Remita Leads Innovation at Nigerian Fintech Week, CEO Joins FintechNGR Council
Indigenous fintech firm, Remita Payment Services Limited (RPSL) has reaffirmed its commitment to sectoral growth and transformation at the seventh edition of the Nigerian Fintech Week (NFW) held recently in Lagos.
The Nigerian Fintech Week has become Africa’s foremost gathering of fintech innovators, industry leaders, and trailblazers. Remita’s sponsorship of the event underscores its unwavering dedication to the development of financial technologies for the empowerment of people, businesses and nations across the African continent.
Chief Technology Officer of Remita, Mujib Ishola joined a distinguished panel of experts, including Rodger Werkhoven, Independent Creative Director at OpenAI; Carmelle Cadet, Founder and CEO of EMTECH; and Gbolahan Atoyebi, Head of FSI Sales at MainOne, to discuss “Africa’s Tech in the Age of AI.”
The session delved into the promises and challenges of Artificial Intelligence (AI) within Africa’s unique context.
Ishola expressed concern about the current overreliance on black-box AI models, warning of the risks this poses to the continent.
He said, “We’ve been discussing AI in silos for some time, but the real concern lies in our overconsumption of black-box models. While promising, these models often come with unseen biases, as they are trained on data that may not fully reflect our realities. The question is, how can Africa benefit from these technologies if we don’t have the infrastructure to build them ourselves? Without open and honest collaboration, we risk missing out on the transformative potential AI could have for financial inclusion and beyond.”
Managing Director of Remita, ‘DeRemi Atanda in his keynote address titled “From Financial to Economic Inclusion: The Fintech Ecosystem Connection,” emphasised the need for fintech players to drive tangible economic growth, not just impressive figures.
He said “The fintech ecosystem has seen a remarkable 243% growth, yet this has not resulted in GDP per capita growth. The data compels us to reflect on our approach and ensure that fintech’s expansion contributes meaningfully to economic outcomes. Fintech players must ask themselves, what is the reality of our role as catalysts for economic change? It’s no longer enough to generate impressive figures; we must ensure that our innovations drive tangible economic growth.”
He also highlighted the importance of nurturing a robust tech talent pipeline to sustain the industry’s growth and impact.
“Tech talent is the lifeblood of the fintech industry. We must continuously nurture and expand this pipeline, ensuring that these talents create value not only locally but globally,” he added.
The event also witnessed the inauguration of new members to the Governing Council of the Fintech Association of Nigeria, in which Atanda was appointed to serve on the council, alongside the newly elected president, Dr Stanley Jacob, CEO of Zest Payments Limited.
Commenting on his new role, he said, “Being part of the governing council comes with the responsibility of pursuing a collective vision for fintech in Nigeria. By fostering partnerships and ensuring inclusive stakeholder engagement, we aim to add 100,000 new members to the association in the coming year. This will not only spur growth but also further position Nigeria as a leading fintech hub on the continent.”
