LemFi Appoints Former CBN Adviser Haydar Daudu as West Africa Policy Head

LemFi  has appointed Dr Haydar Daudu, a former adviser to the Central Bank of Nigeria (CBN) , as its Head of Regulatory Affairs and Policy, West Africa, as the fintech strengthens its regulatory and policy engagement across the region.

Daudu will lead LemFi’s regulatory and policy engagement across West Africa, with an initial focus on Nigeria, while working with the company’s legal, compliance and finance teams to support regulatory requirements as the business expands.

Before joining LemFi, Daudu advised the Deputy Governor, 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.

LemFi said the appointment comes as 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% of total remittances to sub-Saharan Africa.

The Central Bank of Nigeria also reported that inflows through international money transfer operators increased by around 44% in 2024 to US$4.73 billion, highlighting the growing importance of regulated channels for cross-border money transfers.

“As LemFi continues to grow, we are investing in the senior leadership needed to engage regulators openly, understand evolving policy expectations and maintain the high standards our customers and partners expect. Haydar brings a rare combination of economic-policy experience, regulatory understanding and practical insight into the markets we serve.”

– Ridwan Olalere, co-founder and CEO, LemFi

In his new role, Daudu will lead regulatory and policy engagement across West Africa, work alongside LemFi’s legal, compliance and finance teams, provide policy insight to support business decisions, and represent the company in discussions around the governance of cross-border money movement.

“For me, good policy is ultimately about whether institutions and markets work better for people. Cross-border finance has enormous potential to connect families, businesses and economies, but that potential depends on trust, sound regulation and institutions that can keep pace with innovation. I am joining LemFi to help build that bridge: engaging regulators openly, bringing policy insight into the business, and ensuring that growth across West Africa is responsible, credible and genuinely useful to the people we serve.”

– Haydar Daudu, Head of Regulatory Affairs and Policy, West Africa

LemFi said the appointment reflects its commitment to transparent engagement with regulators and compliance with applicable regulatory requirements as it expands its operations across West Africa.