In Nigeria, the primary government regulators in the fintech industry are:
- Central Bank of Nigeria (CBN): The central bank is responsible for regulating the country’s financial system, including fintech companies that provide payment and financial services.
- Nigerian Communications Commission (NCC): The NCC regulates the telecommunications industry in Nigeria, including fintech companies that provide mobile financial services.
- Securities and Exchange Commission (SEC): The SEC is responsible for regulating the capital market in Nigeria, including fintech companies that offer investment and crowdfunding services.
- National Information Technology Development Agency (NITDA): NITDA is responsible for regulating the use of technology in Nigeria, including fintech companies that provide digital financial services.
These regulators work to ensure the safety and security of consumers, maintain the stability of the financial system, and promote competition and innovation in the fintech industry. Companies operating in the fintech sector in Nigeria must comply with relevant regulations and obtain the necessary licenses and approvals from the relevant regulators.