Meet the Top 10 Nigerian Women Leading Fintech Growth in 2025
Nigeria’s fintech sector is booming, largely built upon groundwork laid by the Central Bank of Nigeria (CBN). Following the banking crisis of 2007, the CBN introduced the Payments System Vision 2020, aiming to modernize payment systems and reduce cash dependency. This initiative, along with early innovations, set the stage for the impressive growth we see today.
# Pioneers and Catalysts of Fintech in Nigeria
Companies like Interswitch (founded in 2002) and eTranzact were among the earliest fintech pioneers. They developed vital infrastructure for digital transactions, establishing platforms for ATMs, POS terminals, and online payments, forming the bedrock of the entire ecosystem. The true fintech explosion, however, was triggered by widespread affordable mobile phones and greater internet access between 2010 and 2017. The CBN’s implementation of the cashless policy, which started around 2012, played a crucial role. This policy compelled businesses and consumers to embrace digital transactions, thus driving demand for innovative and quicker financial services. Fuelled by a young demographic, increasing smartphone adoption, and substantial foreign venture capital, Nigeria quickly became a leading force in African fintech.
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