Steph

Lawyer || Compliance || Fintech

[Steph @StephUzoukwu]

They don't have a standard KYC/KYB verification process?

They can do something like this casually because when it comes to tech, regulatory focus is on largely Fintechs

[Techpoint Africa @TechpointAfrica]

We created a fake restaurant on Glovo and Chowdeck using a made-up tax ID, a false address, and photos stolen from a real Lagos restaurant.

Within a few weeks, we had a device, completed onboarding training, and made a sale. https://t.co/YOxmdG6G3u

[Steph @StephUzoukwu]

Is this meant to be a cute story or something

[Ogechi🌹 @OgeDichiVic]

When I got married, it took me years to change my name on my bank app 😂😂😂😂

Guess what? My husband never sent money there.

He said, “When you do the needful, I’ll start sending money to that account, for "my wife," not "Not Ndubuisi's daughter.” And he stood on it.

Nobody had to tell me twice, I went and changed the name 😂

[Khanya_Siluma🇿🇦 @SilumaKhanya]

Beyoncé is literally the celebrity with the biggest aura right now and no one comes close to her aura

[ray ᥫ᭡ @papito_ray]

lmfao absolutely no one is convincing me that she didn’t eat this up. NO ONE

[y2k @y2kpopart]

this iconic Beyoncé look 😍 #MetGala

[2000s @PopCulture2000s]

this look is insane

[Adelanke @prettyaholicc]

Women are doing great things and I’ll be one of them.

[☆ ★ @imfynerthanfyne]

yall want this childless woman at the height of her career to date a 34 yr old serial cheating divorced rapper w/ 6 children…. Bc they both DARK SKIN??!?

Go play the sims or something

[Deborah Ocheido @d_ocheido]

9 out of 10 times you actually don’t need that sprite or 7up or coke or Fanta

You just need very cold water.

I promise

[Steph @StephUzoukwu]

Ah she's already there.
Please take exit and leave that camp for them 😭

[DEDE ASHIOGWU🌻 @dede_ashiogwu]

Guess what? 😩😩 They gave me size 46 shoe 😭😭

[miia @miiagarro]

playing victim with me is pointless because i'm a proud villain

[Steph @StephUzoukwu]

I need to start seeing more compliance persons on my TL. Particularly those in the Fintech space.

[Akpor Ikogho @legal_padi]

Someone here tried to borrow airtime from MTN or Airtel last week and got nothing.

That wasn’t a network issue. You also weren’t blacklisted for being a chronic borrower.🤣

The thing is, MTN suspended XtraTime, and Airtel followed shortly after. Both pointed to “regulatory requirements,” but didn’t say much more.

The explanation is simple.

In 2025, the FCCPC introduced the DEON Regulations. If your product gives users value now and collects later with an added charge, it simply means you are in the lending space. Airtime advances fall within that.

Once you enter that line of business, certain obligations follow:

i.e.

Registration with the FCCPC.
Clear disclosure of charges.
Proper recovery practices.
Regulatory approval to continue.

The framework started in July 2025, with a 90-days compliance window that was later extended into January 2026.

The window closed, and the services stopped. We are now seeing in real time how companies respond when regulatory pressure becomes immediate.

The FCCPC has also clarified that it did not ban airtime borrowing or data advance services. Its position is that operators were given time to regularise, and any suspension is a business or compliance decision by those operators.

There is also an ongoing court case around parts of this framework, so this is more than compliance. It is an evolving regulatory space.

For founders, this goes beyond an MTN and Airtel issue.

If your product lets users access money they do not have yet and you recover it later with an added cost, you are likely running a lending product, whatever name you give it.

And once you are in that space, the obligations follow.

The name of the product does not matter.

The structure does.

[Usman @Abiola_Usman]

Nigerian fintechs are all fighting the same fraud patterns independently, duplicating effort, and losing. The fraudsters share playbooks openly; the defenders don’t.

Sad.

[Steph @StephUzoukwu]

Only realized this wasn't true when I got to April 🥹

[ỌBA DÉLÉKÈ  👑 @ObaDeleke]

When did you realize that Months of the year are in alphabetical order?

[9𝓁𝑜𝓁𝒾𝓉𝒶𝒶𝒶𓍼🧣 @brbagainlol]

The wages of sin is Nigeria fr 💔

[Steph @StephUzoukwu]

Inverter and power bank

[Minister of Jobs @emmanuelbasy]

Remote workers in Nigeria, how are you managing your work during this period without electricity?

[Steph @StephUzoukwu]

Gosh. The fact that I work remotely in this Lagos is something I don't take for granted, because I cannot imagine myself doing this everyday 😩

[Linda Ikeji Blog @lindaikeji]

Young Lagosian shows the different buses he takes to work and how much each one costs.

When added together, his transport fare comes to almost ₦70,000 every month.

[Steph @StephUzoukwu]

This is so me 😂

[Martins Rashford @heisMartinsutd]

I need my power bank
🥷🏽: "How many percent is your phone?"

[Steph @StephUzoukwu]

Good one 👏
Now fintechs that provide cross border services can have access to various international banking partners.

[Nigerian Financial Intelligence Unit @FIUNigeria]

Nigeria is off the #FinancialActionTaskForce (FATF) Grey List!

A major step forward in strengthening our financial integrity and global reputation.

This milestone reflects the country’s sustained reforms in combating money laundering, terrorist financing and other financial crimes. Congratulations Nigeria 🇳🇬.

#Nigeria #FATF #NFIU #FinancialIntegrity