Central Bank Report Signals Transformation in Digital Finance Sector

The Central Bank of Nigeria is set to publish a comprehensive fintech survey report that offers new insight into the depth and structure of the regulator’s engagement with Nigeria’s fast-growing digital finance industry.

The report, based on a nationwide survey of fintech operators alongside stakeholder workshops and policy roundtables held in 2025, reflects a gradual shift in regulatory thinking as fintech becomes increasingly central to payments, lending, data, and identity infrastructure across the economy.

Sources familiar with the report say it highlights a move away from viewing fintech primarily as a disruptive force, towards recognising its role as foundational financial infrastructure. While the survey does not introduce immediate policy changes, it points to more sustained dialogue between the regulator and industry players.

Comments referenced in the report indicate strong adoption of artificial intelligence by fintech firms, particularly in fraud detection and credit assessment. Respondents also highlighted Nigeria’s real-time payments infrastructure as a key national strength with global relevance.

However, views on the regulatory environment remain divided. About half of respondents described the framework as supportive, while others pointed to licensing delays, policy uncertainty, and compliance bottlenecks as constraints on growth. The report also draws attention to the financial vulnerability of many fintech firms, citing limited access to domestic capital and declining foreign investment flows.

The CBN is said to be exploring ways to convene partnerships involving capital markets and development finance institutions, though it does not plan to fund fintech operators directly.