WEBINAR DETAILS
Date: 19 April 2023
Time: 2:00 PM UTC
Duration: 60 min
Language: English
Format: Online
This webinar is over - watch on demand here
WEBINAR DESCRIPTION

Worldwide: Nigerian and United States Regulatory Requirement for FinTechs

The Financial Services sector globally is one sector that has been significantly impacted by the rapid growth of technology and innovation. With the growing appetite of consumers, for faster and more convenient financial services, Financial Technology startups (“FinTechs”) have been instrumental in meeting these needs.

In Nigeria, FinTechs have played an integral part in solving key issues such as the large unbanked population; the underdeveloped credit system; friction in international money transfer; and difficulties in payment settlement systems. Accordingly, FinTechs in Nigeria provide a wide range of services including digital banking; international money transfer services; digital lending services; payment service systems; open banking systems; digital investments amongst other services. FinTechs in Nigeria were reported to have attracted over $1.2bn in investments in 2022.

Nigerian regulators in the Financial Services sector have attempted to match the growth rate of innovation by developing regulations to guide their activities at a much quicker pace than usual. Although the regulators have struggled to meet up, a body of regulations have been developed to guide the activities of FinTechs in Nigeria and compliance is crucial.

Apart from ensuring regulatory compliance, attracting funding is key to the success of FinTechs in Nigeria. For this purpose, most FinTechs have set up complex structures- with their parent companies located outside of Nigeria-without fully understanding the compliance requirements in such regions. A popular location for this purpose is Delaware, United States of America.

This webinar aims to guide the audience on the Nigerian and United States regulatory terrain for FinTechs from a compliance and funding perspective. 

SPEAKERS
Seun Timi-Koleolu

Seun Timi-Koleolu is the Managing Partner/Co-Founder of Pavestones.

Her practice experience spans across Technology, Foreign Investments, Data Protection, Corporate Commercial Law. She is recognised as a highly skilled, commercially minded lawyer, who is able to balance her passion for excellence with her desire to ensure clients achieve their commercial goals. She has strong strategic thinking skills, which she utilises to positively impact the growth of businesses.

Seun Timi-Koleolu was conferred with the prestigious award of Partner of the year 2021 at the African Legal Awards.

Aderonke Alex-Adedipe

Aderonke Alex-Adedipe has extensive experience advising local and foreign financial institutions on Trade Finance, Reserve Based Lendings,Business Formation, Corporate Structures, Investment Incentives, Immigration, Asset Acquisitions and other project finance transactions, which cut across various sectors both local and foreign.

She was recognised by IFLR 1000, as a Highly Regarded Lawyer in the Project Finance, Oil and Gas and Real Estate sectors in 2018. she was also recognised by the Esquire Nigerian Legal Awards as one of the 40 outstanding lawyers under the age of 40 who have distinguished themselves and are clearly setting new standards in the legal sector.

Gary Ross

Gary J. Ross focuses his practice on securities law, venture capital and private equity, corporate governance, and general corporate matters.

Gary has extensive experience representing small- to large-cap companies in public securities offerings, including initial public offerings of common equity, follow-on common stock offerings, preferred stock offerings, offerings of convertible and exchangeable securities, and offerings of senior and subordinated debt securities. He has spent his legal career providing advice to clients as to the Securities Act of 1933 and the Securities Exchange Act of 1934.

Gary also regularly counsels private companies and investors in structuring private venture capital investments, including cross-border investments. He is particularly active in West Africa and India. He has worked with companies in many sectors, including entertainment, real estate, and FinTech. His experience includes expert witness engagements in commercial litigation matters.

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