Fintech Firms To Meet Lagos Officials Over Digital Economy Policy

• My Card Global and FintechNGR are organising a private fintech town hall in Lagos on November 20 to discuss the state's digital economy agenda.
• Expected participants include Communications Minister Bosun Tijani, Lagos Deputy Governor Kadri Hamzat and LIRS Chairman Ayodele Subair.
• Discussions will cover taxation, digital infrastructure, innovation and policies affecting fintech businesses in Lagos.

Legit.ng journalist Dave Ibemere has over a decade of experience in business journalism, with in-depth knowledge of the Nigerian economy, stocks, and general market trends.

Fintech companies, government officials and policymakers are expected to meet in Lagos this month to discuss taxation, digital infrastructure and other policies affecting the state's digital economy.

The private town hall, organised by My Card Global in collaboration with FintechNGR, is scheduled for Friday, November 20, 2026, at The George Hotel, Ikoyi.

The meeting will focus on developing policy recommendations for the Lagos digital economy agenda covering 2027 to 2031.

According to the organisers, the discussions will bring together government representatives, fintech founders, chief executives and other industry professionals to examine challenges facing businesses operating in the sector.

Expected participants include the Minister of Communications, Innovation and Digital Economy, Bosun Tijani; Lagos State Deputy Governor Kadri Obafemi Hamzat; and the Chairman of the Lagos State Internal Revenue Service, Ayodele Subair.

Iyinoluwa Aboyeji, co-founder of Andela, is also expected to attend.

Fintech firms to discuss taxation, infrastructure

The proposed discussions will cover taxation, digital infrastructure, innovation and the long-term growth of the state's digital economy.

Taxation is particularly relevant to fintech operators, which must navigate regulatory and tax requirements while developing payment services and other financial products.

Participants are expected to examine how government policies affect businesses and identify areas where changes could support investment and innovation.

The organisers said the meeting would provide an opportunity for private-sector operators to contribute their experience to the development of Lagos State's digital economy policy.

The outcome is expected to inform discussions around the state's 2027–2031 digital economy agenda.

However, the organisers have not disclosed specific policy proposals or commitments expected from the meeting.

The town hall comes as Lagos continues to position its technology and financial services sectors as part of its wider economic development strategy.

Banks vs Fintech

Earlier, Legit.ng Nigeria’s banking industry continued to strengthen its hold on customer funds in 2025, recording a sharp increase in retail deposits despite growing competition from financial technology firms.

An analysis of audited financial statements and investor presentations shows that retail deposits across six major banks rose to N39.01 trillion during the 2025 financial year, representing a 24% increase from N31.46 trillion recorded in 2024.

The growth highlights the enduring influence of traditional lenders in attracting and retaining customer deposits, even as fintech companies expand rapidly across the country’s digital payments landscape.

Despite the growing popularity of fintech platforms, traditional banks continue to benefit from factors such as salary accounts, extensive branch networks, regulatory oversight, and broader access to credit facilities.