PiggyVest hosts a roundtable discussion with ecosystem leaders about the economic situation in Nigeria. Debt and the ubiquity of loan apps were among the key topics of discussion. Because nearly 4 out of 10 Nigerians, according to the survey, are in debt.
PiggyVest Hosts a Roundtable Discussion on the Economic Situation in Nigeria
More than a thousand Nigerians of all ages, genders, and income levels participated in a PiggyVest survey last year to discuss their debt management, saving and spending practices, and long-term financial goals. The results were combined into a report that was made public on World Savings Day, October 31, 2023.
The fintech company convened a roundtable discussion with prominent figures in the industry last week to deliberate on the report’s conclusions and investigate joint venture prospects for the ecosystem.
The Discussion Centered on the Obstacles that Nigerians Have in Accessing Financial Services
The discussion centered on the obstacles that Nigerians have in accessing financial services, as well as the tactics that regulators and industry participants may take to improve the alignment of financial services and products with the various requirements of Nigerians across various demographic groups.
VP at Moniepoint Tobi Amira, Chief Commercial Officer at Flutterwave Ifeoluwa Orioke, Head of Data at Interswitch Group Adejoju Ajani, Manager, Southwest Zonal Office of the National Information Technology Development Agency (NITDA) are among the panelists at the roundtable.
In attendance at the event were the following other stakeholders: Tochukwu Ironsi, a market intelligence specialist at Paystack; Elliott Kayode Sangoleye, Group Head E-Business at ProvidusBank; Gbenga Omolokun, Managing Director at VFD Microfinance Bank; Odun Eweniyi, Co-founder and COO of PiggyVest; Emmanuel Ojo, Managing Director of RedTech; and Fadekemi Abiru, Head of Insights at Stears Inc.
Debt and The Ubiquity of Loan Apps Were Among the Key Topics of Discussion
Engaging discussions about Nigeria’s financial situation, particularly as it relates to income and debt, took place during the two-hour program.
Debt and the ubiquity of loan apps were among the key topics of discussion. Nearly four out of ten Nigerians, according to the report, are in debt, with 26 percent of those owing money to lending applications. The NDPC’s dedication to making sure that predatory lending apps that break data protection regulations are held accountable was emphasized by Chidera Ike-Okonkwo.
A panelist who spoke extensively about areas of collaboration within the ecosystem, Niyi Adenubi, Executive Director (Commercial), VFD Group Plc, expressed his enjoyment of the event.
PiggyVest Savings Report Marks the Beginning of a New Yearly Custom for the Company
He added, “The debate among the panellists was very productive and the curation of the discussion, as well as the report itself, was innovative and brilliant. I have to encourage PiggyVest to continue to curate innovative ways to discuss these issues, while we build the framework for executing on them.”
The event’s main lesson, in Eweniyi’s opinion, is the stark disparity in financial literacy education. She called on humanitarian organizations, governments, businesses in the private sector, and fintech companies to step up their efforts to address it collectively.
The PiggyVest Chief Marketing Officer, Joshua Chibueze, declared that the 2023 PiggyVest Savings Report marks the beginning of a new yearly custom for the company, offering current information on how Nigerians handle their personal and commercial finances.
He claims that the 2024 study will enhance the research methods and examine the effects of the naira’s depreciation and the country’s rapidly rising inflation rate, among other things.
ALSO CHECK:
- Tech4dev Digital for All Challenge For Nigerians 2024 (Up to N10,000,000 Prize) | Apply Now!
- Facebook Dating Which Countries Can Use it: Facebook Dating App
- Facebook Dating Account Sign Up – Facebook Dating App Download Free | Facebook Dating Profile
- Dating App for Facebook 2021: Online Dating on Facebook App | Facebook Dating App Available
- Free Money Earning Apps: How to Start Using Free Money Earning Apps
