CBN deepens fintech regulation with second sandbox cohort

The Central Bank of Nigeria (CBN) has launched the second cohort of its Regulatory Sandbox Programme, aimed at fostering financial technology innovation while ensuring financial stability, consumer protection, and market integrity. The new cohort expands the scope to include virtual assets, stablecoins, and data-driven financial services, creating two dedicated testing tracks.

The Virtual Asset Service Provider Track will focus on innovative virtual assets, stablecoins, payment, settlement, custody, and wallet solutions, while the Data-Enabled Financial Services (Non-VASP) Track will support innovations that leverage secure digital infrastructure and permission-based data sharing for financial inclusion, payments, credit, risk management, operational efficiency, and consumer outcomes.

Applications for Cohort 2 opened on August 12, 2026, and will close on August 31, 2026, allowing eligible innovators, financial institutions, virtual asset service providers, fintechs, and technology companies to participate in the controlled testing environment.

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