Fintech company MoniePoint Inc, has emphasized the significance of public-private partnership to promote financial inclusion in Nigeria.
A statement from Moniepoint on Thursday said that this was disclosed at a policy dialogue between the Nigerian government and private sector stakeholders held in Washington DC recently, according to The Punch.
During the engagement, Moniepoint Inc’s Group Chief Executive Officer/co-founder, Tosin Eniolorunda emphasized the value of working with the public and private sectors to address trust issues that have impeded the embrace of cutting-edge fintech solutions for financial and economic inclusion.
“Moniepoint has long championed the importance of financial inclusion and financial happiness. Building trust with the public and government, and improving business and consumer access to the financial system are critical issues that are aligned with our philosophy. As a testament to our commitment, we recently launched a landmark report investigating Nigeria’s informal economy, highlighting opportunities to widen financial inclusion to historically underserved communities.
“The outputs from this strategic gathering will go a long way in bolstering Nigeria’s economy even as closer linkages are formed from public-private collaboration which will be a huge boost to the overall development and competitiveness of the larger financial services industry,“ Eniolorunda said.
The event, which brought together leaders in the fintech sector, government officials, regulators, and law enforcement organizations at George Washington University, aimed to leverage innovative approaches to promote a sustainable and inclusive financial system in Nigeria.
Vice President Kashim Shettima, addressing the gathering via video conference, highlighted the urgent need for financial innovation to drive Nigeria’s economic and financial inclusion agenda.
“This aligns with President Bola Tinubu’s administration commitment to bringing over 30 million unbanked Nigerians into the formal financial sector as part of the Renewed Hope Agenda.
“We must develop a sustainable collaboration approach that will facilitate the adoption of inclusive payment to achieve our objective of economic and financial inclusion,” Shettima stated.
Moniepoint noted that the discussion centered on tackling important obstacles that have impeded the mainstream adoption of new financial solutions in Nigeria’s fintech sector, such as regulatory oversight, security concerns, and trust issues.
The Deputy Governor of the Central Bank of Nigeria on Financial System Stability, Philip Ikeazor emphasized that to achieve the objectives of the Aso Accord on Economic and Financial Inclusion, continued collaboration among stakeholders is necessary.
