Remita has unveiled a new report titled Unlocking the Power of AI in Nigeria’s Fintech Sector, emphasizing the necessity of artificial intelligence (AI) adoption for financial technology growth. As AI-driven solutions continue to transform operations, decision-making, and fraud management, the report serves as a strategic blueprint for fintechs to harness AI for business expansion and operational efficiency. With Nigeria’s AI market projected to reach $434.4 million by 2026, fintech firms must integrate AI into their core operations to remain competitive and drive financial inclusion.
The report highlights Nigeria’s fintech sector’s rapid growth, commanding 52% of Africa’s total fintech funding and housing five of the continent’s nine unicorns as of 2024. It also underscores fintech’s role in boosting financial inclusion from 32% in 2012 to 64% in 2024. Digital transactions surged by 16.7% between 2023 and 2024, totaling over 11.2 billion transactions valued at $713 billion. AI is expected to propel this momentum further by enhancing operational resilience and customer experiences.
Remita’s Managing Director, ‘DeRemi Atanda, stressed that fintech’s next phase requires strategic intelligence, with AI serving as a key enabler. He noted that AI is no longer a matter of choice but a necessity for fintechs to thrive. Remita’s AI-driven improvements include a 40% enhancement in customer experience, a 50% acceleration in API integration, and a 19% reduction in customer inquiries. The report also provides frameworks for ethical AI deployment and regulatory collaboration.
According to Uchenna Okpagu, Remita’s Chief AI Officer, fintech firms that embed AI into their operational DNA will drive the next decade of financial transformation. The report reinforces Remita’s position as a thought leader in AI adoption, emphasizing structured implementation, risk assessment, and responsible innovation. As fintech advances into an AI-driven era, businesses that fail to integrate AI risk falling behind in an increasingly digital-first economy.