‘North lagging far behind in fintech’ – Arewa youths seek Tinubu’s intervention

A coalition of youth organizations from the northern region, under the Northern Youth Frontiers, NYF, have called for the intervention of President Bola Tinubu in bridging the digital divide, especially as it affects the region.

They urged President Tinubu to ensure that the North is well carried along and as a primary beneficiary of the fintech revolution.

The call is coming against the backdrop of a recent $2 billion partnership secured by President Bola Tinubu to push fintech revolution in the country.

The coalition also appealed to the Federal Government to guarantee that Northern Nigeria is fully integrated into the implementation of the fintech and digital economy initiatives anticipated from this partnership.

In a statement issued by the Chairman of the NYF, Sama Musa, the coalition emphasized the importance of ensuring that Northern Nigeria does not miss out on the opportunities arising from this partnership.

The statement said, “The Northern Youth Frontiers acknowledges that this significant global commitment validates the economic reforms being pursued by the president.

“The proposed cyber centre of excellence aims to establish an advanced technical hub that leverages AI to capture threat intelligence, combat financial fraud, and safeguard the nation’s rapidly evolving digital infrastructure.

“Additionally, there is a plan for a massive SME Digital Training initiative, a strategic three-year capacity-building program designed to equip 5 million small businesses with essential digital skills and cybersecurity measures.

“Furthermore, there is a focus on expanding Digital Economic Corridors, fostering deeper operational collaborations with the Central Bank of Nigeria (CBN) and local financial institutions to enhance intra-African trade and streamline diaspora remittances.

“A heartfelt appeal for equity: Do not leave the North behind in fintech.”

“Historically, the Northern region has significantly lagged in terms of fintech infrastructure, digital inclusion, and access to modern credit facilities when compared to our Southern counterparts.

“The NYF earnestly urges President Bola Ahmed Tinubu, the Minister of Finance and Coordinating Minister of the Economy, along with the Minister of Communications, Innovation and Digital Economy, to intentionally position the North as a significant hub when these initiatives are launched.

“In particular, the coalition requests,
“Zonal Sub-Hubs for the Cyber Centre of Excellence: It is essential that tech incubation and cyber intelligence frameworks be decentralized to prominent Northern urban centers such as Kaduna, Kano, or Maiduguri to tap into the digital capabilities of Northern youth.

“Targeted Allocations for the 5 Million SME Training: A considerable portion of the 5 million small businesses earmarked for digital skills training should be specifically allocated to entrepreneurs in the 19 Northern states, especially our local traders, agricultural MSMEs, and cottage industries.

“Nonetheless, to foster a resilient and equitable nation, it is imperative to close the digital gap. We express our gratitude to Mr. President for securing this $2 billion economic support, and we have confidence in his paternal approach to ensure that the North is fully included as a primary beneficiary of the Mastercard digital revolution.”