Comparative Guides

Welcome to Mondaq Comparative Guides - your comparative global Q&A guide.

Our Comparative Guides provide an overview of some of the key points of law and practice and allow you to compare regulatory environments and laws across multiple jurisdictions.

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4. Results: Answers
Does the fintech sector present any specific challenges or concerns from a competition perspective? Are there any pro-competition measures that are targeted specifically at fintech companies?

Answer ... Although the Nigerian fintech sector continues to grow in size and influence, it presents no serious challenges in terms of competition.

There are currently no pro-competition measures specifically designed to regulate the activities of fintech companies in Nigeria. However, the Nigerian Federal Competition and Consumer Protection Act, 2018 – which prohibits agreements in restraint of competition and require service providers to draw the attention of consumers to notices which purport to limit liability or impose obligations –is binding on all fintech companies.

For more information about this answer please contact: Davidson Oturu from AELEX