Industry leaders and regulators have emphasised the need for trust, resilience, and strong regulatory frameworks to support the rapid growth of digital finance in Nigeria.
Speaking at the “Banking on the Cloud: Regulation, Resilience and the Next Scale Curve” forum in Lagos, the representative of the Director of the Payments System Policy Department at the Central Bank of Nigeria, Dr. Chikelu Edison Oballum, highlighted the importance of building secure systems capable of supporting the country’s expanding digital payments ecosystem.
Oballum noted that as digital transactions continue to grow exponentially, financial institutions must ensure their infrastructure can withstand risks and maintain public confidence.
“Today’s conversation is about trust, resilience, and Nigeria’s readiness for the next phase of global digital finance. Innovation is happening at speed, but the key question is whether our systems are strong enough to manage shocks, mitigate risks, and sustain confidence,” he said.
Industry collaboration for secure digital finance
The forum brought together senior technology leaders from Nigeria’s banking and fintech sectors to discuss strategies for scaling digital finance securely while maintaining regulatory integrity.
The event was convened by Vontech Group in collaboration with Amazon Web Services, Redington, and B4B Partners.
Chief Executive Officer of Vontech Group, Jeffery Idehen, said Nigeria’s financial sector is entering a critical phase where growth, resilience, and regulatory clarity must evolve together.
“Strengthening financial infrastructure requires collaboration across the ecosystem—from regulators and banks to technology providers and innovators,” he said.
Focus on cloud infrastructure and payment systems
The forum also featured a fireside discussion involving Muhammad Aminu Lawal of the National Information Technology Development Agency and Oluseyi Adenmosun of the Nigeria Inter-Bank Settlement System.
Moderated by Brian Hayes of Amazon Web Services, the session examined how Nigeria’s rapidly expanding payments ecosystem can handle rising transaction volumes without creating systemic risks.
Building the future of fintech
Product Manager at Amazon Web Services for Redington Middle East and Africa, Gilbert Kiprono, said Nigeria’s fintech ecosystem is actively shaping the future of digital finance.
According to him, financial technology leaders in the country are building scalable payment systems under strict regulatory oversight, positioning Nigeria as a key player in the global digital finance landscape.
