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).
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.