Cross-border payment and remittance platform LemFi (formerly Lemonade Finance) has appointed former Central Bank adviser Dr. Haydar Daudu as Head of Public Policy and Regulatory Affairs for West Africa.
LemFi has appointed economist and former public-sector adviser Dr. Haydar Daudu as its Head of Regulatory Affairs and Policy for West Africa, strengthening the fintech firm’s regulatory compliance and policy engagement across the region.
In his new role, Dr. Daudu will lead LemFi’s regulatory strategy and public policy initiatives across West African markets, with an immediate focus on Nigeria. Working alongside the company’s legal, compliance and finance teams, he will provide policy insights to guide business decisions and represent LemFi in industry discussions regarding the governance of international money transfers and digital financial services.
Dr. Daudu brings extensive public-sector experience to LemFi having previously served as an adviser within the Central Bank of Nigeria (CBN). During his tenure at the central bank, he served as Special Adviser to the Deputy Governor for Economic Policy and later as Special Adviser to the Deputy Governor for Corporate Services.
Prior to his time at the CBN, Dr. Daudu spent over four years with the D-8 Organization for Economic Cooperation serving as Senior Economist and Chief of Staff. He holds a PhD in Economics from Nile University of Nigeria, a Master’s degree in Development Economics and Policy from the University of Manchester and a First Class Bachelor’s degree in Economics from the University of Essex.
The executive appointment comes as cross-border remittance flows into West Africa continue to grow significantly. Nigeria remains one of the world’s largest remittance corridors, receiving an estimated $19.5 billion in diaspora inflows in 2023 accounting for roughly 35% of all remittances sent to Sub-Saharan Africa, according to World Bank estimates.
Furthermore, central bank data indicates that money moving through licensed International Money Transfer Operators (IMTOs) increased by approximately 44 percent in 2024 to reach $4.73 billion.
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Founded in 2021, LemFi serves over 2 million customers and processes around $1 billion in cross-border transactions each month across more than 30 countries. The platform offers multi-currency accounts, international transfers, card services, credit-building tools and eSIM connectivity.
Ridwan Olalere, co-founder and CEO of LemFi stated that hiring experienced leadership reflects the company’s commitment to engaging openly with financial regulators and meeting evolving compliance standards as the platform expands.
Commenting on his appointment, Dr. Daudu noted that effective policy ensures financial systems work reliably for consumers, emphasizing that he joins LemFi to bridge the gap between regulatory expectations and private-sector innovation to support responsible transparent growth across West Africa.
