By Patrick Aigbokhan
Ahead of the NITRA FINANCIAL TECHNOLOGY (FINTECH) FORUM 2023 slated to hold on October 26, 2023, at CitiHeight Hotel, Ikeja, Nigeria’s telecommunications regulatory agency, Nigerian Communications Commission (NCC) and the all-in-one payments, banking and operations platform, Moniepoint MFB have indicated their supports toward the success of the event.
The event is organized by the industry’s media body, the Nigeria Information Technology Reporters Association (NITRA), with the theme “Harnessing Nigeria’s Fintech Potentials: Challenges And Opportunities”
The forum will gather industry stakeholders in the financial technology sector, and the ICT industry as a whole, both from the public and private sectors, to discuss and find ways of accelerating growth in the Fintech sector as a means of achieving laudable federal government set targets and policies.
At the event, stakeholders will also discuss issues around policy documents and regulations, will feature Panel Discussion sessions that will dwell on “Building Infrastructure To Grow Fintech In Nigeria: The Collaborative Point” and “Fintech And The Place Of Regulatory Engagement”.
Then Minister of Communications, Innovation and Digital Economy, Dr. Bosun Tijani is expected to deliver the Lead Speech, while the Governor of the Central Bank of Nigeria (CBN) and the Executive Vice Chairman, Nigerian Communications Commission (NCC) are to present Keynotes.
Chief Executive Officer of the Federal Competition And Consumer Protection Commission (FCCPC); CEOs of other government and private ICT companies, the Media, including the full membership of NITRA and other stakeholders in the industry, including COOs, CIOs, CFOs, CROs, and CCOs, will also join the Panel Discussions to chart the way for a viable financial technology sub-sector in Nigeria. Industry Associations expected at the forum include ALTON, ATCON, NCS, ISPON, ITAN, CPN, and NiRA, among others.
Speaking on the event, the Chairman of NITRA, Chike Onwuegbuchi, noted: “While looking at the benefits of developing a robust Fintech ecosystem in Nigeria, stakeholders will also discuss the challenges that hamper or may hamper this drive – these will include the roles of infrastructure, funding, policies, and collaboration; and seek ways of tackling these challenges effectively.”
He noted that with the backing of another key financial technology firm, Moniepoint, the NITRA Fintech Forum will be robust with discussions that will move the industry further.
Moniepoint Microfinance Bank is the definitive bank for small and medium-sized businesses in Nigeria and is regulated by the Central Bank of Nigeria (CBN). Moniepoint MFB was also awarded by the CBN in 2022 as the most inclusive payment platform in the country.
The MFB received its license in February 2022 and helps over 1.5 million businesses with banking, payment processing, access to loans, and business management tools. With these solutions, businesses on the moniepoint platform process about 8 trillion Naira monthly.
Moniepoint operates the largest distribution network for financial services in Nigeria, and over 33 million people use their cards on its POS terminals monthly across every local government in Nigeria.
