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CBN introduces regulations to limit market share for banks and fintech in Nigeria’s digital payments spaceNew rules aim to prevent dominance and enhance competition among payment service providers in NigeriaFirms must comply with market reporting and host payment infrastructures locally or face sanctions
Pascal Oparada is a journalist with Legit.ng, covering technology, energy, stocks, investment, and the economy for over a decade.
The Central Bank of Nigeria (CBN) has rolled out sweeping new regulations aimed at preventing any single bank or fintech company from dominating Nigeria’s fast-growing Point-of-Sale (PoS) and digital payments ecosystem.
The new policy could reshape competition among major players, including OPay, Moniepoint, PalmPay, Paystack, Flutterwave and traditional banks that have aggressively expanded their footprints across consumer and merchant payments.
Olayemi Cardoso-led CBN announces sweeping policies to restrict fintechs advancement. Credit: CBNSource: Twitter
CBN sets strict market share limits
In a circular released on Monday, June 15, 2026, the apex bank announced that any
