CBN Opens Applications for Regulatory Sandbox Cohort 2

The Central Bank of Nigeria has opened applications for Regulatory Sandbox Cohort 2. The programme allows fintechs and other innovators to test financial products in a controlled, supervised environment before wider market rollout. The cohort covers two tracks: Virtual Asset and Stablecoin Financial Services, and Data-Enabled Financial Services. Eligible applicants include CBN-licensed institutions, other regulated financial firms, virtual asset service providers, startups, and technology companies with solutions ready for live testing. Applicants must show that they have assessed relevant risks, put consumer-protection and AML/CFT controls in place, and can meet reporting and incident-notification requirements. Applications should be submitted through the CBN Regulatory Sandbox portal.

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