The prospects for a strategic collaboration that will deepen the penetration of technology firms in the Nigerian capital market, received a boost with the recent engagement between the Nigerian Stock Exchange and Fintech Nigeria Association.
This is coming on the heels of earlier engagements between the Stock Exchange and Fintech Nigeria.
Chairman of the Fintech Association of Nigeria, Dr Segun Aina, OFR, FCiB, in his remarks said the FintechNGR since inception had been focusing on driving emerging technology and supporting innovation in Nigeria through multi sectorial approach. This he said is aimed at coordinating the growth of the ecosystem and influencing policy and regulations towards positioning Nigerian Fintech as the African Fintech/innovation hub that leads the creation and deployment of indigenous solutions in solving indigenous challenges in the continent.
According to Aina, Fintech Nigeria has been engaging other regulators such as the Central Bank of Nigeria, National Insurance Commission, Securities and Exchange Commission amongst others.
The Fintech Nigeria boss revealed that that the Association has a strong membership base covering financial institutions, technology companies, payment vendors, system operators, investors, technology hubs including: Fintech Associates Ltd, Ecobank, Proshare, Accion Microfinance Bank, Lagos Business School, Banwo & Ighodalo, CcHub, Deloitte, Mastercard, Suntrust Bank, Stanbic IBTC, PwC and others as Founding Members
“The Exchange needs to key into the opportunities of leading the next industrial revolution which is anchored on applicable, accessible and affordable indigenous innovation and technology,” Aina said.
Also speaking at the event, a Member, Governing Council Member, Fintech Nigeria, Mr Tunji Eleso, said, “ Fintech Association is particularly passionate about seeing the Fintech ecosystem achieve its maximum benefits by head on regulation and policy that encourages innovation as its stimulates value based engagement within the ecosystem.”
The Acting Divisional Head, Capital Markets, Mr Tony Ibeziako welcomed the engagement with the FINTECHNGR, believing it was a mutual relationship, where Fintech companies can take their business objectives to the next level utilizing the Exchange. He was of the view that the partnership will showcase the opportunities in the Fintech ecosystem, considering the digitization process that is driving the current fourth industrial revolution.
Mr Ibeziako encouraged the FINTECHNGR to leverage the Nigerian Stock Exchange initiatives which will assist in driving corporate governance, visibility for the Fintech companies and boost the entire ecosystem.
“The session is strategic for the NSE as it gives the Exchange the opportunity to position itself as the active players in innovation, serving as springboard for budding Fintechs/SMEs to access funding, attain corporate governance and visibility as well as getting listed on the Exchange”.