Fintech company LemFi has appointed Dr Haydar Daudu, a former adviser to the Central Bank of Nigeria (CBN), as its Head of Regulatory Affairs and Policy for West Africa.
The appointment, announced on September 22, 2026, comes as the financial technology company continues to expand its services across West Africa, with Nigeria as an early focus of its regulatory engagement.
In his new role, Daudu will lead LemFi’s regulatory and policy activities across the region. He will work closely with the company’s legal, compliance and finance teams and provide policy insights to support business decisions as the company expands.
LemFi said the appointment reflects its commitment to maintaining open and constructive relationships with regulators while meeting applicable regulatory requirements in the markets where it operates.
Daudu brings experience from both Nigeria’s central banking system and international economic cooperation. Before joining LemFi, he advised the Deputy Governor for 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.
The new policy chief 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’s appointment comes as cross-border payments and remittances remain an important part of Nigeria’s financial sector.
According to figures cited by LemFi from the World Bank, Nigeria received an estimated $19.5 billion in diaspora remittances in 2023, representing about 35 per cent of remittance flows to sub-Saharan Africa. The CBN also reported that inflows through international money transfer operators increased by about 44 per cent in 2024 to $4.73 billion.
The figures highlight the size of the market in which companies such as LemFi operate and the importance of regulatory compliance as digital financial services expand.
LemFi is a CBN-licensed International Money Transfer Operator (IMTO). The company says it serves more than two million customers, supports transfers to more than 30 countries and processes about $1 billion in transactions each month.
Since its establishment in 2021, LemFi has expanded beyond remittances to offer services including international transfers, multi-currency accounts, cards, savings and other financial products for people who live and work across borders.
Commenting on the appointment, LemFi co-founder and Chief Executive Officer Ridwan Olalere said the company was investing in senior leadership as it grows and needs to engage regulators while keeping pace with changing policy expectations.
Daudu said effective regulation would be important to the growth of cross-border finance, particularly as technology continues to change how individuals and businesses move money internationally.
The appointment therefore places Daudu at the centre of LemFi’s engagement with regulators and policymakers across West Africa, particularly as the company seeks to expand its services while operating within the region’s evolving financial regulations.
