LemFi appoints ex-CBN adviser Haydar Daudu to lead West Africa regulatory affairs
LemFi has appointed Dr Haydar Daudu as Head of Regulatory Affairs and Policy for West Africa, with an initial focus on Nigeria. Daudu, an economist and former public-sector adviser, previously advised the Deputy Governor, Economic Policy, at the Central Bank of Nigeria and served as Senior Economist and Chief of Staff at the D-8 Organisation for Economic Cooperation. He holds a PhD in Economics from Nile University of Nigeria, a first-class degree from the University of Essex and an MSc in Development Economics and Policy from the University of Manchester.
The CBN-licensed international money transfer operator, which serves more than 2 million customers, processes around US$1 billion in monthly transactions and enables transfers to over 30 countries, says the hire underscores its commitment to constructive, transparent engagement with regulators as it expands across West Africa. Ridwan Olalere, LemFi’s co-founder and CEO, noted that Daudu brings a rare blend of economic-policy experience, regulatory insight and practical market understanding needed to maintain the standards customers and partners expect.
Daudu said good policy ultimately depends on whether institutions and markets work better for people, and he aims to help build a bridge between regulators and innovators so that cross-border finance remains trustworthy, credible and genuinely useful. Nigeria remains one of the world’s largest remittance markets, having received an estimated US$19.5 billion in diaspora inflows in 2023; CBN data shows inflows through regulated IMTOs rose about 44% in 2024 to US$4.73 billion.
Will this strengthened regulatory team help LemFi keep transfer costs low, speed up compliance for its 2 million users, and shape a more supportive environment for cross-border payments across the region?