Green Fintech and Sustainable Financial Innovation: Challenges and Opportunities in Nigeria

The convergence of financial technology and environmental sustainability has given rise to green fintechan emerging field with significant implications for how developing economies finance their transition to a low-carbon future. In Nigeria, where a thriving fintech ecosystem coexists with acute climate vulnerability and deep financial exclusion, the integration of green fintech presents both a developmental imperative and a largely untapped opportunity. This article examines the landscape of green fintech and sustainable financial innovation in Nigeria, drawing on conceptual, theoretical, and empirical perspectives to construct a holistic understanding of the subject. Grounded in Institutional Theory, Innovation Systems Theory, and Stakeholder Theory, the article explores how regulatory structures, market dynamics, and stakeholder relationships shape the adoption and scaling of green financial technologies in an emerging market context. Through a review of global trends, Sub-Saharan African experiences, and Nigeria-specific evidence, the article identifies four principal challenges constraining green fintech growth in Nigeriaregulatory fragmentation, infrastructure deficits, limited institutional capacity, and greenwashing risks alongside four significant opportunities, including the CBN Regulatory Sandbox, Nigeria's Energy Transition Plan, the financial inclusion-climate resilience nexus, and the open banking framework. The article concludes with targeted recommendations for regulators, fintech practitioners, and policymakers aimed at building an enabling environment for sustainable financial innovation. Findings suggest that with deliberate institutional reform and strategic investment, Nigeria is well-positioned to emerge not merely as a consumer of global green fintech trends but as a pioneer of context-specific sustainable financial solutions for the African continent.