About "The EFInA Podcasts" (TEP)
Insightful Discussions
Join us as we explore ideas that matter and hear from experts across various fields.
Expert Guests
Listen to our guests share their experiences and insights on important topics.
Diverse Topics
From financial Inclusion to empowerment our podcasts delve into a wide range of subjects.
S01 E06
Designing for Women, Empowering Households and Communities.
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 financial empowerment through gender-responsive product innovation.
S01 E05
Breaking the Silence on Consumer Dispute Reporting & Resolution in Nigeria’s DFS Ecosystem.
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, where the success of digital financial services (DFS) hinges on consumer confidence and security. Fraudulent activities, including identity theft, phishing scams, and unauthorized transactions, erode trust and discourage individuals, particularly those in underserved communities, from fully adopting digital payment systems and financial products. In this episode, The conversation with Mr Ajibade Laolu-Adewale (Chairman, CeBIH; and Group Head, Partnerships, Digital Solutions and FINTECHs in WEMA Bank) seeks to answer the question, “How can Nigeria effectively report their grievances with FSPs and get satisfactory redress to build confidence in the system, leading to higher DFS updates and, ultimately, driving financial and economic inclusion
S01 E04
Tackling Digital Fraud and Protecting the Most Vulnerable in 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 consumer confidence and security. Fraudulent activities, including identity theft, phishing scams, and unauthorized transactions, not only erode trust but also discourage individuals, particularly those in underserved communities, from fully adopting digital payment systems and financial products.
In this episode, we discuss with Prof. Chiso Ndukwe Okafor, Executive Director of the Consumer Advocacy and Empowerment Foundation (CADEF), Nigeria, on the root causes of digital fraud, the structural vulnerabilities that expose at-risk populations, and the proactive measures necessary to fortify consumer protection and build trust in Nigeria’s rapidly evolving digital financial landscape.
S01 E03
Digital Innovation in Financial Services and Last-mile Service Consumption
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, adoption among last-mile consumers remains hindered by low digital literacy, limited technology access, and security concerns.
In this episode, we discuss with Mr. Olu Akanmu, EFInA Board Director and Academic Director, Tech-Leap Initiative, Lagos Business School, the benefits and pitfalls of digital innovation in driving financial inclusion for the last mile, especially as digital innovation is leapfrogs at a pace faster than social development.
S01 E02
Financial Inclusion and Economic Empowerment: Priorities for Nigeria
S01 E01
Financial Innovation & Access: The Consumer’s Threat
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 Services (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.
On this episode, we discuss with Oluwatomi Eromosele (PHD), a development economist expert who currently serves as EFInA’s general manager and Research lead, to discuss the increasing threat of risk exposure to consumers due to the growing adoption of digital financial services.
