At a recent press conference in Lagos, Dr. Stanley Jacob, President of the Fintech Association of Nigeria (FintechNGR), revealed that Nigerian fintech companies continue to perform well despite a global slump in startup funding.
Dr. Jacob explained that while worldwide venture capital funding has slowed down, Nigerian fintech investors remain active but have shifted focus. Instead of funding many early-stage startups, they are now backing growth-stage fintech companies with more mature business models. This shift indicates greater confidence in already established fintechs showing promising progress.
He stated the rise of Nigerian-backed fintech firms such as Zest by Stanbic IBTC, Quad by GTBank, and Hydrogen by Access Bank. These companies are growing strongly without the need for foreign venture capital support. Dr. Jacob also noted that many local angel investors and high-net-worth individuals are quietly funding startups, even though they usually operate outside of traditional venture capital.
Supporting this positive outlook is an ongoing regulatory reform by Nigeria’s Securities and Exchange Commission (SEC), which aims to make it easier for fintechs to list on the stock exchange. This is expected to encourage greater investment transparency and participation from domestic investors in the near future.
The Fintech Association’s upcoming Nigeria Fintech Week 2025 promises to be the largest ever. Scheduled for October 7-9, the event will bring together CEOs and leaders across many sectors, including oil and gas, aviation, education, entertainment, agriculture, and FMCG, to discuss how fintech can improve efficiency in every part of the economy.
Dr. Jameelah Sharrief-Ayedun, Vice President of FintechNGR and Chair of the NFW Committee, emphasized this year’s plan to hold events simultaneously in Lagos, Abuja, Delta, and Enugu. This expanded footprint aims to make fintech accessible beyond the usual hubs, inviting participation from all regions and industries.
The Nigeria Fintech Week 2025 will be a key platform to watch for fresh ideas and partnerships shaping the nation’s digital tomorrow.
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