The Nigerian Financial Services Market

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Are there really too many fintech startups? Get fact-based insights about this and many more from this report.
  • 300+ fintech platforms
  • Breakdown of 4k+ commercial bank branches
  • Breakdown of 1.5 million banking agents
  • Correlation between account ownership and phone type, proximity to banking institutions, income level, among others
  • Insight contributions by executives from Paga, Lendsqr, Moniepoint, Flutterwave, FairMoney, Remita Payment Services Limited, and Pay-U
  • Financial services-related regulatory frameworks and policies
  • Pointers to whether there are too many fintech startups in Nigeria or not
*The information used in this report was sourced from publicly available information, with some of them supplied by companies. Of the figures provided, this report only reveals what we were authorised to share.
  • Preface
  • Introduction
  • Methodology
  • Key Findings
  • The Industry
    • Top developing countries in the world by population
    • Top African countries by population
    • Nigeria's outward vs migrant inward remittances over the years
    • eBillsPay transaction volume and valye over the years
    • Point of Sales (POS) transaction volume and value over the years
    • Mobile money transaction volume and value over the years
    • Comparison of transaction valye across eBillsPay, POS, and mobile money over the years
    • Cheque transaction volume and value over the years
    • NIBSS Electronic Funds Transfer (NEFT) transaction volume and value over the years
    • NIBSS Instant Payments (NIP) transaction volume and value over the years
    • Comparison of transaction value across NEFT, NIP, and cheque over the years
    • Central Bank of Nigeria's e-Payment figures for 2021
  • Regulatory Authorities
  • Sustainable Development Goals
  • The People
    • Demography of survey respondents
    • People without bank or mobile money accounts
    • People with bank or mobile money accounts
  • The Players
    • Players in some sectors of the Financial Services space
    • The Nigerian Fintech Market
    • Founding years timeline
    • Geographical breakdown of Nigeria's commercial bank branches
    • Commercial banks with 100+ branches
    • Top states by commercial bank branches
    • Geographical breakdown of Nigeria's agency banking network
    • Top companies by agency banking network in Nigeria
    • Top states by agency banking network
    • The startups
    • Share of the amount raised by fintech startups
    • Funding raised by Financial Services startups over the years
    • Are there really too many fintech startups in Nigeria?
  • Industry Insights from:
    • Tayo Oviosu, Founder/CEO, Paga
    • Adedeji Olowe, Founder/CEO, Lendsqr
    • Tosin Eniolorunda, Founder/CEO, Moniepoint
    • Olugbenga GB Agboola, Co-founder/CEO, Flutterwave
    • Laurin Hainy, CEO, FairMoney
    • Deremi Atanda, Managing Director, Remita Payment Services Limited
    • Temitope Adeyemi, CEO, Pay-U
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Report highlights
Are there really too many fintech startups? Get fact-based insights about this and many more from this report.
Year Published: 2023
Pages:119
Document Type:PDF
Languages:English
Price: Free
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