For decades, Nigeria’s bustling markets have thrived on cash transactions, leaving millions of traders outside the formal financial system. But a new wave of outreach is quietly rewriting that story—bringing banking directly into open-air stalls, crowded aisles, and small kiosks.
At Lagos Island and Tejuosho markets, financial officers from Digitvant Microfinance Bank are skipping boardrooms and skyscrapers to sit face-to-face with traders. The goal: to teach savings, provide access to small loans, and show how digital payments can secure businesses against theft and cash shortages.
“Markets are the backbone of Nigeria’s economy,” said Florence Ogunyamoju, Managing Director of Digitvant. “When traders have banking tools, their businesses grow—and so does the nation’s economy.”
The program, known as Digitvant in the Market, flips the traditional banking script. Instead of expecting traders to navigate intimidating bank halls, the institution is walking into the very spaces where Nigeria’s commerce happens.
Beyond offering accounts, the initiative also tackles one of the biggest gaps in financial inclusion: trust. Many traders have long viewed formal banks with skepticism, but by embedding themselves in these markets, banks are breaking down walls and creating relationships that feel personal.
Experts say that moves like this could transform financial inclusion nationwide, reducing reliance on cash and building a stronger foundation for credit access and business expansion.
