LemFi has strengthened its West African regulatory leadership with the appointment of Dr Haydar Daudu as Head of Regulatory Affairs and Policy, West Africa. Daudu previously advised the Deputy Governor for Economic Policy at the Central Bank of Nigeria and brings deep public sector experience to the financial platform. The appointment underlines LemFi's commitment to responsible expansion and constructive engagement with regulators across the region.
Regulatory Leadership for West Africa
In this newly created position, Daudu will lead regulatory and policy engagement across West Africa, beginning with Nigeria. He will collaborate with legal, compliance, and finance leadership to support regulatory requirements as LemFi expands. He will also provide policy insight for business decisions and represent the company in discussions on the governance of cross-border money movement.
Policy Experience and Academic Credentials
Before joining LemFi, Daudu advised the Deputy Governor for Economic Policy at the Central Bank of Nigeria. He also 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 in Economics from the University of Essex, and an MSc in Development Economics and Policy from the University of Manchester.
Nigeria's Remittance Market Momentum
Nigeria remains one of the largest remittance markets globally. The World Bank estimated that Nigeria received US$19.5 billion in diaspora remittances in 2023, accounting for around 35 percent of total remittances to sub-Saharan Africa. These flows represent a vital source of support for millions of families and a growing opportunity for regulated financial platforms.
Regulated Channels on the Rise
The Central Bank of Nigeria reported that inflows through international money transfer operators increased by around 44 percent in 2024 to US$4.73 billion. This growth highlights the increasing importance of regulated channels for cross-border money transfers. LemFi views dedicated regulatory engagement leadership as essential to meeting rising standards in this evolving landscape.
Leadership Perspectives
Ridwan Olalere, co-founder and CEO of LemFi, said the company is investing in senior leadership to engage regulators openly and understand evolving policy expectations. He noted that Daudu brings a rare combination of economic policy experience, regulatory understanding, and practical insight into the markets LemFi serves. Olalere stressed the importance of maintaining high standards for customers and partners.
A Vision for Responsible Growth
Daudu said good policy is ultimately about whether institutions and markets work better for people. He believes cross-border finance can connect families, businesses, and economies, but that potential depends on trust, sound regulation, and institutions that keep pace with innovation. He joined LemFi to help build that bridge by engaging regulators openly and ensuring growth remains responsible and credible.
Platform Expansion and Scale
Since its founding in 2021, LemFi has grown from a remittance provider into a broader financial platform for people who live and work across borders. It offers international transfers, multi-currency accounts, a card, credit-building tools, savings, and eSIM connectivity. The platform serves more than two million customers, supports transfers to more than 30 countries, and processes around US$1 billion in transactions each month.
The appointment of Dr Haydar Daudu reflects LemFi's commitment to transparent engagement with regulators and compliance as it deepens its presence in West Africa. His experience in economic policy and central banking positions the company to navigate regulatory complexity while supporting the region's growing remittance activity. LemFi is signaling that responsible governance and regional expansion will move forward together.