Nigeria's digital payments revolution is scaling faster than the ecosystem's ability to fund it, secure it, and regulate it — creating a dangerous gap between growth and resilience that could leave the entire fintech stack exposed.

Evidence For

• Gigbanc, a three-year-old Nigerian fintech that processed over ₦10 billion ($7.2 million) for 150,000 users across 30 countries, is winding down. Its co-founder and CEO Paul Omoregie Okundaye cited a brutal fundraising...