Bridging the Divide: How Eniola Taiwo’s Smartsave is Bringing Offline Nigeria into the Digital Economy

An Exclusive Interview with CityBuzzNews

CityBuzzNews: In today’s Nigeria, fintech startups seem to emerge almost every week, many of them targeting the same digital-savvy population. But there’s still a large segment of the population that operates mostly in cash. What inspired you to focus on this overlooked group?

Eniola Taiwo: You’re absolutely right. We looked at the market and saw a gap wide enough to drive a truck through. Everyone was building for the online user, but no one was building a bridge for the offline user to cross over. That’s the problem we decided to solve with Smartsave. We wanted to make financial inclusion truly inclusive.

CityBuzzNews: That’s an interesting perspective. So how exactly does Smartsave bridge that gap between offline and online users?

Eniola Taiwo: Smartsave operates on what we call a “phygital” model – essentially a blend of physical and digital services. Instead of expecting users to come fully online immediately, we meet them where they are. We have a network of trained field agents, or what we call account officers, who go into communities, register customers physically, and collect cash savings directly from them.

Once the agent collects a deposit, they log it into our admin app. Within moments, that transaction reflects in the customer’s Smartsave digital wallet, and they get an SMS confirming it. From there, they can download our app and begin tracking their balance in real time. It’s seamless.

CityBuzzNews: That sounds like a clever way to build trust. What made you believe this model would work in a cash-heavy society like Nigeria?

Eniola Taiwo: It all comes down to trust. You can’t just tell someone who has dealt in cash their whole life to suddenly trust a mobile app. You have to start with a handshake, a receipt, and a human conversation. Once they see that their physical cash is now safely reflected in a digital balance they can view, the fear fades. That’s when adoption begins.

We realized that digital transformation for this segment has to start from relationship before technology.

CityBuzzNews: Impressive. How has the response been so far in terms of growth and adoption?

Eniola Taiwo: It’s been very encouraging. We’ve already onboarded over 5,000 users, even though we’re still in our growth phase. What’s more exciting is that about 40% of those who started with only physical deposits have now downloaded the Smartsave app to track their savings and even make bill payments.

So far, we’ve processed over ₦30 million in transactions, including savings and bills. Every week, our field officers keep signing up dozens of new customers who eventually begin engaging with the app themselves. It’s a gradual but powerful migration from offline to digital.

CityBuzzNews: Beyond the business numbers, what does this mean to you personally as a founder?

Eniola Taiwo: For me, this goes beyond business. It’s about empowerment. Smartsave is not just helping people save – it’s helping them build financial confidence.

When I see a woman who has always relied on cash now using the Smartsave app to pay her electricity bill or track her savings, that’s deeply fulfilling. We are guiding people into the digital economy one Naira at a time, and that, to me, is the real impact.

CityBuzzNews: Finally, where do you see Smartsave – and the future of fintech in Nigeria – heading next?

Eniola Taiwo: I believe the future of fintech in Nigeria isn’t purely digital; it’s phygital. For financial inclusion to truly work in a country like ours, innovation must walk hand-in-hand with accessibility and human connection. Smartsave is proving that you can merge both worlds successfully – and that’s where we’re headed.