Fintech in Nigeria
Fintech regulation in Nigeria does not wait for you to be ready.
Licensing by the Central Bank of Nigeria, AML/CFT obligations, and the Nigeria Data Protection Act apply from day one, whether or not you have hired for compliance yet.
Serving Nigeria: CBN payment and MFB licensing, SEC digital asset registration, NDPA compliance, and AML/CFT programmes that survive an NFIU review.
The gap we close
Compliance is not a pre-launch step.
Most fintech teams build the product first and treat compliance as a step that happens before launch, once. In practice, it is a standing obligation that shifts as the Central Bank of Nigeria updates its rules, as your product changes, and as your customer base grows. The companies that get this wrong do not usually find out from a competitor. They find out from a regulator, a sponsor bank, or an investor's due diligence team, and by then the cost of fixing it is higher than the cost of building it right the first time.
What we do for fintech
Six ways in.
- 01
Fintech Compliance Health Check
A scored assessment against the current rules of the Central Bank of Nigeria, with a remediation roadmap.
- 02
AML/KYC Framework
The policies and controls a regulator expects, built to your specific product and customer base, not a generic template.
- 03
PSP Regulatory Readiness
Preparation for PSSP, MMO, PSB, and switching licence categories, scoped to where you are in the process.
- 04
Payment Compliance Review
A focused review of your payment flows against current Nigeria payment regulation.
- 05
Licensing Roadmap
A staged, sequenced path from where you are to an approved licence, with the documentation each stage requires.
- 06
Fractional Compliance
Ongoing, senior-led compliance support without the cost or timeline of a full-time hire.
Who this is for
Seed to Series A, and beyond.
Fintechs preparing for a licence from the Central Bank of Nigeria, companies already licensed and formalizing their compliance function, and teams that have hit a gap in an investor's due diligence.
Where to start
Legum provides regulatory and compliance advisory services. Where a matter requires licensed legal representation, we will say so clearly before work begins.