Prediction
With fraud no longer a major distraction following the Central Bank of Nigeria’s strict regulatory interventions and consumer trust being rebuilt, fintechs will return to massive growth and innovation. The market could double this year alone.
Supporting Evidence
CBN has already shown it will use enforcement to force compliance. The fines on Moniepoint and OPay in 2024 signalled a tougher posture toward large platforms. The CBN’s own fintech reporting and ecosystem survey positioning emphasise trust frameworks, consumer protection, and a more orderly market structure.
Underlying payment rails are still compounding fast, meaning the demand side is there if trust improves. Payment data shows large yearly increases in instant payment value and strong growth in mobile transfers.
Large Nigerian consumer fintechs have reached massive scale (users and merchants), which makes them unusually capable of converting renewed trust into higher engagement, cross-selling, and new launches.
Risk Factors
Compliance costs, licensing constraints, and operational restrictions can slow experimentation even if it helps incumbents. The CBN’s own survey shows the ecosystem is split on whether regulation is supportive or constraining.
A major platform outage, high-profile scam, or enforcement action can reset consumer sentiment quickly, especially in a market where many users are newly banked and trust is still thin.
Who is Adedeji Olowe?
Adedeji Olowe is a Nigerian technology entrepreneur and financial services professional with deep experience across banking and fintech. He previously worked in the Nigerian banking sector, where he was involved in building and managing large-scale financial systems before transitioning into technology entrepreneurship.
He is the founder of Lendsqr, a fintech infrastructure company that provides tools for lenders and financial institutions to build, manage, and scale digital credit products across Africa.
Olowe is also the Chairman of the Board at Paystack, where he supports the company’s long-term governance and strategic direction.
