Remember when you first sent money on your phone without going near a bank? That moment was actually the result of years of chaos, billion-dollar bets, and more than a few companies that did not survive to see it happen.

A few years ago, fintech in Nigeria felt unstoppable. Everywhere you turned, there was another payment app, another startup promising to "revolutionize finance." Investors were pouring millions into startups. Traditional banks suddenly looked old and out of touch. For many Nigerians, fintech was not just convenient; it solved real problems the formal banking system had ignored for decades.

For a while, it seemed like fintech had finally cracked the code.

But then funding slowed, regulations tightened, and competition turned brutal. Some startups struggled. Others disappeared quietly. The same industry once celebrated as the future of African finance suddenly faced serious questions about survival.

So, what exactly happened? Read the full breakdown on NaijUp → https://naijup.ng/blog/the-rise-and-fall-of-fintech-in-nigeria#google_vignette