Financial innovation and 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 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 the EFInA podcasts - Chinasa Collins-Ogbuo, the EFInA Advocacy Lead, is in conversation 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.