Regulatory Notice: The Securities and Exchange Commission is Accepting Applications for its Regulatory Incubation...

The Securities and Exchange Commission (SEC) has invited applications from the public for the first cohort of its Regulatory Incubation Program (Program). The Program is designed for entities offering a novel type...

FAQs on the Pan-African Payments and Settlement System

In 2021, we witnessed the commencement of trade under the African Continental Free Trade Area (AfCFTA) regime as many countries in Africa ratified the AfCFTA treaty with the aim to boost the...
IMTS

Guideline to the provision of International Money Transfer Services in Nigeria – Part B

In Part A of this two-part series on the provision of international money transfer services (IMTS) in Nigeria (access part A here), we considered the regulatory overview of IMTS in Nigeria, by...

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...

Newsletter on the CBN Revised Regulatory Framework for Bank Verification Number (BVN) Operations and...

Pursuant to a circular dated 12th October 2021, the CBN has issued a revised Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry (the Revised Regulatory Framework).

TECH Digest for June

Olaniwun Ajayi’s Technology, Innovation, and Fintech Team presents its Technology News Highlights (Highlights) for the month of June. The Highlights contain a summary of major local and international developments in the Technology...

FINTECH FORWARD LOOK 2023

The sixth edition of our Fintech Forward Look for 2023 outlines key facts and figures that shaped the fintech industry in 2022. It also gives an in-depth analysis of the key developments...

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...
USSD Pricing

Newsletter on the Joint Statement by the Central Bank of Nigeria and Nigerian Communications...

On 12 March 2021, the Association of Licensed Telecommunications Operators of Nigeria (ALTON) announced plans to withdraw all Unstructured Supplementary Services Data (USSD) services from financial service providers (FSPs1) citing their  indebtedness...

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...