By Peter Okolie
Interswitch, Africa’s leading integrated payments and digital commerce companies, says Nigeria must urgently build adaptive financial infrastructure to drive sustainable long-term economic growth and support future digital payment systems.
The Vice President, Business Innovation and Growth of the organisation, Mr Tyoyila Aga, gave the advice at the TechConnect 6.0 conference held in Owerri, on Friday.
The theme of the event was “Built for What’s Next: Designing Adaptive Financial Infrastructure for a Dynamic Market.”
Aga urged stakeholders to deliberately design infrastructure capable of absorbing economic shocks and market disruptions.
“As financial infrastructure evolves, we have an opportunity to design that change deliberately, with the resilience to withstand disruption and the flexibility to adapt,” he said.
He also said that systems must maintain security to earn public trust, while promoting financial inclusion across all economic strata.
Aga said rapid digitisation of financial services, commerce, and governance require standalone systems to transition into interconnected digital ecosystems.
He highlighted interoperability, robust cybersecurity, sound data governance, and consumer inclusion as critical pillars for sustaining long-term financial infrastructure relevance.
Delivering a keynote address, the Chairman, Imo Internal Revenue Service, Mr Justice Okoye, examined the role of connected and adaptive infrastructure in strengthening institutions, improving service delivery and expanding economic participation.
“It is no longer whether financial and revenue systems can support today’s economy.
“Rather, the question should be whether they are adaptive enough to support tomorrow’s economy,” Okoye said.
He identified six connected pillars essential for robust revenue administration: taxpayer identity, technology, institutional frameworks, connectivity, data analysis, and professional skills.
He further explained that resilient financial systems must anticipate disruptions like cyber threats and network failures, ensuring quick recovery without service interruptions.
In another keynote address, the Imo Commissioner for Finance, Mr Chuck Chukwuemeka, said traditional financial systems focused only on stability can no longer sustain modern digital commerce and dynamic markets.
Chukwuemeka urged financial sector operators to prioritise interoperability, data intelligence, cybersecurity resilience, and human capital development to effectively navigate market changes.
The commissioner highlighted Imo’s transition from rigid financial controls to an intelligent financial framework, citing the Treasury Single Account (TSA) and the Imo Geographical Information System.
He disclosed that the TSA structure eliminated fragmented government accounts, providing real-time visibility and strategic control over public cash management.
The News Agency of Nigeria (NAN) reports that the event gathered stakeholders across government, financial services, technology and businesses to explore how adaptive financial infrastructure can support rapidly changing markets.
It featured a panel discussion on “Building a Digital Economy: The Role of Government, Industry and Talent in Shaping the Future”.
It explored how government, industry and talent can jointly shape the pace and sustainability of digital transformation.
Another session, the fireside chat, entitled: “Driving Digital Transformation Through Public-Private Partnerships”, examined collaboration among government, financial institutions, technology providers and businesses to build more connected and sustainable digital solutions.
Highpoints of the event included the showcasing of Interswitch’s product as well as presentation of awards to top performing state governments, MFBs and Fintechs.
The Owerri edition marked the first stop of the TechConnect 6.0 nationwide tour, with subsequent editions scheduled for Abuja, October 13, Ibadan, October 22, and Lagos October 27. (NAN)
Edited by Sam Oditah
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