Connect with us

Science & Technology

We’ll enact policies for fintech innovation — FG

Published

on

Policies

Lagos, April 24, 2019 Mr Lanre Osibona, Senior Special Assistant to the President on ICT, says Federal Government plans to enact policies that will encourage innovation and dynamism in the financial technology space.

Osibona made this known on Wednesday during the First Edition of the FINTECH Week 2019 held in Lagos.

The theme of the event was FinTech: “Exploring the huge opportunities”.

He said that aside from enacting policies, digital infrastructure was also critical to the scaling of fintechs.

The presidential aide on ICT said that enacting policies and building digital infrastructure would help the country towards becoming a digital economy.

“The approach to new technology investment initiatives of this administration ensures that there is associated skills transfer and human capacity development inline with the Executive Order 005.

“This is because there is a huge opportunity to ride on the fourth industrial revolution towards economic diversification and growth, social inclusion, job creation and transparency of process across sectors,” he added.

Osibona noted that the recent Payment Service Bank framework would position Nigeria as the digital economy giant.

“Digital financial services is a critical pillar of a robust digital economy.

“We are determined to bring affordable digital financial services to people who are currently unbanked or underbanked.

“We have also developed a data protection and privacy bill to ensuring trust between the government and citizens.

On ensuring cybersecurity, he said that the government was developing a robust cybersecurity framework following the outcome of the cyber security assessment initiated.

He said that government would collaborate with the private sector in developing policies and regulations that would address the challenges of data sovereignty, data ownership and commercialisation of data.

“We can not be defensive in our approach as no one can hold down the pace of development. We must be more proactive in ensuring that we prepare for the opportunities that the future will present to us,” he said.

Osibona, however, said that a big hindrance to the digital economy was the lack of connectivity and supporting infrastructure.

Load more

Contact US: editor[at]nnn.com.ng, nnnnews247[at]gmail.com

Recent Posts

February 2020
MTWTFSS
« Jan
12
3456789
10111213141516
17181920212223
242526272829

NNN News Nigeria: NNN is an online Nigeria news portal that publishes breaking news in politics, business, entertainment, sport, security, features, opinion, environment, education, technology, and the world news at large. NNN publishes only news that is factual, credible, verifiable, authoritative and investigative. NNN is a media subscriber of the News Agency of Nigeria. NNN is a unique media organization that is founded in the spirit of Article 19 of the Universal Declaration of Human Rights, comprising of ordinary people with an overriding commitment to seeking the truth and publishing it without fear or favor. Contact: editor[at]nnn.com.ng

© 2014 - 2019 NNN News Nigeria. All Rights Reserved.