The House of Representatives will hold a public hearing this Monday on a bill proposing the creation of a dedicated Nigerian Fintech Regulatory Commission to regulate the country's fast-growing fintech sector.
The session is being convened by a joint committee made up of the panels on Digital and Electronic Banking, Banking Regulations, Science and Technology, Communications, and Capital Market and Other Financial Institutions.
The legislation, sponsored by Hon. Fuad Kayode Laguda (APC, Surulere I, Lagos), passed second reading in October 2025.
Supporters say a standalone commission would provide specialized licensing, supervision, and enforcement for digital payments, lending platforms, and other fintech innovations potentially simplifying the current multi-agency oversight involving the Central Bank of Nigeria (CBN), SEC, and others.
The hearing will allow industry players, experts, and the public to contribute views on shaping fintech regulation in Africa's largest fintech market, striking a balance between innovation, consumer protection, and regulatory clarity.
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