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
Talent acquisition
What is the applicable employment regime in your jurisdiction and what specific implications does this have for fintech companies?

Answer ... The applicable laws on employment in Nigeria are set out in:

  • the Constitution of the Federal Republic of Nigeria, 1999 (as amended);
  • the Labour Act (L1, Laws of the Federation of Nigeria, 2004);
  • federal and state laws relating to employment and labour; and
  • the common law of contract.

There are no fintech-specific employment laws in Nigeria, but fintech companies are still generally required to comply with legislation such as the Constitution of the Federal Republic of Nigeria (which prohibits discrimination on account of sex or on any other grounds) and the Labour Act (if fintech companies have staff who generally perform clerical work or manual tasks).

For more information about this answer please contact: Davidson Oturu from AELEX
How can fintech companies attract specialist talent from overseas where necessary?

Answer ... Fintech companies are generally free to recruit foreign expertise to anchor or aid their operations and processes by leveraging their products, market share and existing networks, or those of their funding partners. In doing so, however, they are expected to comply with the provisions of the law concerning business and residence permits.

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