The Central Bank of Nigeria’s Upcoming Fintech Survey Report: Key Insights and Implications

The Central Bank of Nigeria (CBN) is poised to unveil a significant fintech survey report on February 2. This report promises to offer valuable insights into the apex bank’s deepening engagement with Nigeria’s burgeoning fintech sector.

According to sources at Nairametrics, the report is grounded in a comprehensive national survey of fintech operators and complemented by various stakeholder workshops and policy discussions held throughout 2025. This collaborative effort aims to paint a clearer picture of the fintech landscape in Nigeria.

Shifting Perspectives on Fintech

There has been a notable shift in how fintech is perceived by the CBN. Rather than viewing fintech solely as a disruptive force, the apex bank now acknowledges its essential role in facilitating payments, lending, data management, and identity verification across the economy. This transition indicates a more structured partnership with fintech companies, albeit without immediate formal policy changes.

Insights from Industry Leaders

CBN Governor Yemi Cardoso highlighted the significance of the upcoming report during a recent bankers committee meeting. He reiterated the apex bank’s commitment to fostering responsible innovation within the fintech sector.

• “The strategic dialogue on fintech during the IMF Fall Meetings united policymakers, innovators, and investors, culminating in an advisory report that will steer the next phase of fintech development in Nigeria.”
• “As digital assets and stablecoins gain importance globally, our approach remains clear: we will lead with thoughtfulness and clarity while ensuring that innovation is anchored in consumer protection and financial stability.”

Survey Highlights

The insights drawn from the report are based on stakeholder surveys, closed workshops, and discussions with industry players. Some key findings include:

• The widespread adoption of AI for fraud detection and credit scoring among fintech firms.
• Acknowledgment of Nigeria’s real-time payments infrastructure as a national asset and a potential global example.
• Strong support from fintech companies for regulatory passporting to facilitate compliant cross-border operations.
• A divided perception of the regulatory environment, with half of the respondents viewing it as supportive while the other half considers it restrictive due to delays and ambiguities in licensing and policy.

The Growth of Fintech in Nigeria

The growth of fintech in Nigeria has been fueled by increased mobile usage, unmet needs in traditional banking, and the robustness of real-time payment systems. In 2024 alone, nearly 11 billion transactions were processed through instant payment platforms, with over 12 million active contactless payment cards in circulation. Additionally, more than 40 fintech companies are currently piloting solutions via the CBN’s regulatory sandbox.

Addressing Financial Vulnerabilities

While the report is expected to underscore the vital role fintechs play in the country’s economy, it also highlights their financial vulnerabilities. Many operators are facing challenges in securing domestic funding due to macroeconomic instability and foreign exchange risks. Moreover, the decline in foreign investment has exacerbated the financing gap, forcing fintechs to rely on offshore funding, making them susceptible to global market fluctuations.

Looking Ahead: The CBN’s Regulatory Focus

The CBN’s regulatory priorities for 2026 align closely with the themes emerging from the fintech report. Key areas of focus will include:

• Facilitating the growth of fintech while prioritizing consumer protection and cybersecurity.
• Promoting data governance and establishing clearer regulations for digital assets.
• Enhancing contactless payment solutions and improving the overall digital financial ecosystem.
• Strengthening collaborations with both local and international stakeholders to bolster regulatory leadership.

This forthcoming report is set to shape the regulatory trajectory of the fintech sector in Nigeria, reflecting the CBN’s commitment to enhancing infrastructure, resilience, and collaborative opportunities within the industry. Stay tuned for more updates from Nairametrics as we monitor the release of this pivotal document.