LemFi Appoints Dr Haydar Daudu to Lead West Africa Policy

In Short

• LemFi has appointed Dr Haydar Daudu as Head of Regulatory Affairs and Policy, West Africa.
• The role covers regulatory engagement across West Africa, starting with a strong focus on Nigeria.
• LemFi says it serves over 2 million customers and supports transfers to more than 30 countries.

What Happened

LemFi announced it has hired Dr Haydar Daudu to lead its regulatory and policy work across West Africa.

Daudu is an economist and former public-sector adviser. He previously advised the Deputy Governor, Economic Policy, at the Central Bank of Nigeria. He also worked as Senior Economist and Chief of Staff at the D-8 Organisation for Economic Cooperation.

LemFi said Daudu will work closely with the company’s legal, compliance, and finance teams. Compliance means following rules set by regulators, like anti-money laundering checks that help prevent illicit funds moving through the financial system.

The company operates as a Central Bank of Nigeria licensed IMTO since 2023. IMTO stands for International Money Transfer Operator, a regulated firm that moves money across borders.

Why It Matters

Nigeria is one of the world’s biggest remittance markets. The World Bank estimates Nigeria received about $19.5 billion in diaspora remittances in 2023, which is around 35% of sub-Saharan Africa’s total.

More of that flow is moving through regulated channels. The Central Bank of Nigeria reported that remittances through IMTOs rose by about 44% in 2024 to $4.73 billion.

For cross-border payments firms, this growth comes with tighter expectations from regulators. A senior policy lead can help LemFi respond faster to new rules, reduce licensing and compliance risks, and keep corridors open as it expands across West Africa.

It also signals a broader trend in African fintech. As regulators push for stronger oversight, companies are investing more in governance, policy, and compliance leadership, not just product and growth teams.