Nigerian Fintech Association Hosts Seminar on DeFi’s Economic Impact

January 10, 2024

2 minutes read

Nigerian Fintech

On January 10, 2024, the Nigerian Fintech Association held a seminar in Lagos dedicated to exploring decentralized finance (DeFi) and its potential to reshape the Nigerian economy. This event gathered a wide array of participants, including fintech entrepreneurs, investors, regulatory representatives, and academics, all keen to discuss the opportunities and challenges that DeFi presents.

Prominent speakers included Adedayo Adetunji, CEO of a leading Nigerian fintech firm, and Aisha Yesufu, a respected activist advocating for technology-driven solutions. Their presentations emphasized how DeFi could enhance financial inclusion and empower individuals economically.

The seminar was hosted at the Eko Hotel and Suites, a notable venue for conferences in Lagos. Participants engaged in panel discussions and workshops aimed at clarifying DeFi concepts and examining their practical applications in Nigeria. The event also provided networking opportunities, fostering collaboration among fintech stakeholders.

With over 200 million inhabitants and a significant unbanked population, Nigeria is primed for DeFi adoption. The technology can offer financial services without the constraints of traditional banking, potentially enabling millions to participate in economic activities. Adetunji stated, “DeFi can democratize access to financial services, allowing many Nigerians to engage in the economy in unprecedented ways.”

While enthusiasm for DeFi is high, the seminar addressed critical challenges such as regulatory ambiguity, cybersecurity risks, and the need for a solid technological foundation. Yesufu highlighted the necessity of building user trust, noting, “For DeFi to truly take off in Nigeria, we need to ensure that users feel secure and confident in the platforms they use.”

The Nigerian Fintech Association’s seminar is a vital step toward fostering understanding and dialogue surrounding DeFi in Nigeria. As the nation aims to leverage technology for economic development, events like this are crucial for creating a more inclusive financial ecosystem.

Share:
Subscribe
Notify of
guest
0 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

Related Links

Nigeria Sets 16 as Minimum Age for University Admission

The Federal Government of Nigeria has established 16 as the minimum age for admission into ...

Red sea

Germany Summons Chinese Ambassador Over Incident in Red Sea

Germany summoned China’s ambassador to Berlin on July 8, 2025, after a Chinese warship allegedly ...

CHOLERA

Sudan Faces Malnutrition and Cholera Crisis Amid Ongoing Conflict

In El Fasher, the capital of Sudan’s North Darfur province, nearly 40% of children under ...

Russia

Ex-Russian Minister Starovoit Dies in Apparent Suicide

Russia’s former Transport Minister Roman Starovoit, 53, was found dead with a gunshot wound in ...

Features

Netherlands Returns 119 Looted Benin Bronzes to Nigeria

On Thursday, June 26, 2025, the Netherlands returned 119 looted artifacts, known as the Benin ...

Ngugi-wa-Thiongo

Ngũgĩ wa Thiong’o:Passed the pen to the Next Generation.

Ngũgĩ wa Thiong’o, a legendary Kenyan writer, scholar, and revolutionary voice in African literature passed ...

ECOWAS

ECOWAS Celebrates 50th Anniversary Amid Sahel States Tensions

On May 28, 1975, fifteen West African nations signed the Lagos Treaty, establishing the Economic ...

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

What Really Moves Bitcoin’s Price? A Comprehensive Guide to the Key Drivers of Volatility and Value

​Bitcoin, the pioneering cryptocurrency, has captivated the financial world with its innovative technology and notable ...

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea Sets September 2025 Date for Constitutional Referendum as Military Inches Toward Democratic Transition

Guinea’s military-led government has officially announced that a national referendum on a new constitution will ...

Ivory Coast economic growth

Côte d’Ivoire’s Economic Boom Faces Political Test in 2025 Election

Ivory Coast’s Economic Success: A Model for West Africa Côte d’Ivoire has emerged as one ...

Phillis Wheatley

Phillis Wheatley: The Trailblazing African American Poet Who Defied Oppression

Phillis Wheatley: A Pioneer in Black Literature and Poetry Phillis Wheatley was a groundbreaking poet ...

Women Participation in Politics

International Women’s Day 2025: Advancing Rights, Equality, and Leadership for African Women

The 2025 International Women’s Day (IWD) theme, “For ALL Women and Girls: Rights. Equality. Empowerment,” ...

Latest News

Today in History

July 8th is the day in 1808 that Joseph Bonaparte approves the Bayonne Statute, a royal charter intended as the basis for his rule as king of Spain.

Exchange Rate Per Dollar

AM Armenian Dram383.9665
GH Ghana Cedi10.4109
GM Gambian Dalasi71.5
GN Guinea Franc8,661.17
NG Nigerian Naira₦1,531.76
CF CFA Franc BEAC559.4199
08 Jul · CurrencyRate · USD
CurrencyRate.Today
Check: 08 Jul 2025 21:05 UTC
Latest change: 08 Jul 2025 21:00 UTC
API: CurrencyRate
Disclaimers. This plugin or website cannot guarantee the accuracy of the exchange rates displayed. You should confirm current rates before making any transactions that could be affected by changes in the exchange rates.
You can install this WP plugin on your website from the WordPress official website: Exchange Rates🚀

YOUR THOUGHTS

Let us know what you think

Contact the People’s Paper with feedback on stories and how we could make wapress.africa even better!

newsletter image

Stay up to date with the latest from West Africa Press

Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on WApress.

Subscribe Newsletter!

Be the first to receive our latest contents and more...

Need help?