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Technology-enabled solutions are increasingly becoming part of everyday life in Nigeria, helped by a combination of a largely young and tech-savvy population, deepening broadband penetration, and widespread mobile connectivity. The Covid-19 pandemic has only further accelerated the transition to digitally-enabled lifestyles with more and more Nigerians adopting technology to live a simpler life.
While this growing digital culture permeates all aspects of life, from the way we work, shop, commute, and even entertain ourselves, financial services in the country are still provided largely via manual processes, and many Nigerians are subject to several restrictions that come with the existing banking system. The spending limits on bank-issued naira-denominated debit cards Nigerians use for dollar payments readily comes to mind. Also, there is a significant number of adults that remain outside of the financial inclusion umbrella due to the limitations of th