Friday, April 4, 2025
31.4 C
Lagos

Moniepoint Strengthens Efforts to Broaden Financial Access Through Collaborative Initiatives

Africa’s fastest growing financial institution according to the Financial Times, Moniepoint Inc has underscored the importance of a collaborative and holistic stakeholder approach in advancing the future of financial and economic inclusion in Nigeria.

In a recent high-level policy dialogue between the Nigerian government and private sector stakeholders held in Washington DC, Moniepoint Inc’s Group CEO and Co-Founder, Tosin Eniolorunda emphasised the importance of public-private collaborations in addressing trust issues that have slowed down the adoption of innovative fintech solutions for economic and financial inclusion.

“Moniepoint has long championed the importance of financial inclusion and financial happiness. Building trust with the public and government, improving business and consumer access to the financial system are critical issues that are aligned to our philosophy. As testament to our commitment, we recently launched a landmark report investigating Nigeria’s informal economy, highlighting opportunities to widen financial inclusion to historically underserved communities. The outputs from this strategic gathering will go a long way in bolstering Nigeria’s economy even as closer linkages are formed from public-private collaboration which will be a huge boost to the overall development and competitiveness of the larger financial services industry,“ Eniolorunda said.

The event, which brought together government officials, regulators, law enforcement agencies, and fintech industry leaders at George Washington University, aimed to leverage innovative approaches to drive a sustainable and inclusive financial system in Nigeria.

Vice President Kashim Shettima, addressing the gathering via video conference, highlighted the urgent need for financial innovation to drive Nigeria’s economic and financial inclusion agenda. This aligns with President Bola Ahmed Tinubu’s administration’s commitment to bringing over 30 million unbanked Nigerians into the formal financial sector as part of the Renewed Hope Agenda.

“We must develop a sustainable collaboration approach that will facilitate the adoption of inclusive payment to achieve our objective of economic and financial inclusion,” Vice President, Shettima stated.

The dialogue focused on addressing critical challenges in Nigeria’s fintech ecosystem, including regulatory oversight, security concerns, and trust issues that have hindered the widespread adoption of innovative financial solutions. Participants explored strategies to enhance interagency collaboration and strengthen the overall effectiveness of the financial services sector.

Philip Ikeazor, Deputy Governor of the Central Bank of Nigeria responsible for Financial System Stability, emphasised the need for ongoing collaboration among all stakeholders to meet the goals of the Aso Accord on Economic and Financial Inclusion.

Kashifu Inuwa Abdullahi, Director General of the National Information Technology Development Agency (NITDA), advocated for “a digital-first approach and the fusion of digital literacy with financial literacy to address trust issues affecting the inclusive payment ecosystem.”

Dr. Nurudeen Zauro, Technical Advisor to the President on Economic and Financial Inclusion, explained that the gathering aims to evolve into a mechanism providing relevant information to the Office of the Vice President, facilitating effective decision-making for economic and financial inclusion.

The event resulted in various recommendations covering rules, infrastructure, and coordination, with a focus on implementable actions and clear accountabilities. As discussions continue, Moniepoint remains dedicated to leveraging its expertise and technology to support the government’s financial inclusion goals and create a more financially inclusive society for all Nigerians.

Other notable speakers included Inspector General of Police, Mr. Kayode Egbetokun, Executive Director of the Center for Curriculum Development and Learning (CCDL) at George Washington University, Professor Pape Cisse, Assistant Vice President at Merrill Lynch Wealth Management, Mr. Reginald Emordi, Regional Director for Africa at the Center for International Private Enterprise (CIPE), Mr. Lars Benson, and United States Congresswoman representing Florida’s 20th Congressional District, The Honorable Sheila Cherfilus-McCormick and Prof. Olayinka David-West from the Lagos Business School among others.

 

spot_img
spot_img
spot_img

Hot this week

Sterling Bank Champions Cancellation of Transfer Charges

In a landmark move that sets a new benchmark...

Stanbic IBTC Bank PMI: Sharpest Rise in New Orders in 14 Months

The recovery in the Nigerian private sector gathered strength...

Barth Nnaji to Deliver The Bullion Lecture 2025

Globally acclaimed energy expert, Professor Barth Nnaji, is to...

RMB Leads Investor Roadshow in Nigeria, Reinforcing Market Confidence, Investment Opportunities

L- R: Regional Lead, Institutional Client Group, RMB, Eyitope Owolabi;...

Tinubu Signs Investments and Securities Bill 2025 into Law

In a major boost to capital market regulation in...

Topics

Wema Bank Unveils Moruf Oseni as New CEO as Adebise Retires

Moruf Oseni Wema Bank Plc has announced the retirement of...

Sterling Bank Earns 5-Peat Victory at Great Place to Work Awards

Sterling Bank Plc has set a new milestone by...

PZ Cussons Chemistry Challenge 2018 Commences Registration

Nigeria’s number one pure science competition, PZ Cussons Chemistry...

SMILE Communication Appoints Mann El Amine as New GMD

Smile Communication, a pan African Telecommunications group with firm...

Emefiele, IMF Chief for FMDA Financial Markets Conference

The Central Bank of Nigeria (CBN) Governor, Mr. Godwin...

NSE Renews Onyema’s Contract for a 2nd Five-year Term

The Nigerian Stock Exchange has approved the renewal...

The Case for Re-authorization of US Ex-Im Bank

The charter which authorized the existence of Export –...
spot_img

Related Articles

Popular Categories

spot_imgspot_img