Tag: #moneylender

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 In Rwanda, Non-Deposit Taking Lending Financial Institutions (NDFI) are legal entities that regularly and principally performs financial services in the form of non-deposit taking lending services or related financial services. Unlike other financial institutions such as Banks and micro finance institutions, they do not …

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. …

The Federal Competition and Consumer Protection Commission (FCCPC) has announced the extension of the deadline for the compulsory registration of online money lenders in Nigeria. The FCCPC has recently focused on the activities of digital lenders in Nigeria especially the illegal lenders, over allegations of …

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          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 …

Introduction Nigeria has about 220 Million population with about 210 Million active mobile phone users, according to the Nigerian Communications Commission, and by 2050, the nation’s population is estimated to rise to 400 Million. As of June 2022, Nigeria hit 44.30% of broadband penetration with …

INTRODUCTION Digital lending in Kenya is not only growing but also becoming highly regulated as the Kenyan Government is taking a very strong stance on regulatory compliance and consumer protection matters. Not only are money lenders now required to be registered and licensed (which is …

1. Introduction The licensing of a money lender company in Oyo State is one of the functions of the Ministry of Trade, Investment and Cooperatives (“Ministry”) of the Oyo State Government. The Ministry would issue a moneylender company a professional/business premises registration certificate, which serves …

The Nigeria’s consumer lending is currently valued at about N1.74 trillion, according to Euromonitor International, and it is expected to double by 2026. Naturally, Nigeria is a viable place to do business. As investors are expanding into the money lending business in Nigeria, they may …