* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Saturday, May 31, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    i3D Robotics Unveils Breakthrough Glass Defect Detection Technology – USGlass Magazine

    Revolutionary Glass Defect Detection Technology Unveiled by i3D Robotics!

    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

    Get Ready to Race: The Ultimate Beer Run Experience Awaits!

    Rachel Guttman Launches Entertainment Law Firm Gutt Law, PLLC [Exclusive] – MusicRow.com

    Rachel Guttman Unveils Exciting New Entertainment Law Firm: Gutt Law, PLLC!

    HYBE Cashes In: Offloads Final Stake in K-Pop Rival SM Entertainment for $177 Million!

    Allied Gaming & Entertainment Receives Expected Nasdaq Notice Regarding Delayed Quarterly Report – Business Wire

    Allied Gaming & Entertainment Faces Nasdaq Notice Over Delayed Quarterly Report

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Weekly Entertainment Report May 29-June 1: Where to find lively arts, music, and shows – Manchester Ink Link

    Aziz Ansari made Keanu Reeves Indian food so he wouldn’t feel ‘freaked out’ directing him in Good Fortune (exclusive) – Entertainment Weekly

    Aziz Ansari Whips Up Indian Cuisine for Keanu Reeves to Ease Directing Jitters in Good Fortune

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology

    Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

    Stop the Machines: The Rise of Anti-Technology Extremism – International Centre for Counter-Terrorism – ICCT

    Unplugged: The Surge of Anti-Technology Extremism

    Finland to head EU’s quantum defense technology project – Latest news from Azerbaijan

    Finland Takes the Lead in Pioneering EU’s Quantum Defense Technology Initiative!

    i3D Robotics Unveils Breakthrough Glass Defect Detection Technology – USGlass Magazine

    Revolutionary Glass Defect Detection Technology Unveiled by i3D Robotics!

    4Liberty Announces Collaboration with Itron to Drive Innovation in Utility Technology Adoption and Optimization – FinancialContent

    4Liberty Partners with Itron to Revolutionize Utility Technology and Boost Innovation

    Q1 2025 Quantum Technology Investment: What’s Driving the Surge in Quantum Investment? – The Quantum Insider

    Unleashing the Future: Exploring the Surge in Quantum Technology Investments for Q1 2025

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home News

Why Nigerian fintech firms are facing regulatory issues—AFN president

May 7, 2024
in News
Why Nigerian fintech firms are facing regulatory issues—AFN president
Share on FacebookShare on Twitter

President of the Africa Fintech Network (AFN), Dr. Segun Aina, has said that some of the regulatory issues facing fintechs in Nigeria are due to the dynamic nature of their technology-enabled business.

Speaking in an interview with Nairametrics against the backdrop of the recent clampdown on some fintechs by the Central Bank of Nigeria (CBN), Dr. Aina said governments and regulators globally are struggling to regulate technology because it moves at a very fast pace.

While noting that regulations may create impediments for the fintechs at the beginning, he said in the end, it would benefit them and the financial system. He, however, warned against policies that could stifle innovation.

Innovation vs regulation

Pointing to the fact that innovation is always ahead of regulation, Dr. Aina said:

“One of the fastest and most dynamic sectors today is technology because it continues to change. So, the regulators and governments have to struggle to cope with how to regulate fintech because when you say innovation, these are things that did not exist before. “Regulation may create some encumbrances for those who are in the business, but eventually it’s going to benefit the system because it will make everyone better at the business.“What is important is that the policies must be friendly, must recognize that there is a need to innovate, and the policymakers must make sure that they carry along all the stakeholders so that they don’t just come up with a policy that will stifle innovation because that is worse.”Corporate governance issue

Dr. Aina said fintechs are also having challenges due to corporate governance issues. According to him, because most fintechs are small businesses, they do not have corporate governance structures that could compare to that of a commercial bank.

However, he noted that as they grow over time, they will begin to put the right structure in place. He said the first set of Nigerian fintechs that are moving to other markets are putting in place proper corporate governance.

The AFN President said the issue of corporate governance has now become a focal point for all fintech stakeholders in Nigeria as that is expected to spark the next stage of fintech growth in the country.

The backstory

The CBN recently directed four fintechs – OPay, Palmpay, Moniepoint, and Kuda Bank – to stop onboarding new customers over the suspicion that their platforms are being used by criminal elements to maneuver foreign exchange through crypto trading.

Earlier, a court order had been obtained by the Economic and Financial Crimes Commission (EFCC) to freeze at least 1,146 bank accounts belonging to different people and businesses that were allegedly engaged in illicit foreign exchange dealings.

Some of the fintechs have argued that while 90% of the accounts in question were commercial bank accounts, only the fintechs were asked to stop onboarding customers. However, industry analysts said the ease with which new fintech accounts can be opened with little KYC instigated the CBN’s action against the companies.

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : Nairametrics – https://nairametrics.com/2024/05/07/why-nigerian-fintech-firms-are-facing-regulatory-issues-afn-president/

Tags: “Nigerianfintechnews
Previous Post

Apapa Customs Command rakes in N672 billion in four months

Next Post

Money laundering: Access Bank staff member testifies against Yahaya Bello’s nephew, others

Predicting invasion costs from sparse data – Nature

Unlocking the Secrets of Invasion Costs: Insights from Sparse Data

May 31, 2025
High school science teacher’s advice leaves lasting mark on student – MSN

How a High School Science Teacher Inspired a Lifelong Passion for Learning

May 31, 2025
RFK Jr. threatens to bar government scientists from publishing in leading medical journals – Politico

RFK Jr. Vows to Restrict Government Scientists from Publishing in Top Medical Journals

May 31, 2025
Monique Thomas gifts love with Stem & Story Studio – Jamaica Gleaner

Monique Thomas gifts love with Stem & Story Studio – Jamaica Gleaner

May 31, 2025
Texas vs. Florida: 2025 Women’s College World Series Game 1 | Extended highlights – NCAA.com

Texas vs. Florida: 2025 Women’s College World Series Game 1 | Extended highlights – NCAA.com

May 31, 2025
Proposed URI medical school could fill doctor shortage, boost economy, draft report finds – The Public’s Radio

New URI Medical School: A Solution to Doctor Shortages and Economic Growth!

May 31, 2025
Entertainment: On Your Marks, Get Set, Beer Run! – Urban Milwaukee

Get Ready to Race: The Ultimate Beer Run Experience Awaits!

May 31, 2025
Trump administration ‘MAHA’ health report cited nonexistent studies – Reuters

Trump Administration’s ‘MAHA’ Health Report: Uncovering the Truth Behind Questionable Studies

May 31, 2025
Tributes pour in honoring legacy of legendary politician John Thrasher – Florida Politics

Celebrating the Enduring Legacy of Legendary Politician John Thrasher

May 31, 2025

Revolutionary Harvesting Technology Promises to Slash CAR-T Manufacturing Costs!

May 31, 2025

Categories

Archives

May 2025
MTWTFSS
 1234
567891011
12131415161718
19202122232425
262728293031 
« Apr    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (653)
  • Economy (668)
  • Entertainment (21,574)
  • General (15,252)
  • Health (9,710)
  • Lifestyle (670)
  • News (22,149)
  • People (670)
  • Politics (676)
  • Science (15,890)
  • Sports (21,172)
  • Technology (15,655)
  • World (656)

Recent News

Predicting invasion costs from sparse data – Nature

Unlocking the Secrets of Invasion Costs: Insights from Sparse Data

May 31, 2025
High school science teacher’s advice leaves lasting mark on student – MSN

How a High School Science Teacher Inspired a Lifelong Passion for Learning

May 31, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version