Nigerian fintech startup PiggyVest has pushed for coordinated initiatives to improve financial integrity, literacy, and inclusiveness across the country. This was revealed at a casual roundtable discussion hosted by PiggyVest in Lagos, where leaders of the Nigerian fintech industry spoke about the country’s financial environment.
The co-founder and chief operating officer of PiggyVest, Odun Eweniyi, emphasized the urgent need for financial literacy instruction and urged cooperation between humanitarian organizations, governments, and fintech companies.
“I don’t know how we’re going to do it, but collaboration is the first point to getting started,” she remarked, referring to the enormous scope of the task. “These discussions are still relevant, and I’m excited for more roundtables in the future.”
She also expressed excitement for upcoming talks and emphasized the significance of teamwork in closing the large education gap.
Speaking about some of the main topics covered at the event, Nigeria Data Protection Commission Head of Innovation Unit Chidera Ike-Okonkwo said it was intriguing to see a fintech platform like PiggyVest organize a gathering focused on problems related to Nigerians who are in debt and some of the causes of their debt.
She expressed her hope that the conversation would result in even more ingenuity and a solution to these problems for Nigerians.
Akintunde Oyebode, the Commissioner of Finance for Ekiti State, applauded PiggyVest’s initiative while pointing out the dearth of trustworthy consumer data available in the market. He underlined the importance of the report for decision-makers and businesses across a range of industries.
The prevalence of debt, especially from lending apps, was a major topic of discussion. It was found that about half of Nigerians are in debt, and that 75% of them owe money to loan applications.
