The Central Bank of Nigeria (CBN) has recognized approximately 40 million Nigerians living with disabilities as a largely underserved demographic within the financial system, presenting significant opportunities for fintech companies. This announcement was made by CBN Governor Olayemi Cardoso during Nigeria Fintech Week 2026 in Lagos.
Cardoso emphasized that the financial system has not adequately developed technologies and services tailored to the needs of persons with disabilities. He called on fintech companies to create solutions that address the specific challenges faced by this group, highlighting the importance of inclusive financial technology.
During his address, Cardoso pointed out that many individuals with disabilities, such as the visually impaired, encounter difficulties when accessing banking services. He noted that financial institutions often fail to treat these customers with the respect they deserve, which further exacerbates their exclusion from the financial system.
Additionally, the Governor raised concerns about the limitations of current identification methods, such as fingerprinting, for individuals who may not have fingerprints due to medical conditions. He urged the need for innovative identification alternatives, such as iris recognition, to ensure that all customers can access financial services.
With millions of Nigerians still excluded from the financial system, Cardoso believes that there is a commercial opportunity for fintechs to develop targeted solutions for this demographic. He encouraged these companies to take action, as addressing the needs of persons with disabilities could lead to substantial financial gains.