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Best Locations for Fintech Companies in Nigeria



Siting a Fintech Company is one thing but getting a good location for your Fintech company in Nigeria is another thing. However, the knowledge of the Best locations for Fintech Companies in Nigeria will help you to save cost and avoid unnecessary risks. Before I go into the full discussion, let me give you some background information on  Financial Technology Companies a.k.a. Fintech Companies.

Fintech (Financial Technology) companies are companies which use the aid of technology (such as internet, applications, etc.) to carry out financial transactions, which used to be carried out only by the conventional banks.

The Payment Systems Vision 2020 initiated by the CBN in 2007 brought to the fore the space for Fintech companies to thrive in Nigeria. This opened up the space for competition between Fintech companies which swung into action. Currently, there are more than 250 Fintech companies in Nigeria, such as Remita, PayStack, Interswitch, Flutterwave, Paga, etc.

The suitability of any location to suit tech startups such as Fintech companies depends on the socio economic policies instituted by the location. This implies that not all locations are best suited to host Fintech companies.

In this article, I look extensively into the best locations to start your Fintech companies in Nigeria.

Top 5 Best Locations For Fintech Companies in Nigeria

This section showcases the best locations for Fintech companies in Nigeria.

(1) Enugu State

Enugu state hosts the premier university in Nigeria started by Nigerians. Apart from the University of Nigeria, Nsukka (UNN), the state also hosts the Godfrey Okoye University, Caritas University, the Rivers State University of Science and Technology, RSUST, as well as other Information and Communication Technology (ICT)-based institutions like the Catholic owned, Our Saviour’s Institute of Science and Technology.

Also known as Coal City, Enugu state owns coal deposits that were discovered in the early twentieth century and are still providing a vibrant source of revenue today. Electricity could actually be abundantly supplied to the state, through the revamping of its Oji River Power Station. In the past, the power station supplied power to all the states in the then Eastern Region.

With a population of 5.6 million people (as at 2006 census), Enugu state has been experiencing advancement in Information and Communications Technology. Recently, the state government recently launched a WiFi access-to-internet project. Enugu state gradually poses itself a potential hub for Fintech companies.

(2) Ogun State

Ogun state has the largest number of tertiary educational institutions in Nigeria, including Covenant University Ota, Bells University of Technology, Abraham Adesanya ICT Polytechnic, Gateway ICT Polytechnic, etc.

Ogun state recently initiated a solar power electronic learning project, which is currently ongoing. The state has shown massive interest in the education sector, as well as the ICT sector, with policies which could ease investing in the state. Ogun state has a GDP of $ 10,470, the ninth largest in the country.

Also known as the Gateway State (due to its large border line towards Benin Republic), the cost of living in the state is relatively cheaper, compared to Lagos State.

Ogun state, with its fast development pace in infrastructure, as well as education and information technology, is sure of the best places to locate a Fintech company in the country.

As may be already observed, one of the strong selling points of Ogun is its proximity to Lagos state.

Best Locations For Fintech Companies in Nigeria

Best Locations For Fintech Companies in Nigeria

(3) Rivers State

Rivers State is second only to Lagos, in terms of GDP production in Nigeria, with a Gross Domestic Product of $ 21 billion. The state serves as the largest oil producing state in the country. The oil and gas industry activities in the state are mainly carried out in Port Harcourt, the capital city.

Rivers state sits Rivers State University of Science and Technology (RSUST), refineries (2), stadia (2), sea ports (2), an international airport, and University of Port Harcourt.

The downsides of Port Harcourt, however, is its very high standard of living, which might create an extra financial burden for beginning Fintech companies not seen in some other states in the country. The activities of militants in the area, also, agitating for local impact of wealth generated by the oil and gas industry also creates insecurity in an otherwise peaceful state.

Fintech companies which decide to set up in the state have a lot to possibly gain from the oil and gas industry, as well as the upper class residents of the region.

(4) Cross Rivers State

Cross Rivers state is a state in southern Nigeria, widely known for its tourism-friendly environment. Cross River State has a gross domestic product of $ 9.292 billion, and is a good place to situate a Fintech company in Nigeria.

