2025 RECAP | The Nigerian Fintech Sector Expanded 70% in 2025, Says the Central Bank of Nigeria

The Nigeria financial technology industry expanded by an impressive 70 per cent in 2025, even as global economic conditions remained tough, the Central Bank of Nigeria (CBN) has reported.

The growth figures are part of the CBN’s latest report titled “Shaping the Future of Fintech in Nigeria: Innovation, Inclusion, and Integrity”, which highlights Nigeria’s rising position as a major digital finance hub in Africa.

According to the banking regulator, the surge in fintech activity reflects stronger domestic economic stability and a renewed focus on digital transformation, which has helped evolve the sector from a group of emerging startups to one of the continent’s most dynamic innovation ecosystems.

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CBN Governor, Olayemi Cardoso**,** said that despite global headwinds, Nigerian fintech companies continued to attract investment and drive industry change.

He noted:

“With improved stability of our currency and domestic economy, it is clearer than ever that financial innovation can advance inclusion at scale.”

However, the report also warned of obstacles that could slow future growth.


These include:

• Increased compliance costs related to fraud prevention
• Anti-money-laundering requirements and
• Regulatory delays that are slowing the rollout of new products.

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Industry stakeholders also flagged technical challenges that could hamper expansion.

About half of those surveyed described the fintech ecosystem’s interoperability as weak, citing:

• fragmented API standards and data protocols.

Meanwhile, 37.5 per cent pointed to:

• limitations in digital identity systems and
• a lack of solid credit histories

as barriers to broader financial service delivery.


The report referenced the strain on payments infrastructure during peak periods, such as the busy “Detty December” season, illustrating how spikes in travel, remittances, and wage disbursements put pressure on systems.

To sustain the momentum, the CBN outlined policy measures aimed at balancing innovation with financial stability. These include a proposed shared fraud-intelligence model, regulatory passporting to support cross-border expansion in Africa, and the use of open banking and tiered KYC frameworks to broaden access to financial services.

The central bank said that by strengthening collaboration between regulators and innovators, Nigeria’s fintech sector can continue to be a driver of economic growth and a model for financial inclusion across the continent.

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