The Central Bank of Nigeria (CBN) has recently announced the possible upgrade of the operating licences of major Financial Technology Companies (Fintech) and Microfinance Banks (MFB’s) to national status. This upgrade is not a blanket change for all licence classes…
The Federal Competition and Consumer Protection Commission (FCCPC), hereinafter referred to as “the Commission”, in line with the Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, 2025 (DEON Regulations), has taken steps to clamp down on Digital Money Lending (DML)…
The Securities and Exchange Commission (“the Commission”) has issued a Circular (“the Circular”) titled “Revised Minimum Capital (MC) for Regulated Capital Market Entities. The Circular states revised MC thresholds; the SEC has indicated it will issue separate guidance on compliance…
Entrepreneurship has become the backbone of Nigeria’s economy. A 2023 Forbes Africa statistics report stated that the number of startups in Nigeria surpassed 3,360, ranking among the highest in Africa.[i] The report further states that thesestartups are responsible for a…
The Federal Government of Nigeria is implementing a 7.5% Value-Added Tax (VAT) on fees for various electronic banking services, including USSD (Unstructured Supplementary Service Data) transactions, mobile transfers, and card-related fees. Effective January 19, 2026, banks and fintech companies are required to collect…
As we draw nearer to the close of 2025, Nigerian businesses stand at the threshold of one of the most significant regulatory transitions. A number of legislative reforms enacted in 2025 will take effect from 1st January 2026, fundamentally reshaping…
Nigeria’s evolving corporate landscape, particularly within growth-driven sectors such as finance, technology, and digital sectors, demands increased scrutiny of governance standards concerning director removal, internal investigations, and executive discipline. Recent corporate controversies have revealed a recurring governance flaw, organisations sometimes…
A unified authority to license, regulate, and supervise all fintech operations in Nigeria. Issue Date: October 28, 2025. The Nigerian House of Representatives has advanced a landmark bill to its second reading, proposing the establishment of the Nigerian Fintech Regulatory…
Nigeria’s fintech industry is one of Africa’s most dynamic, with rapid innovation driven by digital payments, mobile money, and API-based financial services. To maintain stability and protect consumers, the Central Bank of Nigeria (CBN) has introduced several licensing frameworks that…
On November 7, 2025, the Nigeria Inter-Bank Settlement System (NIBSS) reported that Nigeria recorded its first successful transaction on the National Payment Stack (NPS), the country’s new real-time payment infrastructure powered by NIBSS.This landmark event, executed by PalmPay and Wema…
