All digital loan companies’ licences in Lagos State must renew their licence as same is deemed to have expired by 31st of December 2024. Effective from 1st January 2025, digital lenders must reapply to to their respective licensing authorities for the renewal of their operational licences, amongst other regulatory compliance obligations that they must fulfill if they must remain in operation in the year 2025. A digital lender may be a licensed Finance Company, Microfinance Banks (both are licensed by the Central Bank of Nigeria) or a Money Lender which is otherwise licensed by a Magistrate’s Court and the Lagos … Continue reading LICENCE RENEWAL FOR DIGITAL LENDERS IN LAGOS