LemFi appoints Dr Haydar Daudu as Head of Regulatory Affairs and Policy, West Africa

● Senior leadership for LemFi’s regulatory and policy engagement across West Africa, with an early focus on Nigeria

● Dr Haydar Daudu is an economist and former public-sector adviser who has worked with the Central Bank of Nigeria and the D-8 Organisation for Economic Cooperation

● LemFi, a CBN-licensed IMTO since 2023, serves more than 2 million customers and moves money to over 30 countries

LemFi, the financial platform for people who live and work across borders, today announced the appointment of Dr Haydar Daudu as Head of Regulatory Affairs and Policy, West Africa.

An economist and former public-sector adviser, Dr Haydar Daudu previously advised the Deputy Governor, Economic Policy, at the Central Bank of Nigeria. He also served as Senior Economist and Chief of Staff at the D-8 Organisation for Economic Cooperation. He holds a PhD in Economics from Nile University of Nigeria, a first-class degree in Economics from the University of Essex and an MSc in Development Economics and Policy from the University of Manchester.

In the role, Daudu will lead LemFi’s regulatory and policy engagement across West Africa, working closely with the company’s legal, compliance and finance leadership. The appointment reflects LemFi’s commitment to constructive, transparent engagement with regulators and to meeting applicable regulatory requirements as it expands across West Africa.

Ridwan Olalere, co-founder and CEO of LemFi, said: “As LemFi continues to grow, we are investing in the senior leadership needed to engage regulators openly, understand evolving policy expectations and maintain the high standards our customers and partners expect. Haydar brings a rare combination of economic-policy experience, regulatory understanding and practical insight into the markets we serve.”

Nigeria remains one of the world’s largest remittance markets. According to the World Bank, the country received an estimated US$19.5 billion in diaspora remittances in 2023, around 35% of the total for sub-Saharan Africa and the largest of any country in the region. Money sent home by people living and working abroad is a vital source of support for millions of families, and a growing share now moves through regulated channels like LemFi: the Central Bank of Nigeria reported that inflows through international money transfer operators rose by around 44% in 2024, to US$4.73 billion. Cross-border payments in the country operate within an evolving regulatory framework, and for LemFi, dedicated regulatory-engagement leadership will help it meet rising standards and contribute to the wider conversation on how cross-border money should be governed.

Haydar Daudu, LemFi’s Head of Regulatory Affairs and Policy, West Africa, said: “For me, good policy is ultimately about whether institutions and markets work better for people. Cross-border finance has enormous potential to connect families, businesses and economies, but that potential depends on trust, sound regulation and institutions that can keep pace with innovation. I am joining LemFi to help build that bridge: engaging regulators openly, bringing policy insight into the business, and ensuring that growth across West Africa is responsible, credible and genuinely useful to the people we serve.

Since its founding in 2021, LemFi has grown from a remittance provider into a broader financial platform for people who live and work across borders, offering international transfers, multi-currency accounts, a card, credit-building tools, savings, and eSIM connectivity. It serves more than 2 million customers, supports transfers to more than 30 countries, and processes around US$1 billion in transactions each month.

About LemFi: LemFi is the financial platform for people who live and work across borders, on a mission to make everyday financial services fair, simple and accessible for communities overlooked by traditional banks. Founded in 2021, LemFi serves more than 2 million customers, supports transfers to over 30 countries, and processes around US$1 billion each month. It is backed by investors including Highland Europe, Left Lane Capital, Endeavor Catalyst, Palm Drive Capital and Y Combinator. For more information, visit www.lemfi.com.