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…
Nigeria’s payment system has experienced a significant shift from traditional cash-based exchanges to advanced digital platforms, mirroring global trends in financial technology adoption.[1] This progress is supported by the Central Bank of Nigeria’s regulatory framework, established under the Banks and…
The Central Bank of Nigeria (CBN) has issued a new directive regulating cash-based transactions and the operation of agent banking nationwide. The new directive, Guidelines for the Operations of Agent Banking in Nigeria, was released on the 6th day of…
The regulation of digital assets in Nigeria has entered a more coordinated phase, following years of fragmented oversight between the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC). While both regulators exercise distinct statutory mandates, with…
It was reported that the Director General of the National Pension Commission (PenCom), Omolola Oloworaran, announced the launch of Pension Revolution 2.0 in a statement shared via her official X (Twitter) handle on Monday, the 22nd day of September 2025.…
INTRODUCTIONIn a move to modernize Nigeria’s Insurance landscape, President Bola Ahmed Tinubu signed the Nigerian Insurance Industry Reform Act (NIIRA) 2025 into law.The NIIRA 2025, assented to on August 5, 2025, repeals the Insurance Act, Cap. 117, Laws of the…
On 20th March 2025, the Nigeria Data Protection Commission (NDPC) issued the Nigeria Data Protection Act (NDPA) General Application and Implementation Directive, 2025 (GAID). After a six-month transition, the GAID took effect on 19 September 2025. It operationalizes the NDPA…
On the 26th day of June 2025, the tax reform Acts (the Nigeria Tax Administration Act, the Nigeria Revenue Service Act, the Joint Revenue Board Act and the Nigeria Tax Act 2025) were signed into law. The Acts were subsequently…
