The Director General of the National Information Technology Development Agency (NITDA), Kashifu Inuwa, has emphasized the need for collaboration among key players to advance FinTech and Digital Literacy. He shared this at the 6th FirstBank FinTech Summit, where he discussed policies and infrastructure for financial inclusion and innovation.
Inuwa stressed the importance of co-design and co-creation in NITDA’s regulatory framework. He highlighted that this approach aligns stakeholder interests with national goals. “At the heart of everything we do is co-designing and co-creation,” he said.
This strategy has driven successful initiatives in FinTech and Digital Literacy. For instance, NITDA partnered with the Central Bank of Nigeria (CBN) to implement the cashless policy. This effort prompted banks to improve their infrastructure and allowed FinTechs to address gaps in the financial ecosystem.
Digital Education: The Foundation for Financial Inclusion
NITDA has taken significant steps to bridge the digital divide. Through the National Digital Literacy Framework, the agency integrates digital education into formal systems. Collaborating with the Ministry of Education and the National Youth Service Corps (NYSC), it trains over 17,000 youths annually.
Plans are also in place to expand digital literacy to underserved groups. These include artisans, market traders, and senior citizens. Such efforts ensure that FinTech and Digital Literacy reach every sector of society.
Infrastructure development is essential for achieving financial inclusion. Inuwa highlighted the need for local cloud capabilities to ensure data sovereignty. Ongoing collaborations with hyperscale providers and local data centers aim to empower FinTechs and secure digital assets.
“Without operational sovereignty, we cannot fully control or secure our digital assets,” he stated. This move supports national security and strengthens FinTech and Digital Literacy efforts.
The journey toward financial inclusion requires innovation, collaboration, and digital education. By focusing on FinTech and Digital Literacy, NITDA is creating a more inclusive financial ecosystem that benefits all Nigerians.
