Nigeria’s fintech industry has spent the past decade rewriting the rules of financial services. Companies that began by helping businesses accept card payments or transfer money have steadily expanded into lending, savings, merchant acquiring, agency banking and, increasingly, regulated banking itself.
That strategy helped transform Nigeria into Africa’s largest digital payments market. According to the Central Bank of Nigeria (CBN), electronic payment transactions reached N1.2 quadrillion ($880.5 billion) in 2025, underlining the rapid adoption of digital financial services by consumers and businesses.
Read also: Onafriq builds stablecoin rails for African banks, fintechs to speed cross-border payments
Now, the regulator is rewriting the rulebook that enabled that growth. Between March and June, the CBN released or exposed for consultation a series of regulatory documents covering market concentration, financial holding companies, operational ring-fencing, ownership disclosure and Anti-Money Laundering (AML) controls.
While each proposal addresses a different regulatory issue, together they point to a
This post was originally published on this site.
