NCC, Moniepoint, and Other major stakeholders back NITRA FINTECH forum

As the Nigeria Information Technology Reporters Association (NITRA) readies itself for its upcoming stakeholder engagement event, the NITRA FINANCIAL TECHNOLOGY (FINTECH) FORUM 2023, the Nigerian Communications Commission (NCC), the country’s telecommunications regulator, has thrown its support behind the event.

Telescope.ng reports that the event, scheduled for October 26, 2023, at CitiHeight Hotel in Ikeja, has also garnered the endorsement and collaboration of Moniepoint MFB, an all-in-one payments, banking, and operations platform.

Under the theme “Harnessing Nigeria’s Fintech Potentials: Challenges And Opportunities,” the NITRA FINTECH FORUM will assemble key players from the financial technology sector, as well as the broader ICT industry, spanning both public and private sectors. They will convene to discuss ways to expedite growth within the Fintech sector, aligning with the ambitious targets and policies set by the federal government.

The event will delve into discussions surrounding policy documents and regulations, with panel sessions focused on “Building Infrastructure to Foster Fintech in Nigeria: The Collaborative Approach” and “Fintech and the Role of Regulatory Engagement.”

Then Minister of Communications, Innovation and Digital Economy, Bosun Tijani is expected to deliver the Lead Speech, while the Governor of the Central Bank of Nigeria (CBN) and the Executive Vice Chairman of Nigerian Communications Commission (NCC) are to present Keynotes. Chief Executive Officer of the Federal Competition And Consumer Protection Commission (FCCPC); CEOs of other government and private ICT companies, the Media, including the full membership of NITRA and other stakeholders in the industry, including COOs, CIOs, CFOs, CROs and CCOs, while also join the Panel Discussions to chart the way for a viable financial technology sub-sector in Nigeria. Industry Associations expected at the forum include ALTON, ATCON, NCS, ISPON, ITAN, CPN, and NiRA, among others.

The chairman of NITRA, Chike Onwuegbuchi, speaking about the event, noted: “While looking at the benefits of developing a robust Fintech ecosystem in Nigeria, stakeholders will also discuss the challenges that hamper or may hamper this drive – these will include the roles of infrastructure, funding, policies and collaboration; and seek ways of tackling these challenges effectively.”

He noted that with the backing of another key financial technology firm, Moniepoint, the NITRA Fintech Forum will be robust with discussions that will move the industry further.

Moniepoint Microfinance Bank is the definitive bank for small and medium-sized businesses in Nigeria and is regulated by the Central Bank of Nigeria (CBN). Moniepoint MFB was also awarded by the CBN in 2022 as the most inclusive payment platform in the country.

The MFB received its license in February 2022 and helps over 1.5 million businesses with banking, payment processing, access to loans and business management tools. With these solutions, businesses on the moniepoint platform process about 8 trillion Naira monthly.

Moniepoint operates the largest distribution network for financial services in Nigeria, and over 33 million people use their cards on its POS terminals monthly across every local government in Nigeria.