In a recent declaration, Titilayo Akinseye, a prominent accounting and taxation expert, has emphasized the need for the Nigerian government to focus on stabilizing the nation’s economy to foster the sustainable growth of its burgeoning FinTech sector.
Armed with a Master’s degree in Business Administration from the University of East London, Akinseye, who has become a respected voice in the field, asserts that such stabilization is critical for advancing financial technology innovations in the country.
In her media statement, Akinseye expressed her firm belief in the FinTech industry’s potential to significantly enhance financial inclusion across Nigeria. She emphasized that for the sector to reach its full potential, adequate funding and government support are indispensable.
“The government bears a crucial responsibility in stabilizing the economic landscape, creating an attractive environment for investors, and thereby nurturing the FinTech industry’s expansion,” Akinseye stated.
Akinseye also highlighted the importance of fostering a culture of innovation within the FinTech sector. She advocates for stronger collaboration between start-ups, established corporations, and financial institutions as a means to drive technological advancements and diversify service offerings.
Delving deeper into the role of government in this equation, Akinseye noted, “The government’s role in facilitating a thriving FinTech ecosystem in Nigeria cannot be overstated. There is a pressing need for the establishment of clear, adaptive regulations that not only spur innovation but also safeguard consumer interests.”
She further pointed out that government initiatives should prioritize enhancing digital infrastructure, which is fundamental to the FinTech sector’s growth. This encompasses the improvement of internet connectivity, digital payment systems, and robust cybersecurity measures, thereby creating a secure and efficient technological environment.
As a member of esteemed professional bodies such as the Institute of Chartered Accountants of Nigeria (ICAN) and the Chartered Institute of Taxation of Nigeria (CITN), Akinseye’s insights carry significant weight in the sector. She suggests that creating a nurturing environment for FinTech start-ups through financial incentives, tax reliefs, and regulatory support is key to catalyzing the emergence of new ventures.