The state hosts the University of Calabar and is growing into a globally acclaimed tourist centre with tourist sites such as the Calabar Free Trade Zone, the Calabar Sea Ports, Calabar Air Ports, Tinapa Business Resort and the infamous Obudu Ranch Resort. All these are various platforms for business, tourism and trade in the state.

The state also boasts of an ICT Village, which was formed in collaboration with Microsoft. the Village offers Information and Communications Technology training to residents of the state, as well as students, interested in keeping up with the world’s IT trends.

The state also hosts, Tinapa, a first-of-the-kind world-class resort for integrated business and relaxation in Nigeria. Tinapa is based in Calabar with facilities that meet international standards and a Free Trade Zone.

Cross River could actually become one of Africa’s biggest hubs for Fintech companies in Nigeria.

(5) Lagos State

Finally, I can’t end this list without the Centre of Excellence, Lagos state. Lagos is the country’s most widely known city, and is at the peak of industrial and commercial activities in Nigeria. Home to international sea and air ports, Lagos is the highest contributor to Nigeria’s GDP, generating a GDP of $ 33.68 billion annually. With an estimated population of more than twenty million people, Lagos is certainly one of the best places to start a Fintech company in Nigeria.

The University of Lagos is well known for being technology inclined in their R&D. The state also hosts the Lagos Business School, a top business school reckoned with across the globe. The state also has several other academic institutions such as the state owned university, polytechnics, as well as other ICT institutions scattered across the state, making it a friendly business environment.

The state has extensive tourist sites, and relaxation centers, with intentions to create Free Trade Zones in novel regions in the state.

The large population of Lagos state; its sea and air ports; and the business – favoring disposition of the state government over time; predisposes it any day any time an inviting location for financial technology companies.

So, that’s all on my list of the best locations to site a Fintech business in Nigeria.



Ekemini Ekpo is a professional writer, blogger, and internet marketer. He is passionate about engineering, business, investment, entrepreneurship, finance, and personal development. When he is not managing web projects, he handles academic research writing and data analysis for individuals and organizations.

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What is Cryptocurrency And How Does It Work? 



Obiex finance website

Cryptocurrencies are decentralized digital assets that operate on blockchain technology that in turn operates by storing a ledger of every transaction on all nodes powering the blockchain. 

In layman’s terms, blockchain technology is like a record keeper, it collects data (in blocks) and links one block of data to another, forming a chain. The data on the blockchain is open for all to see and cannot be easily altered. Blockchain technology can be used for a variety of use cases besides cryptocurrency, ranging from voting to crowdfunding, keeping health records, etc.

Using Bitcoin as an example, nodes are computers connected to the network to mine Bitcoin,  – this collection of independent nodes working together is what makes the network decentralized.

The decentralized nature of cryptocurrency is down to the creators recognizing flaws in traditional banking & financial systems like governments and financial institutions acting only in their best interests and not in the best interest of the common man, leading Satoshi Nakamoto (the creator of bitcoin and blockchain technology) to take steps to rectify that.

Related: What are NFTs?

To make cryptocurrency transactions, you will need to have a set of both public and private keys that will act as passwords protecting your crypto wallet. 

The Public key is connected to your wallet address, allowing you to share the address with others to receive cryptocurrency, while the private key is known to only you and is what you will use to approve outgoing crypto transactions from your wallet. 

Trading Cryptocurrency on Obiex

Obiex finance website

With the popularity of cryptocurrency trading currently at an all-time high, the biggest challenge for many rookie traders is selecting which cryptocurrency exchange to trade on.

If you fall in this category, the immediate priority should be finding an exchange that allows rookie traders to make trades easily, doesn’t charge extra fees and is completely secure. That exchange is Obiex Finance.

In this guide, you will be shown how to navigate the Obiex mobile app & website easily and what to do to get started with making cryptocurrency trades. 

Getting started with Obiex Finance 

Obiex Finance is a digital asset exchange and financial technology (Fintech) platform that gives its users the ability to easily execute cryptocurrency trades from anywhere regardless of their skill level.

