FintechNGR Celebrates Growth and Impact at 7th Annual General Meeting
The FinTech Association of Nigeria (FintechNGR), recognized as Africa’s premier national fintech association, successfully conducted its 7th Annual General Meeting (AGM) on June 4, 2024. This significant event gathered members and partners to reflect on the association’s progress and financial achievements throughout 2023.
Dr. Segun Aina (OFR), the esteemed Chairman of the Board of Trustees, warmly welcomed the attendees, expressing his appreciation for their steadfast support and active engagement in the Association’s initiatives. Dr. Aina stressed the critical importance of adhering to good governance practices, showcasing resilience, and ensuring regulatory compliance within the evolving fintech landscape.
He particularly emphasized the necessity for financial prudence and collaborative efforts to tackle prevalent challenges such as cybercrimes and regulatory hurdles. Dr. Aina’s address underscored the Association’s dedication to fostering a robust and secure fintech ecosystem.
Ade Bajomo, the outgoing president, delivered a compelling final report, shedding light on the remarkable expansion and accomplishments the Association experienced under his guidance. Bajomo proudly announced the membership had surged to 492 by the first quarter of 2024, covering 23 economic sectors, which now include the innovative Fashtech and PropTech segments. Moreover, he revealed that the Association’s revenue witnessed a significant growth, doubling from the previous year.
Dr. Babatunde Obrimah, the COO, in presenting the management report, identified an upward trend in digital asset activities alongside the latest regulatory adjustments from the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). This continued adaptation and compliance with evolving regulatory frameworks highlight the dynamic nature of Nigeria’s fintech sector.
Looking forward, FintechNGR is excited to host the Nigeria Fintech Week 2024, scheduled from October 8 to 10 at the prestigious Landmark Center in Victoria Island, Lagos. This hallmark event promises to champion further innovation, foster collaboration, and propel growth within the fintech sector.
As FintechNGR gears up for a transition with the forthcoming elections, there is a renewed commitment towards realizing the vision of positioning Nigeria as a leading hub for fintech innovation and investment. The incoming leadership is poised to build upon the solid foundation laid by their predecessors, aiming for greater global collaboration and nurturing the ecosystem’s expansive growth.
FintechNGR plays a pivotal role in accelerating fintech development and facilitating investment opportunities, all while fostering an environment conducive to innovation. By connecting fintech stakeholders both within Nigeria and internationally, and advocating for regulatory enhancements, FintechNGR is at the forefront of creating a flourishing fintech landscape. As a founding member of the Africa Fintech Network and a participant in the Global Fintech Hubs Federation, the association’s influence and reach extend far beyond the Nigerian borders, making it a key player on the global fintech stage.
