MoniePoints Inc. has underscored the necessity of public-private collaboration to enhance financial inclusion in Nigeria. This was highlighted during a policy dialogue in Washington DC, which brought together Nigerian government officials and private sector stakeholders. MoniePoint emphasized that such partnerships are essential to overcoming barriers to the adoption of fintech solutions.
Tosin Eniolorunda, MoniePoint’s Group CEO and co-founder, stressed the importance of resolving trust issues to drive economic and financial inclusion. He stated, “MoniePoint is committed to promoting financial inclusion and financial happiness by building trust with the public and government, and improving access to the financial system.”
Eniolorunda also pointed to their recent report on Nigeria’s informal economy, which identifies opportunities to extend financial services to underserved communities.
The event at George Washington University featured key players from the government, regulatory bodies, law enforcement, and the fintech industry. Eniolorunda noted that the strategic discussions would significantly boost Nigeria’s economy through enhanced public-private partnerships, thereby strengthening the financial services sector’s overall development and competitiveness.
Vice President Kashim Shettima, speaking via video conference, highlighted the urgent need for financial innovation to support Nigeria’s economic agenda. He aligned this initiative with President Bola Tinubu’s goal of integrating over 30 million unbanked Nigerians into the formal financial sector.
The dialogue also addressed critical challenges such as regulatory oversight, security, and trust issues. Key figures, including Philip Ikeazor from the Central Bank and Inuwa Abdullahi from NITDA, emphasized the importance of ongoing collaboration and integrating digital and financial literacy to build trust in the payment ecosystem.
