EXAMINATION OF THE LEGAL FRAMEWORK FOR ONLINE DISPUTE RESOLUTION AND CONSUMER PROTECTION IN NIGERIA’S FINTECH INDUSTRY

This study examines the legal and institutional framework governing online dispute resolution (ODR) and consumer protection within Nigeria’s fintech industry, against the background of rapid digital financial innovation and the increasing volume of consumer complaints arising from fintech transactions. The research is motivated by persistent regulatory overlap, weak enforcement, data-protection concerns, infrastructural limitations, and low consumer awareness, all of which undermine trust in digital redress mechanisms. The study aims to assess the adequacy of Nigeria’s existing legal framework for protecting fintech consumers, evaluate the effectiveness of ODR as a dispute-resolution mechanism, and identify the challenges and prospects associated with its adoption. Key concepts examined include online dispute resolution, financial technology (fintech), consumer rights, and regulatory frameworks. A doctrinal research methodology was adopted, relying on the analysis of statutes, regulations, policy documents, case law, scholarly writings, and international best practices. The findings reveal that while legal instruments such as the Federal Competition and Consumer Protection Act 2018, the Arbitration and Mediation Act 2023, the Nigeria Data Protection Act 2023, and relevant regulatory guidelines provide a promising foundation for consumer protection and ODR, their practical effectiveness is constrained by inconsistent enforcement, fragmented regulatory oversight, infrastructural deficits, and cross-border enforcement challenges. The study recommends regulatory harmonization among relevant agencies, clearer statutory integration of ODR within fintech regulation, strengthened data-protection enforcement, improved digital infrastructure, and increased public awareness to enhance consumer trust and ensure an effective and accessible digital dispute-resolution ecosystem in Nigeria.