Fintech Firms, Lagos Officials Meet November 20 Over Digital Economy Policy

Fintech operators and Lagos State officials will meet on Friday, November 20, 2026, at The George Hotel, Ikoyi, for a private town hall on the state’s digital economy agenda. The meeting is organised by My Card Global in collaboration with FintechNGR.

The town hall will focus on developing policy recommendations for the Lagos digital economy agenda covering 2027 to 2031. It will bring together government representatives, fintech founders, chief executives and other industry professionals to examine challenges facing businesses in the sector.

Taxation and infrastructure top agenda

Expected participants include the Minister of Communications, Innovation and Digital Economy, Bosun Tijani; Lagos State Deputy Governor Kadri Obafemi Hamzat; and the Chairman of the Lagos State Internal Revenue Service, Ayodele Subair. Iyinoluwa Aboyeji, co-founder of Andela, is also expected to attend.

Discussions will cover taxation, digital infrastructure, innovation and the long-term growth of the state’s digital economy. Taxation is particularly relevant to fintech operators, which must navigate regulatory and tax requirements while developing payment services and other financial products.

Participants are expected to examine how government policies affect businesses and identify areas where changes could support investment and innovation. The organisers said the meeting would give private-sector operators an opportunity to contribute their experience to the development of Lagos State’s digital economy policy.

The outcome is expected to inform discussions around the state’s 2027 to 2031 digital economy agenda. However, the organisers have not disclosed specific policy proposals or commitments expected from the meeting.

Lagos pushes tech and financial services

The town hall comes as Lagos continues to position its technology and financial services sectors as part of its wider economic development strategy.

An analysis of audited financial statements and investor presentations shows that retail deposits across six major banks rose to N39.01 trillion during the 2025 financial year. That represents a 24% increase from N31.46 trillion recorded in 2024.

The growth highlights the enduring influence of traditional lenders in attracting and retaining customer deposits, even as fintech companies expand rapidly across the country’s digital payments landscape. Traditional banks continue to benefit from factors such as salary accounts, extensive branch networks, regulatory oversight and broader access to credit facilities.

What it means for businesses and consumers

For fintech businesses, clearer tax and infrastructure policy could affect operating costs and product rollout in Lagos. For consumers, the outcome could shape access to digital payment services, though no specific proposals have been announced.