Technology News: Navigating Fintech Growth in Nigeria
Nigeria’s fintech sector, celebrated for its rapid expansion and dedication to combating financial exclusion, is at a critical juncture. The once-booming industry is now facing a stricter regulatory landscape, which necessitates significant adjustments for continued success. This shift demands a focus on robust corporate structures, unwavering regulatory compliance, and transparent communication between fintech providers and their clientele.
Compliance: The New Frontier for Nigerian Fintechs
The imperative of regulatory compliance was the core discussion point during a panel at the Moonshot by TechCabal event, held in Lagos on October 16th, 2025. The session, “Scale, Compliance, and the Cost of Growth in African fintech,” emphasized a crucial change in the industry. Compliance is no longer an optional aspect; it is a fundamental requirement for any fintech company aiming for sustained growth and long-term viability in Nigeria and beyond. Panelists included Ejike Kanife from Technext, Tomi Oduyemi from Cradtonic, Toni Akinmolayan from Busha, and Lukman Bello from Paystack, offering diverse perspectives on the challenges and opportunities of this evolving fintech environment.
In essence, the rising costs associated with ensuring that financial institutions meet regulatory requirements is now viewed as the cost of entry for sustained success.
This regulatory evolution underscores the need for fintechs to prioritize these critical aspects to survive and thrive.
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