By Joy Onuorah
To drive financial inclusion and deepen financial literacy, Kashifu Inuwa, Director General of the National Information Technology Development Agency (NITDA), has called for robust collaboration within Nigeria’s FinTech ecosystem.
Speaking at the 6th FirstBank FinTech Summit in Lagos, Inuwa emphasized that teamwork between regulators, innovators, and financial institutions is essential to create impactful policies and solutions that serve all Nigerians.
A Framework for Collaboration
Highlighting NITDA’s regulatory approach, Inuwa stressed the importance of the agency’s Regulatory Intelligence Framework. This strategy prioritizes market creation, innovation enablement, consumer protection, and effective service delivery.
Rather than imposing rigid rules, NITDA employs a participatory model that emphasizes co-creation and dialogue with stakeholders.
“Our approach involves designing policies alongside implementers. Collaboration is at the heart of everything we do,” he explained.
This model, he added, was instrumental in the success of Nigeria’s cashless policy, which NITDA co-developed with the Central Bank of Nigeria (CBN). The collaboration spurred banks to upgrade their infrastructure and inspired FinTechs to create innovative solutions addressing gaps left by traditional banks.
Driving Inclusion Through Digital Skills
Inuwa also shed light on NITDA’s efforts to bridge the digital divide, a crucial barrier to financial inclusion. The agency launched a National Digital Literacy Framework, integrating digital skills into formal education and training over 17,000 NYSC members annually.
Beyond formal sectors, the initiative targets artisans, market women, and senior citizens, aiming to equip millions with basic digital skills.
“Our goal is to connect the unconnected, foster trust in digital platforms, and empower underserved communities,” he stated.
Building Local Capacity
Addressing Nigeria’s reliance on foreign cloud services, Inuwa called for strengthening in-country cloud capabilities to safeguard data sovereignty and empower local FinTechs.
He revealed ongoing collaborations with global and local providers to establish secure cloud infrastructures within Nigeria.
Additionally, the DG highlighted the development of cybersecurity frameworks to build trust in digital platforms.
By working with the Federal Inland Revenue Service (FIRS) on electronic invoicing guidelines, NITDA is creating new opportunities for FinTech innovation.
“With the right collaboration and focus on inclusive policies, we can bridge the digital and financial divides,” he concluded.
The session also featured insights from notable industry leaders, including Premier Oiwoh (MD & CEO, NIBSS), Bashir Are (CEO, Lagos Lotteries & Gaming Authority), and Adewale Salami (CIO, FirstBank).
