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...

Robots may start giving investment advice in the Nigerian capital market

The Securities and Exchange Commission has proposed a regulation for Robo-advisers in the Nigerian capital market. The proposed regulations create a new class of participants in the Nigerian capital...

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...
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...