Naija Banking We Don Reach New Level, Na Fintech Play Major Role

Omo, make I gist you something wey dey happen for Naija banking world wey go make you shout!

Henry Obiekea, the Managing Director of FairMoney Microfinance Bank, don drop some hot knowledge! E talk say if banks and fintechs sabi work together, dem go fit carry plenty Nigerians come inside financial inclusion and boost this economy wey dem talk say fit hit $1 trillion by 2036.

Obiekea no dey dull! According to am, Nigeria dey enter new phase for 2026 as growth dey beckon. After years of hustle, with foreign exchange matter don settle small and naira don find back im confidence, e say the next wahala na how Nigerians go fit join the financial system waka well. Na technology-enabled banking dey do the jujutsu for this level. E say physical bank alone no go fit reach everybody.

“Mobile-first banking na the ginger we need,” e continue. “As licensed microfinance banks dey use everyday devices to dey reach more people, dem dey bring more Nigerians enter the formal economy.” E don show say for first quarter of 2025 alone, Naija don record over N295 trillion in electronic payment transaction. Chai! Dat one no be joke o.

Obiekea talk am clear, say Micro, Small, and Medium-Scale Enterprises (MSMEs) dey important for this economic growth matter. E dey encourage technology-driven banking models wey fit close the gap wey dey for credit opportunities. Small loans dey chook eye for the matter, meaning dem dey fit help small businesses grow big. And as dem dey grow, dem dey also fit contribute better revenue for government.

Him no forget to hail the Central Bank of Nigeria for their Open Banking framework wey go land for 2026. This one go help every regulated institution dey play by the same rule book, and e go allow customers carry their financial history waka enter different banks. “We dey see this framework as social contract,” Obiekea talk. “Once people sabi say their money dey protected, dem go put mouth for the economy more.”

Overall, wetin we go take from this matter be say, the future of Naija banking dey depend on how traditional banks and technology-enabled banks go fit work together. Na their cooperation go help every Nigerian – from city worker to village trader – come be part of this $1 trillion journey. Na only together dem fit turn financial access to economic power!”