When Nigerian fintech companies expand across Africa, the technology often travels easily. Payments APIs integrate quickly, merchants understand the products, customers adopt digital wallets and online checkout tools without much friction. Regulation, however, does not travel as easily.
A fintech that is licensed in Nigeria must often repeat the entire licensing process when entering another African market, navigating new capital requirements, compliance rules, reporting standards, and supervisory expectations. The result is a fragmented regulatory landscape that many fintech founders say slows expansion across the continent.
This challenge sits at the centre of the Central Bank of Nigeria’s Fintech Policy Insight Report, which explores the potential role of regulatory passporting in reducing duplication across jurisdictions.
