Apochi, Others Brainstorm on Using Fintech to Promote Financial Inclusion

Ebere Nwoji

Issues bothering on  leveraging  on financial technology (Fintech) to promote financial inclusion, enhance the well-being of Nigerians and ensure sustainable economic growth  formed the thrust of discussions at the maiden edition of the Nigeria Fintech & Financial Inclusion Roundtable organised by Business Journal Media Group in Lagos.

Experts at the event which has the theme, “Role of Fintech & Financial Inclusion in Citizen Empowerment and Economic Growth,” stated that proper leverage of fintech would enhance the economy of the nation and take Nigerians out of poverty.

Delivering the keynote address at the event,  the Group Managing Director/CEO, Unified Payment Services Limited,  Dr. Agada Apochi stated that given the large number of Nigerians using mobile phones, liberating Nigeria out of poverty by leveraging fintech was achievable.

He said, “There are many more Nigerians having telephones than those having bank accounts. How can we leverage on the power of financial technology to deliver financial services for them so that they can be included- so that they will grow out of poverty?”

Also speaking, Managing Director/CEO, Human Manager Limited,  Mrs. Adekunbi Ademiluyi, noted that financial inclusion started with identity, adding that when an identity of an individual was known, then one could  open an account with the person.

She noted that Nigeria started well with financial inclusion, though, she observed that it had not yet gotten to where it should be, but pointed out that going by the way the fintech companies were working to ensure that every Nigerian was  included, and that Nigeria would get there.

In his opening remarks as Chairman of the occasion, the Group Chairman of Nigerian Exchange Group (NGX), Dr. Umaru Kwairanga, assured that by leveraging cutting-edge technologies like mobile platforms, big data analytics and distributed ledger systems, fintech has the power to democratise finance, breaking down barriers and extending access to financial services to the underserved and unbanked.