CBN Guidelines for Licensing and Regulation of Payment Service Holding Companies (22pshc22)- The What; The Dos and The Do
INTRODUCTION There have been notable regulatory developments in the framework for financial technology (Fintech) in recent times in Nigeria. The Central Bank of Nigeria has issued several guidelines implementing its policies for regulating Fintech related services in the Nigerian financial sector. On August 3, 2021, the Central Bank of Nigeria (“CBN”) took another step furthering […]
The Securities and Exchange Commission’s Regulatory Incubation Program for Fintech Startups in Nigeria: A Summary.
Introduction: Recently, the Nigerian Securities and Exchange Commission (“SEC”) issued a circular introducing its Regulatory Incubation Program (“the Program”) for Financial Technology (“FinTech”) Companies.1. SEC describes the new regulation as an interim measure to aid the evolution of effective regulation. SEC aims to accommodate innovation by FinTech companies without compromising market integrity and investor confidence […]
A Commentary on the CBN Guidelines for Licensing and Regulation of Payment Service Banks in Nigeria 2020
INTRODUCTION: In furtherance of its mandate to promote financial inclusion and following the recent advancements concerning the interplay between Financial Technology (Fintech) and access to financial services in the Nigerian Banking Sector, the Central Bank of Nigeria (CBN) recently reviewed and updated the 2018 Guidelines for Licensing and Regulation of Payment Service Banks in Nigeria […]