Abimbola Pinheiro, the chief executive officer of O3 Capital Nigeria Limited, has called on the federal government to improve the judicial system to aid debt recovery.
“They need to improve the judiciary so that you can enforce compliance. Part of our issue is that some people do things and think there’s no consequence because there’s no redress in court,” Pinheiro said.“Also, government needs to enforce identification in terms of location. Because in Nigeria now, I could do my BVN and I’m leaving here, but next week I move to place.”
“So you use the banks’ funds to reach out to these people. So the banks make their money and you make your money. The first real partnership between a bank and a fintech is going to blow everyone out of the water.On the business environment in Nigeria and how policy uncertainty affects investors, Pinheiro said uncertainty makes people uncomfortable.