LemFi has appointed Dr Haydar Daudu, a former adviser to the Central Bank of Nigeria (CBN), as its Head of Regulatory Affairs and Policy, West Africa, as the fintech strengthens its regulatory and policy engagement across the region.
Daudu will lead LemFi’s regulatory and policy engagement across West Africa, with an initial focus on Nigeria, while working with the company’s legal, compliance and finance teams to support regulatory requirements as the business expands.
Before joining LemFi, Daudu advised the Deputy Governor, Economic Policy, at the Central Bank of Nigeria. He also served as Senior Economist and Chief of Staff at the D-8 Organisation for Economic Cooperation.
He holds a PhD in Economics from Nile University of Nigeria, a first-class degree in Economics from the University of Essex and an MSc in Development Economics and Policy from the University of Manchester.
LemFi said the appointment comes as Nigeria remains one of the largest remittance markets globally. The World Bank estimated that Nigeria received US$19.5 billion in diaspora remittances in 2023, accounting for around 35% of total remittances to sub-Saharan Africa.
The Central Bank of Nigeria also reported that inflows through international money transfer operators increased by around 44% in 2024 to US$4.73 billion, highlighting the growing importance of regulated channels for cross-border money transfers.
In his new role, Daudu will lead regulatory and policy engagement across West Africa, work alongside LemFi’s legal, compliance and finance teams, provide policy insight to support business decisions, and represent the company in discussions around the governance of cross-border money movement.
LemFi said the appointment reflects its commitment to transparent engagement with regulators and compliance with applicable regulatory requirements as it expands its operations across West Africa.
