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 engagement across the region.
Daudu will lead LemFi’s regulatory and policy activities across West Africa, initially focusing on Nigeria. He will work alongside the company’s legal, compliance and finance teams to support regulatory requirements as LemFi continues expanding its operations.
Before joining LemFi, Daudu advised the Deputy Governor for Economic Policy at the Central Bank of Nigeria. He previously served as Senior Economist and Chief of Staff at the D-8 Organisation for Economic Cooperation.
Daudu 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 continues to play a significant role in the global remittance market. The World Bank estimated that Nigeria received US$19.5 billion in diaspora remittances in 2023, accounting for approximately 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 importance of regulated channels for cross-border money transfers.
In his new position, Daudu will provide policy insight to support business decisions and represent LemFi in discussions concerning the regulation and governance of cross-border money movement.
LemFi co-founder and CEO Ridwan Olalere said Daudu brings economic policy and regulatory experience that will support the company’s engagement with regulators and its expansion across the region.
Daudu said effective policy should help institutions and markets work better for people, adding that cross-border finance depends on trust, sound regulation and institutions capable of keeping pace with innovation.
LemFi said the appointment reflects its focus on transparent regulatory engagement and compliance with applicable requirements as it expands its financial services across West Africa.
