August 11, 2024

The Corporate Affairs Commission (CAC) is Nigeria’s regulatory body responsible for the incorporation, regulation, and dissolution of companies. A critical aspect of this regulatory function is the annual filing of returns by registered companies. This statutory obligation, often overlooked, carries profound legal implications that can significantly impact a company’s existence and operations.

Nigeria’s FinTech sector is experiencing a surge, driven by a young, tech-savvy population and a growing demand for accessible financial services. However, this dynamic ecosystem operates within a framework of regulations aimed at ensuring financial stability, consumer protection, and data security. This article explores the definition of FinTech, delves into the key Nigerian laws governing this sector, and outlines the steps FinTech companies can take to achieve compliance.