The Central Bank of Nigeria has announced a major expansion of mobile banking and digital payment systems to improve financial inclusion across the country. Over 40 percent of Nigeria’s population currently lacks access to traditional banking.
Officials say mobile platforms can help rural communities access savings, loans, and payments more efficiently. The move is part of a broader plan to digitize Africa’s largest economy.
Global financial institutions, including some from India and Bangladesh, are exploring partnerships in Nigeria’s growing fintech sector. Analysts believe this could create opportunities for cross-border innovation in digital finance.