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CBN’s New Rules Aim to Tighten Fintech Oversight in Nigeria
The Central Bank of Nigeria has unveiled new regulations aimed at tightening oversight over the country's rapidly expanding fintech sector, including requirements for disclosure of Ultimate Beneficial Owners and localisation of payment data.
askFinz Newsroom· Jun 21, 2026#moves#payment#giants
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AI Summaryacross 1 source
- The Central Bank of Nigeria is implementing new rules aimed at preventing innovation from being used for illicit purposes.
- These measures include disclosure requirements for Ultimate Beneficial Owners (UBOs) and localisation of payment data by 2027.
- The directives are part of efforts to address risks in the rapidly growing payments industry, which has seen a significant increase in electronic transactions.
- Introduction to the New Regulations
- Details of the New Rules
- Impact on Fintech Sector and Consumers
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