Following the emergence of online betting, the Nigerian gambling industry has experienced extraordinary growth in the past few years. This also followed the legalization of some forms of gambling in…
A money lender looking to operate in Nigeria must navigate a regulated framework that governs loan services across the country. With Nigeria being a leading Fintech hub in Africa, we…
A Payment Solution Service Providers (PSSP) licence is a financial licence within the payments system which is issued by the Central Bank of Nigeria (CBN). A PSSP licence authorizes the licensee to provide and operate payment processing gateway and portals, solution/application development, and merchant service aggregation and collections services. A PSSP license does not provide the authorization to hold customers’ funds or create and issue wallets. PSSPs are predominantly Financial Technology (FinTech) companies that enable and facilitate online and offline payments solutions which include collections, check-out, biller aggregation and payout services.
The Nigerian Startup Act, 2022 (the Act) was signed into law on 19th October 2022 by President Muhammad Buhari. The core objectives of the Act are to boost digital operations…