Fidelity bank card banner Camano banner
Fintech innovations in Nigeria, FG to enact policies

By News Express on 01/05/2019

Views: 567

 •Ogbonnaya Onu, Minister of Science and Technology
•Ogbonnaya Onu, Minister of Science and Technology

The federal government plans to tap into the huge opportunities in the fourth industrial revolution that tilts towards economic diversification and growth, social inclusion for job creation and transparency of processes across sectors.

Mr Lanre Osibona, senior special assistant to the president on ICT made the disclosure during the first edition of the FINTECH Week 2019 held in Lagos, saying that the federal government plans to enact policies that will encourage innovation and dynamism in the financial technology space.

At the event which had the theme, “Exploring the huge opportunities,” Osibona said that aside from enacting policies, digital infrastructure was also critical to the scaling of FINTECHs as enacting policies and building digital infrastructure would help the country towards becoming a digital economy.

“The approach to new technology investment initiatives of this administration ensures that there is associated skills transfer and human capacity development in line with the Executive Order 005. This is because there is a huge opportunity to ride on the fourth industrial revolution towards economic diversification and growth, social inclusion, job creation and transparency of process across sectors,” he said.

Noting that the recent Payment Service Bank framework would position Nigeria as the digital economy giant, Osibona said “digital financial services are critical pillars of robust digital economies. We are determined to bring affordable digital financial services to people who are currently unbanked or under banked. We have also developed a data protection and privacy bill to ensuring trust between the government and citizens.”

On ensuring cyber security, he said that the government was developing a robust cyber security framework following the outcome of the cyber security assessment initiative; saying to that extent, government would collaborate with the private sector in developing policies and regulations that would address the challenges of data sovereignty, data ownership and commercialisation of data.

“We cannot be defensive in our approach as no one can hold down the pace of development. We must be more proactive in ensuring that we prepare for the opportunities that the future will present to us,” he said.

Osibona, however, bemoaned lack of connectivity and supporting infrastructure as big hindrance to this desire for a full scale digital economy.

Source News Express

Posted 01/05/2019

 

 

CLASSIFIED ADS

 

You may also like...
Single and Still Searching: Nollywood’s most eligible spinsters...

Celebrating ability in disability

Rita Dominic offers reprieve to sexually abused women...

KCEE celebrates African women with ‘DohDohDoh’

Revealed: Latest weird passion of star actress Omotola...

Dino Melaye is born again!

Man arrested for alleged sex trafficking in connection...

Crown for boobs star, Uju Edochie

DJXgee’s last wish before he committed suicide

Na orisirisi sisi dem full for Lagos road...

POETIC CORNER - But for the kids

Wetin dey inside woman pant?

 

UBA Wise Savers Promo

 

ICT Monitor
Latest News Airtel wins award for contributions to economy, job creation NSE clears MTN for listing in Nigeria Partnership will deepen financial inclusion across Africa — Visa, Palmpay ALTON reiterates consequences of demolishing 7,000 masts by NCAA Fintech innovations in Nigeria, FG to enact policies MTN ready for listing on NSE Google ‘retaliating’ after worker protest 95m subscribers have invalid SIM data – NCC National Broadband Conference holds June 6 NCC grants MTN more spectrum after protracted tussle Panic in White House after man sets himself on fire MTN enlightens UniAbuja students on 4G

 


Most Read ATCON holds symposium on post-Nigeria National Broadband Plan (1,264 views) Why hackers target financial data of banks — Expert (1,218 views) Panic in White House after man sets himself on fire (1,177 views) Glo signs deal with Nokia Alcatel-Lucent •Bella Disu, Patrick Pouyanné, Aliko Dangote, 147 Global CEOs attend Choose France Summit at Château de Versailles (1,085 views) Adopt technologies in future elections, ATCON urges FG (1,043 views) Neglect of internet speed leaves Nigeria at 107th position (1,006 views) Airtel Touching Lives invites nomination of beneficiaries for fifth edition (980 views) Skool Media assures quality education, opens teachers and students experience centres (963 views) 5G presents security challenge for telecom operators (933 views) Understanding 5G wireless technology (918 views) Varsity develops tool to detect, stop cyber attacks (917 views) Airtel, banks, TraderMoni empower IDPs (916 views)

 

Africa Media Agency and Al Jazeera