Newsletter on the eNaira Draft Regulatory Guidelines

In an attempt to provide legal and regulatory clarity on the proposed eNaira, the CBN has prepared the draft Regulatory Guidelines on eNaira (Draft Guidelines). Upon its issuance by the CBN, the...

Digital Banking in Nigeria: The State of Play and Legal Framework

In Part A of this Article, we examined the value proposition and factors driving the adoption of digital banking in Nigeria including the challenges facing the sector. Part B of the Article...

Digital Banking in Nigeria: The State of Play and Legal Framework

In recent times, the country has witnessed the rise of a new category of fintechs, digital banks, also known as challenger banks or neo-banks. These are institutions leveraging technology to offer full...

FAQs on the CBN Guidelines for Licensing and Regulating Payment Holding Companies 2021

In 2020, the Central Bank of Nigeria (CBN) published the CBN Circular on New Licence Categorisations for the Nigerian Payments System wherein it mandated financial technology companies desirous of operating switching and...

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...

SEC RULES CREATE A NEW LICENSE CATEGORY FOR DIGITAL SUB-BROKERS

The Securities and Exchange Commission (SEC) recently created a new category of operators in the capital market by creating a new licence category for Digital Sub-Brokers. This move is...

Newsletter on the Regulatory Framework for Non-Bank Acquiring Services in Nigeria

In 2020, the Central Bank of Nigeria (CBN) issued the Circular on New Licence Categorisation for Nigerian Payments System wherein the CBN signaled that the scope of permissible activities of Switches and...

New Approved License Categorizations Requirements for the Nigerian Payments System

Following the Central Bank of Nigeria (CBN)'s issuance of a Circular on the New Licence Categorisation for the Nigerian Payments System in December 2020, the apex bank has now published a consolidated...