A new joint study by KPMG and the Orange Group has found that banking and fintech applications now reach 88 % of smartphone users in Nigeria, underscoring the rapid digitalisation of the country’s financial services sector.
The report highlights that the majority of Nigerians who own a smartphone are downloading and using mobile financial apps, with OPay emerging as the market leader. OPay’s strong position reflects its widespread adoption across the country’s urban and rural areas.
While the study does not break down usage by individual app beyond OPay, it confirms that the overall penetration of fintech solutions is high, indicating a growing preference for digital over traditional banking methods among Nigerian consumers.
These findings suggest that mobile financial services are becoming an integral part of everyday life for most Nigerians, providing easier access to banking, payments and other financial products through their smartphones.
<small>Source: Punch Nigeria — read the original story there.</small>
