westSide
13.2K posts




What’s the craziest “I’ll pay you with equity” experience you’ve ever had?



When you build a payment system and you do not understand KYC, AML, and compliance properly, I genuinely hope you do not learn it the hard way. On KYC, the CBN framework for Nigerian financial systems is structured into three tiers: Tier 1 BVN or NIN is required. Max daily transaction: ₦50,000 Max wallet balance: ₦300,000 Tier 2 BVN + liveness or facial verification + a government-issued ID Max daily transaction: ₦200,000 Max wallet balance: ₦500,000 Tier 3 Full KYC: BVN, NIN, government ID, proof of address, plus enhanced due diligence Max daily transaction: ₦5,000,000 Unlimited wallet balance If your system does not enforce these and you ship, you are not just dealing with bugs. You are dealing with regulators. And when regulators show up, it is not a debugging session. I am putting this out there because you might be excited about building a solution, not realizing you're just preparing yourself for jail time. There is a lot to building in the fintech space. This is why I strongly advise against vibe coding a fintech product. AI tools do not keep up with regulatory updates. They will not warn you about compliance gaps. And in fintech, ignorance is not a defense.




@samak1233 Alex Otti building in imo state?




@DrJoeAbah @egi_nupe Lawyers be using "learned colleague" as if the rest of us are daft 🙄


ESTABLISHMENT OF NIGERIA'S NATIONAL CYBERSECURITY COORDINATION COUNCIL TO STRENGTHEN CYBER RESILIENCE The Federal Government has signalled its intention to work collaboratively with the private sector and key stakeholders toward the establishment of a Cybersecurity Coordination Council aimed at strengthening Nigeria’s collective cyber resilience and enhancing coordinated responses to evolving cyber threats across public and private sectors. The proposed Council is envisioned as a non-statutory, multi-stakeholder coordination platform, designed to convene key actors and strengthen partnerships that support efficient coordination, trusted information sharing, and sustained cooperation among institutions responsible for advancing Nigeria’s cybersecurity posture. Please see more details in attached Press Release.


























