NIGERIA STARTUP ACT, 2022 DISRUPTION ON FINANCIAL SERVICES TECHNOLOGY STARTUPS (FINTECH): A STUDY OF MONIEPOINT POS AGENTS IN ANAMBRA STATE.

BY

Agogbua, Stanley N¹, Umeaniba, Adolphus I² and Mgbataogu, Chukwudi D³

^1,2Department of Management and Entrepreneurial Studies, Paul University, Awka, P.O.Box 49, Awka, Anambra State, Nigeria

³Department of Sociology, Delta State University, P.M.B. 1, Abraka, Delta State, Nigeria

Abstract

The study investigated the impact the Nigeria Startup Act, 2022 on Financial Services Start-ups, with a focus on Moniepoint agents in Anambra State. A time series research design was adopted in the study. Data for the study was secondarily sourced from Anambra state Moniepoint Periodic Reports, 2023. The time scope of the study was September 2021 to August 2023, which represents pre and post-data on variables studied. The data from the study were analyzed using tables and frequencies. The hypotheses were tested using pairwise t-test. The study showed that the Nigerian Startup Act of 2022 had a disruptive significant positive impact on number of Agents, number of transactions, and volume of transactions of Moniepoint Agents in Anambra State; which is a measure of entrepreneurial growth in Nigeria digital technology sector. The study thus concluded that the Startup Act, 2022 contributed significantly to the growth of Fintech Startups as was evidenced increase in number of agents, number of transactions, and volume of transactions recorded in Moniepoint Agency, Anambra State.

Keywords: Nigeria Startup Act 2022, Disruptive Innovation, Financial Services Technology  (FINTECH) Startups, Moniepoint POS Agents.