Digital money lending entails the provision of consumer loans through electronic channels to customers. Local and international investors can carry on the business of digital money lending in Nigeria subject to compliance with applicable laws and regulations. The provision of digital money lending services in Nigeria requires navigation and compliance with applicable legal requirements in…
Introduction The Nigeria Data Protection Act (NDPA), 2023 is the principal legislation regulating the processing of personal data in Nigeria. It established the Nigeria Data Protection Commission (NDPC) as the regulatory authority responsible for overseeing data protection compliance in Nigeria including the registration of Data Controllers and Data Processors of major importance. Further to the…
Introduction Digital payments have continued to experience exponential growth and acceptance which is particularly accentuated by Financial Technology (FinTech) companies in Nigeria. The Central Bank of Nigeria (CBN) has also issued regulatory policies promoting the adoption of cashless transactions consummated through mobile banking and internet banking channels, unstructured supplementary service data (USSD), payment gateways, etc.…
Data privacy rights are rights that relates to the privacy of your personal data such as your name, date of birth, phone number, email address, etc. The right to data privacy is an important one and it is constitutionally guaranteed in Nigeria. Thus, obligation is imposed on anyone in lawful possession of your data to…