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Newsletter on the new CBN Supervisory Framework for Payment Service Banks in Nigeria.

In addition of the Guidelines for the Licensing and Regulation of Payment Service Banks (PSBs) by the Central Bank of Nigeria (CBN) in 2018 and revised in 2020, the CBN has yet...

Newsletter on the Revised MMO Guidelines and Regulatory Framework

In an effort to reflect the current operational realities of Mobile Money Operators (MMOs) in Nigeria, the Central Bank of Nigeria (CBN), on 09 July 2021, issued an updated Regulatory Framework for...

GUIDELINES ON SHARED SERVICES ARRANGEMENTS FOR BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA

The Central Bank of Nigeria (CBN) recently issued the Guidelines on Shared Services which apply to financial institutions (including Fintech companies). Specifically, the Guidelines regulate the shared services arrangements...

FAQ on Fintech Acquisitions of Microfinance Banks

Due to the absence of a definitive regulatory framework on digital banking in Nigeria, Fintechs have devised alternative means for offering certain banking services. As Microfinance banks (MFBs) are permitted to offer...
OA deals

OALP – Enabling Partnerships across Africa

“At Olaniwun Ajayi LP, we believe in enabling partnerships, and are happy that our Technology, Innovation and Fintech team has been part of the implementation of the strategic partnership between Flutterwave and...
Payment System

Newsletter on the Categorisation for the Nigerian Payments System

In furtherance of the objective and commitment to promote a strong and credible payment system in Nigeria, the Central Bank of Nigeria (CBN) on 9 December 2020 published the Circular on New...
BOFIA-GB

The Banks and other Financial Institutions Act 2020 – Spotlight on Notable Provisions

On 13 November 2020, the President of the Federal Republic of Nigeria assented to the Bill to repeal the almost three-decade old Banks and Other Financial Institutions...
Netting Provisions

An Appraisal of Netting Provisions Under the Companies and Allied Matters ACT 2020

The new Companies and Allied Maters Act, 2020 (the Act or CAMA 2020), made significant amendments and introductions to the Nigerian companies’ laws, one of which is the provision for statutory enforcement of netting...
CBN Guidelines

Overview of the Updated CBN Guidelines for Payment Service Banks

The CBN, in a bid to promote financial inclusion and enhance access to financial services for low income earners and unbanked segments in society, proposed the establishment and licensing of Payment Service...
SEC Statements on Digital Assets

Securities and Exchange Commission’s Statement on Digital Assets

Previously, digital assets such as cryptocurrencies and tokens were unregulated in Nigeria, with regulators taking a cautious approach, and urging the public to tread carefully when investing in such assets.