Amid growing frustrations over persistent glitches in online financial transactions, the Federal Government has convened a high-level meeting with key stakeholders to establish a harmonised regulatory framework aimed at addressing the systemic challenges affecting Nigeria’s financial services sector.
The session, chaired by the Special Adviser to the President on Economic and Financial Inclusion, Nurudeen Zauro, focused on developing strategies to streamline digital transactions and restore consumer confidence. Zauro highlighted that the government is working on initiatives to simplify payments, savings, access to credit and insurance, and to help Nigerians manage financial risks, build wealth, and invest in business opportunities.
Noting widespread public dissatisfaction with the current state of financial inclusion, Zauro announced the government’s intention to pursue legislative measures to strengthen consumer protection and trust in the system.
He urged stakeholders to prioritise transparency, establish clearly defined complaint channels for customers, and collaborate to close regulatory gaps that hinder progress in national financial inclusion efforts.