FirstBank of Nigeria Limited has reaffirmed its commitment to cross-border financial innovation and inclusion by sponsoring the 2025 edition of the Canada-Africa Fintech Summit (CAFS).
The summit was held from August 5 to 8 at the Sheraton Centre in Downtown Toronto, Canada.
The summit, convened by Dr. Segun Aina, President of the African Fintech Network, brought together fintech leaders, regulators, startups and investors from Africa and Canada to explore scalable digital solutions, stimulate investment, and promote inclusive economic growth across both continents.
As one of Africa’s oldest and most influential financial institutions, with over 131 years of service, FirstBank said its sponsorship underscores its drive to foster collaboration between African and Canadian fintech ecosystems. “Our support of CAFS 2025 reflects our belief that collaboration between African and Canadian fintech ecosystems can lead to transformative innovations. FirstBank is proud to help shape that future,” said Olayinka Ijabiyi, Acting Group Head, Marketing and Corporate Communications at the bank.
At a high-level panel session alongside Rudy Cuzzeto, Member of Provincial Parliament for Mississauga–Lakeshore, and David Stevenson, Country Director of the United Nations World Food Programme (Nigeria), FirstBank’s Group Executive for E-Business and Retail Products, Chuma Ezirim, highlighted the importance of digital cooperation.
“We’re building APIs that understand regulatory bifurcation, who has access to what, and why. The technology is the easy part. The real challenge lies in maintaining security, consent, and performance,” Ezirim said.
He noted that Nigeria’s fintech landscape has moved “beyond disruption to convergence,” integrating banks, fintechs, and regulators into an agile, accountable ecosystem. Regulatory clarity, he stressed, remains key to public trust and attracting investment.
In a separate discussion, FirstBank’s Chief Technology Officer, Rachel Adeshina, spoke on leveraging artificial intelligence to expand credit access for underbanked populations. “We’re addressing data poverty by using AI to interpret alternative data, allowing us to lend to individuals who might otherwise be invisible to the traditional credit system,” she said. Adeshina revealed that the bank has disbursed over ₦1 trillion in digital loans through its AI-driven model, achieving a repayment rate exceeding 99%. She attributed the success to a supportive environment that includes API banking regulations, data privacy laws, and a transition from account-based to wallet-based banking. She added that achieving digital scale in Africa would require interoperability across its 54 markets.
CAFS 2025 formed part of Canada’s broader Africa Strategy, which seeks to deepen economic partnerships, digital cooperation and innovation exchange. With Africa’s digital finance ecosystem expanding and Canada moving towards an open banking framework, organisers said such platforms are crucial for aligning strategies and unlocking collaborative opportunities.
Leave a Reply