Interrogating the Disruptive Synergies between Blockchain‑Enabled Distributed Ledger Architectures and The Evolutionary Trajectories of Financial Technology Ecosystems in Nigeria

Abstract

Blockchain‑enabled distributed ledger architectures have emerged as one of the most consequential digital infrastructures reshaping contemporary financial systems. Their decentralized, immutable and transparent design challenges long‑established models of financial intermediation while simultaneously catalyzing new configurations within financial technology (FinTech) ecosystems. This study interrogates the disruptive synergies between blockchain technology and the evolutionary trajectories of FinTech development in Nigeria, a leading digital finance hub in Sub‑Saharan Africa characterized by rapid innovation alongside regulatory ambivalence. Adopting a systematic literature review methodology, six peer‑reviewed scholarly studies and authoritative policy sources were synthesized and thematically analyzed across four analytical dimensions: conceptual foundations, functional significance, sectoral impacts and implementation challenges of blockchain within Nigeria’s FinTech landscape. The findings indicate that blockchain architectures possess substantial transformative potential across payments, cross‑border remittances, trade finance, capital markets, regulatory compliance and customer due diligence processes. By enabling disintermediation, programmable trust through smart contracts and real‑time auditability, blockchain technology reconfigures efficiency, transparency and risk management within financial services. However, regulatory uncertainty, infrastructural deficits, cybersecurity concerns and skills gaps continue to constrain large‑scale adoption. The paper argues that Nigeria’s FinTech evolution is increasingly inseparable from blockchain innovation and calls for coherent regulatory recalibration, institutional capacity building and ecosystem‑wide collaboration. The study contributes to the growing African FinTech literature by situating blockchain not merely as a technological artefact, but as a systemic enabler shaping the future architecture of digital finance in Nigeria.