By Segun Adeyanju
Nigerian fintech company PalmPay is expanding its network of physical offices across the country as regulators increase oversight of digital financial service providers.
The company said the move is aimed at strengthening infrastructure for financial inclusion and meeting evolving regulatory expectations in Africa’s largest economy.
PalmPay currently operates 28 offices across Nigeria, located in major cities including Lagos, Abuja, Port Harcourt, Benin City and Enugu.
Speaking during the launch of one of the company’s offices in Lagos, PalmPay’s Managing Director, Chika Nwosu, said building physical infrastructure is essential to expanding access to financial services across the country.
“Financial inclusion must be built on infrastructure,” Nwosu said, noting that the company’s growing office network is helping to improve service delivery and deepen access to digital financial tools.
Although many fintech firms operate mainly online, PalmPay said it has continued to invest in physical offices to strengthen operational support, merchant partnerships and customer engagement.
In 2025, the company opened two additional offices in Lagos located in Ikeja and Yaba, further expanding its footprint in Nigeria’s commercial hub.
Industry observers say the strategy aligns with recent regulatory measures introduced by the Central Bank of Nigeria to strengthen supervision of the country’s rapidly growing fintech sector.
Nigeria’s fintech industry has expanded significantly in recent years, prompting the apex bank to introduce stricter operational guidelines for payment service providers, including enhanced licensing requirements, stronger monitoring and improved operational infrastructure.
Analysts say the regulatory push is encouraging fintech companies to establish more structured operations, including physical offices and agent networks that allow regulators to better supervise activities and protect consumers.
PalmPay also noted that its office expansion supports local economic development and job creation in communities where it operates.
The company said each new office creates employment opportunities while also supporting financial literacy initiatives and small business development programmes.
Through its Purple Woman programme, the firm is also training and employing more women across its offices in a bid to increase female participation in Nigeria’s fintech workforce.
In 2025, PalmPay organised capacity building programmes in Kano and Kaduna, reaching about 3,000 women with financial literacy training and business development tools.
The company said combining digital platforms with physical infrastructure will remain central to its growth strategy as competition and regulation increase in Nigeria’s digital payments industry.
