As the new year unfolds the Nigeria Federal Government has disclosed its plans to crackdown on unlicensed fintech startups in 2022. The government will regulate the fintech startups through the Central Bank of Nigeria, CBN. This is amidst the rise in the online financial services market championed by fintech startups.
According to the Federal Competition and Consumer Protection Commission (FCCPC) which states that the joint committee addressing violations of consumer rights in the money lending industry will shut down the illegal firms.

https://businesselitesafrica.com/nigeria-to-crackdown-on-unlicensed-fintech-startups-in-2022/