Their commitment to ensuring that users get the best experience is shown in how they allow instant swaps from volatile coins like Bitcoin to stable coins like USDT, and vice versa, without confirmations. In a market where the value of crypto can fluctuate wildly, this feature is especially valuable as it allows users to seamlessly switch between making profits to saving those profits in a more stable currency before the value drops.  

To create an Obiex Finance account, simply head over to their homepage, click on “sign up”, fill in the required fields and verify your email address. After that, create wallet addresses for your crypto assets and you’re ready to start trading!

The cryptocurrency available for trading on the Obiex Finance platform are: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Polygon (MATIC), Dogecoin (DOGE), Tether (USDT), Binance USD (BUSD), and USD Coin (USDC).

Getting Started with Cryptocurrency trading

After creating your Obiex account, you need to follow these simple steps:

  1.     Have a Trading Strategy: Trading cryptocurrency without having a strategy in place is the easiest way to lose your money. You will need to research the various crypto trading strategies thoroughly and choose the one that best suits your needs and temperament. For example, if you’re a patient person who is content to make smaller, safer trades over a long period of time instead of making riskier trades, then scalp trading is the best trading strategy for you. There are also other crypto trading strategies such as Swing trading, position trading, Arbitrage, dollar cost averaging etc.
  2.     Pick the cryptocurrency you’d like to trade: There are several cryptocurrencies available on Obiex Finance such as Bitcoin, Ethereum, Binance Coin, Tether etc. Selecting which cryptocurrency to trade is usually down to making a choice; whether to stick with the safer, more established cryptocurrencies like Bitcoin or to go with the more volatile coins that have a high upside and an equally high-risk factor like the Dogecoin which can move in either direction based on what Elon Musk tweets.

It is also important to note that when you pick a cryptocurrency to trade, it would be wise to ensure that the cryptocurrency matches the strategy you pick. For example, if your preferred strategy is patient scalp trading, then investing in volatile coins that have a high upside but carry a lot of risk is not the wisest move. 

To swap crypto on Obiex Finance, add the wallet of crypto assets you’d like to swap, send the crypto to the wallet you just created, navigate to the ‘swap’ option on your dashboard, and select the coins you’d like to swap. You will receive the swapped coin in your wallet balance immediately without waiting for network confirmations.

  1.     Securely store your cryptocurrency: The same way you’d protect your goods and profits if you had a physical store is the same way you need to protect your cryptocurrency so it doesn’t fall into the wrong hands.

You can store your crypto securely on your Obiex wallet but if you want an alternative, physical wallets are also an option. Physical wallets allow you to store your crypto in secure hardware, offline storage device reducing the likelihood of online hackers stealing your hard-earned crypto. This is a list of reliable physical wallets you can use.


If you’re a newbie to crypto trading, the keyword is patience. Taking the time to properly understand the market before making trades will stand you in good stead. While risks occasionally pay off, a patient, long-term strategy is required to make consistent profits. For more information about trading as a newbie, you can check this out to understand unfamiliar crypto terms and to learn more about spot trading and futures.

Obiex Frequently Asked Questions | Obiex FAQs

  • Will I be charged a fee when I swap coins on Obiex? 

No you won’t. While other crypto exchanges charge for trades and require confirmations to execute swaps, Obiex allows you to make free, instantaneous swaps without the delay that comes with waiting for confirmation. This also helps you avoid unnecessary losses.

  • Can I trade crypto on Obiex if I don’t know much about crypto? 

Yes, you can! The Obiex Finance platform allows both rookie and experienced traders to make easy, safe trades regardless of trading experience.

  • Can I send and receive crypto easily?  

Yes, you can. To send crypto, you will use your private key to execute outgoing trades and your public key/your wallet address to receive incoming trades. You can also send and receive crypto using just Obiex usernames.

  • Why do I need to swap coins? 

Swapping coins allows you to either acquire a coin you think is (currently) more valuable than a coin you have a lot of. You can also use swaps to ensure that your funds are invested in a more secure coin like USDT if you feel the volatile coin you’re holding is about to go on a bear run and lose value.

  • Do I get a referral bonus when I invite friends to use Obiex? 

Yes, Obiex has a referral campaign that rewards users that invite their friends and family to trade the minimum of $10 on Obiex.




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