Investments in Nigeria’s Payment System Rose to $500 Million | Leadership

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As reported by the ‘Leadership’ website, during a keynote address at a seminar for journalists in Enugu, Godwin Emefiele, Governor of the Central Bank of Nigeria (CBN), said: “The high level of confidence in our payment system, between 2015 and 2020, has attracted the investment of about $500m in firms run by Nigerian founders”.

Many FinTechs have experienced a surge in demand as working practices and customer banking habits changed, according to reports. Pointing to the estimated 62 percent population of Nigerian youths, the CBN governor said Nigeria remains primed to be an active playground for digital transformation and cannot afford to ignore the FinTech challenge.

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