The EFInA Podcast

In Part 2 of our Designing Inclusive Financial Solutions series, Host, Immanuel Umukoro (Policy and DFS Advocacy Manager, EFInA) continues the conversation with Dotun Adekunle (COO/CTO, OPay Digital Services Limited). They move beyond pricing and product tweaks to tackle the real backbone of adoption: Trust. Whether you're a fintech founder, product manager, policymaker, or ecosystem builder, this...

In this episode of the EFInA Podcast, host Immanuel Umukoro (Policy and DFS Manager, EFInA) sits with Dotun Adekunle (COO/CTO, OPay Digital Services Limited), to dive into the key factors that drive customer loyalty and engagement in financial products. Join us as we explore how thoughtful pricing strategies and small product tweaks can create lasting "stickiness" for customers in underserved mark...

How does a simple payment model unlock financial dignity, expand economic opportunity, and transform underserved communities? In this episode of the EFInA Podcast, host Immanuel Umukoro, Policy and DFS Manager, EFInA, sits with Kolawole Osinowo, CEO, Izili Group, to unpack the powerful intersection between energy access and financial inclusion, exploring how the Pay-As-You-Go (PAYG) model is resha...

As Nigeria deepens its push for financial inclusion, POS terminals and agent banking have become critical lifelines for last-mile communities. But with rising transaction and operational costs, fraud risks, liquidity struggles, poor connectivity and frequent service downtimes, can we collectively unlock broader financial access, resilience and trust? In this episode of The EFInA Podcast, host Imma...

Open Banking is here, but what does it really mean for everyday Nigerians? In this episode, we sit with Mr. Adedeji Olowe, Trustee of Open Banking Nigeria, to demystify the concept. We explore how secure data sharing can unlock safer, more personalised financial services, foster transparency, and drive financial inclusion for millions who remain underserved. With Nigeria leading the way as the fir...

In Nigeria’s rapidly evolving financial services landscape, millions of consumers remain at risk—especially the invisible victims and the most vulnerable groups who often fall through the cracks of protection. From unfair charges to predatory practices and digital exclusion, their voices are rarely heard, yet they bear the brunt of systemic gaps. In this episode of the EFInA Podcast, we sit down w...

In Part 1 of our two-part episode on Credit Literacy, Personal Finance, and Financial Health, we navigated the nuances of credit and its impact on financial well-being. Building on those insights, this episode (Part 2) dives into understanding and managing your 'credit appetite' – how to thoughtfully approach credit use, balance financial opportunities with risks, and cultivate healthy credit habi...

In Nigeria, rising access to digital credit, informal lending, and consumer finance has not been matched by adequate credit education. At the same time, financial stress—due to poor saving habits, impulse spending, and income unpredictability—has weakened financial health among millions. This special episode explores the intersection of credit use, financial behaviour, and wellness with Mr Jerry O...

In Nigeria and across Sub-Saharan Africa (SSA), women continue to face significant barriers to financial inclusion. Despite contributing significantly to household welfare and local economies, particularly through micro and small businesses, women often lack access to credit, savings tools, insurance, and digital financial services. In this episode, we dive deep into women micro-entrepreneurs acce...

In this episode, we explore how gender-responsive financial products/solutions can empower women, strengthen households, and drive inclusive growth with Mustapha Otaru (Chief Product Officer, Sterling Bank). The conversation highlights barriers women face in accessing financial services, best practices in designing for their unique needs, and the broader socio-economic benefits of women’s financia...

According to EFInA’s 2023 Access to Financial Services in Nigeria Survey (A2F) Report, negative perceptions, informed by bad experiences and fraud, have been a significant deterrent to formal financial inclusion, leading to a lack of trust in financial institutions and restraint in engaging with formal banking systems. This lack of trust has significant implications for Nigeria’s digital economy,...

Quick Fact: Negative perceptions, informed by bad experiences and fraud, have been a significant deterrent to formal financial leading to a lack of trust in financial institutions and restraints in engaging with formal banking systems. Why is it important: Lack of trust has significant implications for Nigeria’s digital economy, where the success of digital financial services (DFS) hinges on consu...

Quick Fact: 26% of Nigerians remain financially excluded, many of whom are women, youth, and people in rural communities, who form the largest segment of last-mile consumers. Why it is important: Digital innovation in Digital financial services (DFS) has significantly reduced financial exclusion and can bridge gaps in access to essential services. However, low digital literacy, limited technology...

Quick Fact: Between 2020 and 2023, financial inclusion in Nigeria moved from 68% to 74%. However, many are still excluded from formal financial services, an estimated 40.3 million Nigerian adults. Why it is important: To achieve last-mile financial inclusion, it is crucial to understand the causes of continued exclusion, and to fashion responsive policies and regulations, interventions, and financ...

Quick Fact: In 2023, 45% of Nigerians used Digital Financial Services (DFS) to meet their financial needs, up from 34% in 2020. Why it is important : As Digital Financial Service (DFS) users increase, new risks emerge for inexperienced consumers. These issues reduce the trust quotient in the market and pose a significant threat to financial inclusion, which is built on trust. This is Episode 1 of...