Building Trust Through Equitable Financial Systems
Vice President of the Fintech Association of Nigeria (FintechNGR), Dr. Jameelah Sharrieff-Ayedun, has emphasized that fairness should be prioritized over mere transaction volume in Nigeria’s digital finance ecosystem.
Speaking at the recent Payments Forum Nigeria (PAFON 3.0), Dr. Sharrieff-Ayedun noted that while the country boasts impressive payment statistics—with instant transactions exceeding ₦600 trillion in 2024 alone, according to NIBSS—true financial inclusion requires more than just speed and convenience.
“Volume is not inclusion. Activity is not empowerment,” she stated through a representative from CreditRegistry, where she serves as Managing Director/CEO.
Addressing Nigeria’s Financial Paradox
Despite advancements in digital finance reaching 64% of the adult population (largely driven by mobile money and fintech innovation), significant gaps remain. Nearly 26% of Nigerian adults remain completely financially excluded, while many others operate at the margins.
Dr. Sharrieff-Ayedun described this as Nigeria’s “financial paradox”—where advanced payment infrastructure exists alongside persistent exclusion—and cautioned against mistaking progress for completion.
The Pillars of Fair Digital Payments
She outlined three essential pillars for building equitable digital payment systems:
- Transparency: Clear understanding of all charges without hidden fees
- Reliability: Seamless and dependable transactions
- Accessibility: Systems designed to serve all demographics, including underserved populations
These elements collectively foster trust—which she termed “the true currency of financial systems”—and enable the conversion of transactional data into meaningful credit intelligence.
CreditRegistry plays a key role in this transformation by providing deeper financial visibility that extends beyond basic payment records to reveal character and creditworthiness, helping unlock pathways to credit, economic mobility, and generational wealth for millions of Nigerians.