Netherlands Authority for Consumers & Markets

Over the past week, we at Lendsqr have watched a sustained wave of attacks on Nigerian financial institutions. Several banks, fintechs and lenders are being targeted at the same time, and the patterns are consistent enough that we think they are worth acting on now. On 6 November, we sent a security advisory to security […]

Operating a lending business in Nigeria requires more than capital and customers, it also requires compliance with the country’s regulatory framework. From licensing and consumer protection to data privacy and credit reporting, several regulators play important roles in overseeing lending activities. Understanding who these regulators are and what they require can help lenders avoid penalties, build trust with borrowers, and operate sustainably in an increasingly regulated financial ecosystem.

Nigeria’s financial ecosystem is a dynamic network of institutions, technologies, and regulatory bodies working together to drive economic activity and expand access to financial services. From traditional banks and microfinance institutions to fintech startups and payment providers, each player plays a distinct role in how money moves across the system. Understanding the services they offer and the regulators that oversee them is essential for anyone looking to navigate, participate in, or build within this evolving landscape.