Nigeria’s fintech revolution is a remarkable achievement—at least on the surface. With 74 percent financial inclusion, ₦237 trillion in digital transactions in Q1 2024, and unicorns like Moniepoint pushing over a billion payments monthly, the numbers dazzle. In markets across Lagos, the chirping beep of a successful POS transaction has become the soundtrack of commerce.
But beneath the noise lies a harder truth: Nigeria has mistaken access for empowerment, creating what I call a financial inclusion illusion.
The numbers look good—
