By Peter Egwuatu

Stakeholders in the digital space have called on the Federal Government to underwrite the risk in the Fintech space to enable them compete in a more favourable environment.

They stated this at the third edition of the “Grow Nigeria Conversation” which focused on using FinTech to create opportunities, employment and wealth at the Co-Creation Hub, in Lagos last Monday.

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Speaking at the event the convener, the former Senate President, Dr. Abubakar Bukola Saraki, said, “with over 33.3 per cent or 23 million of Nigeria’s working-age population out of work, we must begin to look into how we can create more job opportunities for more young Nigerians using FinTech.

“We must discuss the strategic interventions that the government and the private sector can embark on to enable financial technologies expansion across the country.”

According to Saraki, Nigeria must look at how Fintech companies in Asia-Pacific pulled in $2.35 billion in investment during the first three months of this year alone, more than the total amount raised in the first half of 2020.

The speakers at the event agreed that FinTech is the most relevant infrastructure in the digital age stressing that FinTechs have transformed the way we do things especially in the financial sector.