Tag: #CBN

The Central Bank of Nigeria (“CBN”) has issued our Client, LibertyPay Limited, a fintech company in Nigeria, a Payment Solutions Service Licence to operate agency banking business in the country. Super-Agents are Fintech companies with the lowest capital requirement threshold (being N50 Million) in the …

There is major development on the Corporate Affair Commission (“CAC”) online portal which sets a new tune in the registration of companies in Nigeria. The CAC portal is now linked with the National Identity Management Commission (“NIMC”) portal to enforce the use of the National …

Introduction As you commence your entrepreneurship journey into the year 2023, we thought it would be helpful to highlight some of the small and medium businesses in Nigeria which, in our view, have topmost potentials. We have compiled the list based on the frequency of …

The financial sector in Ghana has grown rapidly since 2010 and continues to evolve with the aid of technology. Fintech businesses in Ghana span the insurance, agriculture, banking and investment sectors. The number of Ghanaians with access to formal financial services has equally improved considerably. …

By 31st of December 2022, all existing money lender’s licences in Nigeria will expire and all loan companies doing business in the country must reapply to to their respective licensing authorities for renewal of their operational licences, amongst other regulatory compliance obligations that they must …

The Federal Competition and Consumer Protection Commission (“FCCPC”) has in the exercise of its powers under its enabling law, ventured into the regulation of digital lending business in Nigeria. Recently, in exercise of the powers conferred upon it by sections 17, 18 and 163 of …

1.0. Why Regulatory Sandbox and Which Fintech Company Should Participate in Regulatory Sandbox? In view of the growing demand for easier and cheaper payment solutions through disruptive technology in the financial services space, the Central Bank of Nigeria (CBN) has deemed it pertinent to ensure …

1          Can a business be registered as a Limited Liability Partnership in Nigeria? Yes. The introduction of Limited Partnership (“LP”) and Limited Liability Partnership (“LLP”) is one of the fundamental watersheds that the Companies and Allied Matters Act 2020 (“CAMA”) has afforded the investors community …

The data on fintech payment released by the Nigeria Inter-Bank Settlement Systems (“NIBSS”) has revealed that payment transactions worth N33.2 trillion were performed electronically in August through the NIBSS Instant Payment platform (NIP). This brings the total value of e-payment deals in the last 8 months to N238.7 trillion! …

Micro-finance banks are fast growing credit companies in Nigeria with an edge of being deposit-taking institutions over and above the State-licensed money lending companies which are licensed only to lend money but not to process cash deposits from customers. According to the Nigerian Bureau of …