The Economic and Financial Crimes Commission has warned Nigerian fintech operators to strengthen internal controls against fraud and suspicious transactions.
The anti-graft agency said digital finance companies now play a critical role in the economy and must guard against abuse by criminal networks.
EFCC officials cautioned that a single major compliance failure could damage public trust and expose firms to regulatory sanctions.
They urged operators to improve customer verification systems, transaction monitoring and reporting procedures.
Industry observers say the rapid growth of digital payments has created new opportunities, but has also increased the need for stronger safeguards.
The Commission also called for closer cooperation between fintech firms, banks and regulators to identify emerging threats quickly.
Stakeholders at the meeting agreed that trust, transparency and security remain central to the future of Nigeria’s financial technology sector.
