Presidency: RegTech key to financial inclusion, trusted digital economy

The Presidency has identified Regulatory Technology (RegTech) as an instrument for achieving financial inclusion and building a trusted digital environment capable of driving Nigeria’s economic agenda. Addressing partipants at the 2026 RegTech Africa Conference and Expo at the State House Conference Centre, Abuja, on Wednesday, the Technical Adviser to the President on Economic and Financial […]

The Presidency has identified Regulatory Technology (RegTech) as an instrument for achieving financial inclusion and building a trusted digital environment capable of driving Nigeria’s economic agenda.

Addressing partipants at the 2026 RegTech Africa Conference and Expo at the State House Conference Centre, Abuja, on Wednesday, the Technical Adviser to the President on Economic and Financial Inclusion, Dr. Nurudeen Abubakar Zauro, said the present administration sees digital trust and inclusive infrastructure as pillars for delivering the administration’s economic goals.

He said the present administration’s Renewed Hope Agenda recognises that millions of citizens still remain outside the formal financial sector, adding that sustainable economic growth requires stronger confidence in digital financial systems.

Delivering his keynote address at the conference, Zauro said Nigeria must move beyond reliance on natural resources and position itself among nations building trusted digital ecosystems capable of expanding opportunities for citizens.

He described RegTech as “the intelligent bridge between innovation and accountability,” noting that technologies such as artificial intelligence, blockchain, digital identity systems and real-time analytics would improve fraud detection, strengthen consumer protection and lower barriers preventing underserved populations from accessing financial services.

He further explained that ongoing interventions under the Presidential Committee on Economic and Financial Inclusion (PreCEFI) are supporting digital public infrastructure, consumer trust frameworks and inclusive onboarding systems to ensure that geographical location, income levels or lack of formal identification do not exclude citizens from the financial system.

Zauro added that achieving Nigeria’s target of becoming a one-trillion-dollar economy by 2030 would require stronger partnerships among regulators, financial institutions, technology firms and development partners.

Speaking earlier, Chairman of the Organising Committee of RegTech Africa Conference and Expo, Cyril Okoroigwe, described the gathering as a strategic, aimed at addressing emerging opportunities and risks confronting Africa’s fast-growing digital economy.

Okoroigwe said the conference theme, “Building Trust, Infrastructure, Inclusion and Policy for a Borderless Economy,” reflected urgent priorities for African economies.

According to him, Nigeria alone currently accounts for more than 70 million active mobile money and digital wallet users, while over 10 billion instant payment transactions valued above ₦1,000 trillion were processed in the country in 2025.

He however warned that the rapid growth has also exposed vulnerabilities.

“Fraud and financial crime losses across Africa’s digital payment ecosystem are estimated in billions of dollars annually, while cross-border remittance costs remain among the highest globally at over eight per cent,” he said.

Also speaking, Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, represented by Director of Payments System Supervision Department, Dr. Rakiya Opemi Yusuf, explained that effective regulation remains essential for sustainable digital innovation.

She said, “Our objective is not simply to regulate innovation, but to create an environment in which innovation can thrive responsibly; one supported by clear rules, resilient infrastructure, effective oversight and a deliberate commitment to inclusion,” he said.

The CBN Governor noted that future financial supervision across Africa would increasingly rely on predictive analytics, automation, real-time monitoring and stronger regional cooperation.

He also said the success of continental initiatives such as the African Continental Free Trade Area (AfCFTA) would depend on trusted cross-border payment systems and harmonised regulatory frameworks.