The Central Bank of Nigeria (CBN) is looking at regulatory reforms aimed at easing compliance burdens on fintech firms, supporting regional expansion, and deepening financial inclusion, as pressure mounts on operators grappling with rising costs and delayed approvals.

In its 2025 Fintech Report, the apex bank disclosed plans to operationalise a Single Regulatory Window to streamline licensing and supervisory processes across multiple agencies, a move expected to significantly reduce time-to-market for new digital financial products.

“Stakeholders cited delays in approvals and ambiguity in regulatory guidelines as their most pressing concerns,” the report stated, adding that these challenges continue to inflate costs and slow innovation across the ecosystem.

The CBN report acknowledged that compliance costs remain a major drag on fintech growth, with 87.5 per cent of respondents reporting that the cost of meeting regulatory and risk requirements significantly impacts their capacity to innovate.

-Leadership

UAC of Nigeria Plc has announced its unaudited financial results for the fourth quarter and year ended December 31, 2025.

The firm recorded a 74 per cent increase in revenue to N343.4 billion, following the successful completion of its transformational acquisition of CHI Limited alongside continued contributions from the Group’s core operating businesses.

The 2025 financial year marked a strategic inflexion point for the Group, characterised by significant scale expansion, entry into large consumer growth categories, and strong underlying earnings momentum, albeit alongside N21.2 billion in one-off acquisition-related costs. Excluding these non-recurring costs, underlying profit before tax rose by 76 per cent year-on-year to N28.7 billion, underscoring the strength of the Group’s core operating performance.

In the fourth quarter alone, the inclusion of three months’ performance from CHI Limited drove a 62 per cent year-on-year increase in revenue to N183.8 billion, providing early evidence of the earnings potential of the expanded portfolio.

Operating profit stood at N8.2 billion, down from N12.2 billion in Q4 2024, reflecting the impact of one-off transaction costs related to the acquisition of CHI Limited.

Excluding these one-off costs, operating profit surged to N20.3 billion, representing a 66 per cent year-on-year increase.

The acquisition of CHI Limited has significantly broadened UAC’s operating base, adding leading consumer brands such as Chivita, Hollandia, and Capri-Sun, while SuperBite and Beefie have further strengthened the Group’s snacks portfolio. The transaction has also deepened leadership and operational capacity across the Group.

Speaking on the results, group managing director, UACN, Fola Aiyesimoju, said, “2025 was a pivotal year for UAC. The completion of the acquisition of C.H.I. Limited significantly increased the scale of our Group, with revenue reaching N343 billion, a 74 per cent increase compared to 2024.

“While Group profitability was impacted by N21 billion one-off acquisition costs, our underlying performance was strong, with profit before exceptional items rising by 76 per cent to N29 billion, from N16 billion in 2024. With the acquisition completed, our focus is on executing our value creation plan, prioritising margin recovery and working capital optimisation, to deliver stakeholder value consistent with our growth strategy.”

Segment performance reflected a mix of consolidation gains and macroeconomic headwinds. The Packaged Food and Beverages segment emerged as the Group’s largest contributor following the inclusion of CHI Limited, delivering N204.5 billion in full-year revenue.

The Paints segment also delivered another year of steady growth, supported by increased demand for premium products and improved product mix.

In the Edibles and Feeds segment, operating conditions remained challenging due to declining agricultural commodity prices. During the fourth quarter, the segment recognised an inventory write-down of N4.1 billion to net realisable value, a prudent measure that strengthens balance sheet resilience and supports improved margin performance going forward.

Beyond its operating subsidiaries, UAC also benefited from improved contributions from associate companies, supported by sales of non-core property assets at MDS Logistics Limited.

Looking ahead, UACN stated that it entered 2026 with a strengthened portfolio, improved earnings base, and a clear execution agenda, positioning the Group to unlock value from its expanded portfolio and deliver consistent long-term shareholder value.

-Leadership

The National Commissioner of the Nigeria Data Protection Commission (NDPC), Dr Vincent Olatunji, has stated that Data protection-related activities have generated over N16.2 billion for the Nigerian economy, creating employment opportunities for Nigerians in the digital ecosystem.

Speaking at a media training workshop in Lagos on the backdrop of the National Privacy Week 2026 “Privacy in the Era of Emerging Technologies: Trust, Ethics and Innovations” Dr Olatunji stated that this significant revenue is supplemented by additional income from licensing and penalties, describing privacy as a strategic confidence-building tool that will drive Nigeria’s digital transformation and attract investment.

He declared data privacy a fundamental human right and a critical pillar for trust, equity and freedom in Nigeria’s fast-growing digital economy, noting that the rapid adoption of telecommunications, artificial intelligence, robotics and digital platforms makes privacy protection no longer optional, but essential for national development.

The NDPC boss stressed that journalists must first understand the subject deeply before driving public awareness, emphasising that responsible reporting is key to building confidence in digital systems and protecting citizens’ rights.

He, however, traced the evolution of Nigeria’s data protection framework from the launch of the Nigeria Data Protection Regulation (NDPR) in 2019 to the establishment of the NDPC with full legal authority. He explained that the commission is driven by strategic pillars of awareness, human capital development, cooperation, technology-driven systems, strong governance, and sustainable funding.

According to him, these reforms have transformed the sector, growing the number of licensed Data Protection Officers from zero to over 7,000, with more than 23,000 professionals now working across the country’s data privacy ecosystem, supported by local certification programmes and a Virtual Privacy Academy.

He added that compliance in the public sector has improved significantly from an initial four per cent, as sector regulators now lead data protection efforts across their industries.

Olatunji stated that on the global stage, Nigeria is working with more than 40 countries and international data protection bodies, while NDPC is an active member of the Network of African Data Protection Authorities (NAPA), and a recent recipient of the Picasso Award as Africa’s most outstanding data protection authority.

Commenting, legal expert Barr. Alex Onwe, in a comprehensive overview of the Nigeria Data Protection Act (NDPA) 2023, asserted that the new law establishes a critical framework for safeguarding personal information in the digital age.

Onwe stated, “The foremost object of the NDPA is to safeguard the rights and freedoms of data subjects, as guaranteed under the Constitution”

While highlighting the law’s foundation in fundamental human rights, with its application extending to any entity processing the data of individuals in Nigeria, regardless of where the organisation is domiciled.

Barr. Onwe detailed the core principles organisations must follow, including lawful processing and stringent security measures, warning of severe penalties for non-compliance, including fines of up to two per cent of annual revenue.

He urged organisations to develop data privacy policies and ensure rigorous staff training. While adding that proactive adherence is not just a legal duty but essential for building trust, as the NDPC is empowered to enforce the Act through investigations, orders, and substantial penalties.

-Leadership