial System Stability, Mr Philip Ikeazor, emphasized the need for ongoing collaboration among all stakeholders to meet the goals of the Aso Accord on Economic and Financial Inclusion.