How is a Loan Company regulated in Nigeria? A loan company, whether buy-now-pay-later (“BNPL”) or digital lender or cooperative society or whatever the design, is usually regarded as a money lender under a State’s Money Lenders Law in so far as it is providing micro or consumer credit to individual or small businesses. It is noteworthy that a loan company can also be registered in Nigeria as a micro finance bank or finance company under the regulation of the Central Bank of Nigeria (“CBN”). The first category of loan company is regulated by either the Magistrate’s Court or the Ministry … Continue reading REGISTRATION OF LOAN COMPANY IN NIGERIA