Demands for expanded financial Inclusion is on the ante, with experts describing it as key driver of economic growth, revenue mobilisation and the expansion of Nigeria’s digital economy
So is an expanded digital payment infrastructure, they stated at the 10th anniversary celebration of Xpress Payments Ltd..
The programme which ran under the themes “A Decade of Innovation, A Future of Possibilities”, was addressed by the Managing Director of Xpress Payments Ltd., Mr Akin Fanimokun, Managing Partner of Verraki Partners, Mr Olaniyi Yusuf , and the Managing Director and Chief Executive Officer of Shared Agent Network Expansion Facility (SANEF) Ltd., Ms Uche Uzoebo
Underscoring the need for expanded financial inclusion and expanded digital payment infrastructure, Mr Fanimokun said resilient and secure payment systems had become essential to business operations, government revenue collection and financial inclusion.
“Our purpose is to simplify and enable smarter payments. We are positioned to become an integral part of our customers’ lives through seamless, secure and easy-to-use products that create convenience and confidence,” he said.
He added this had made his company invest heavily in switching and processing infrastructure, including disaster recovery systems, to enhance transaction efficiency and payment security.
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Fanimokun said the firm had expanded beyond switching services into Payment Solution Service Provider (PSSP), Payment Terminal Service Provider (PTSP), third-party processing and non-bank acquiring operations.
Managing Partner of Verraki Partners, Mr Olaniyi Yusuf, who delivered the keynote address at the event, also underscored expanded financial Inclusion, submitting that Nigeria had developed one of Africa’s most advanced real-time payment systems.
He noted that the next phase of growth would depend on stronger trust frameworks, improved infrastructure resilience and enhanced consumer protection.
“Nigeria has built impressive payment rails. The next decade is not about more rails; it is about how trustworthy the rails are and who we allow to ride them,” he said.
According to him, about 28.9 million Nigerian adults remained outside the formal financial system, stressing the need for broader financial inclusion.
He called for deeper collaboration among regulators, financial institutions and telecommunications operators to strengthen the digital payments ecosystem.
For the Managing Director and Chief Executive Officer of Shared Agent Network Expansion Facility (SANEF) Ltd., Ms Uche Uzoebo, resilient egulatory frameworks were vital to protecting consumers and sustaining confidence in digital financial services.
She urged operators to see regulators as strategic partners and to take advantage of existing initiatives such as the Central Bank of Nigeria’s regulatory sandbox to develop innovative solutions.
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