Nigeria: FinTech

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Article
Issuing Foreign Currency Denominated Securities In Nigeria: Regulatory Framework, Constraints And Implementation Considerations
The Nigerian Exchange Group has unveiled plans to allow Nigerian companies with significant foreign exchange revenue and free trade zone enterprises to issue and list bonds and stocks denominated in US Dollars. This initiative aims to provide an avenue to meet the foreign exchange needs of such companies while enhancing investment opportunities in Nigerian capital markets.
Nigeria Finance
UU
Udo Udoma & Belo-Osagie
Article
NRS’ Guidelines On The Taxation Of Virtual Assets: Key Highlights, Implications And Compliance Obligations For Market Participants
Nigeria's Revenue Service has issued comprehensive guidelines establishing the country's first administrative framework for taxing virtual assets and cryptocurrency transactions. The new rules classify digital assets into six categories and outline detailed compliance obligations for individuals, companies, and Virtual Asset Service Providers operating in Nigeria's digital economy.
Nigeria Tax
BI
Banwo & Ighodalo
Article
Nigeria’s Marine Insurance Gap: Why Market Creation Beats Market Entry
Nigeria cedes $4-5 billion annually in marine liability insurance premiums to foreign institutions, creating a legally mandated market opportunity with no domestic competitor. Development finance institutions and blended capital structures could establish the country's first Protection and Indemnity club, capturing a revenue stream that currently flows entirely offshore while building critical local capacity in underwriting, claims management, and maritime risk assessment.
Nigeria Insurance
PM
PYE·M Systems
Article
Nigeria's New Virtual Assets Framework: Seven Steps Fintechs Must Take To Compete And Comply
Nigeria has taken another significant step towards bringing virtual assets, cryptocurrency businesses and blockchain-enabled financial services within a more coordinated regulatory framework. President Bola Ahmed Tinubu's Presidential Executive Order on Virtual Assets Coordination, 2026 should not be viewed as another attempt to prohibit digital assets. Nor does it replace the existing powers of the Central Bank of Nigeria, the Securities and Exchange Commission (SEC), the Nigeria Revenue Service or other relevant agencies.
Nigeria Technology
SP
SimmonsCooper Partners
Article
Digital Lending Regulations In Nigeria: What Every Loan App Must Know After The FCCPC Court Victory
The Federal High Court's recent affirmation of the FCCPC's regulatory authority over digital lending marks a pivotal moment for Nigeria's loan app industry. With enforcement of the DEON Regulations now fully resumed, digital lenders face renewed scrutiny over registration, transparency, data privacy, and debt recovery practices. Understanding these compliance requirements is no longer optional—it's essential for survival in Nigeria's evolving fintech landscape.
Nigeria Finance
OA
Olisa Agbakoba Legal (OAL)
Article
Presidential Executive Order Boosts Virtual Assets Regulation In Nigeria
President Bola Ahmed Tinubu has signed a Presidential Executive Order establishing Nigeria's first coordinated national framework for virtual assets regulation. The Order creates a Virtual Asset Council comprising the CBN, SEC, NRS, NFIU and ONSA to harmonize oversight, clarify regulatory responsibilities, and eliminate fragmented supervision across digital asset activities. How will this institutional restructuring impact VASPs, market participants, and the broader Nigerian digital assets ecosystem?
Nigeria Finance
BI
Banwo & Ighodalo
Article
FinTech Licence Revocations And Crypto Dispute Resolution: Regulatory Pressure And Emerging Conflict Mechanisms In Nigeria
Nigeria's FinTech and cryptocurrency sectors face intensified regulatory scrutiny as the Central Bank of Nigeria and Securities and Exchange Commission adopt assertive enforcement measures, leading to licence revocations and operational restrictions. How are these regulatory pressures reshaping the digital asset landscape, and what dispute resolution mechanisms are emerging to address conflicts in this evolving ecosystem?
Nigeria Technology
OA
Olisa Agbakoba Legal (OAL)
Article
Regulatory Finality Or Rights Erosion? Reassessing The CBN’s One-Time Phone Number Update Rule Through The Lens Of Rectification And Proportionality
The Central Bank of Nigeria's new rule limiting BVN-linked phone number changes to just once raises critical questions about balancing financial security with data subject rights. As phone numbers serve as essential authentication tools yet remain inherently changeable due to theft, loss, or compromise, this regulatory restriction may conflict with statutory rectification rights under data protection law.
Nigeria Finance
SB
Stren & Blan Partners
Article
Beyond Delisting: The CBN’s Automated AML Standards And Nigeria’s Shift To Continuous Compliance
Nigeria's removal from the FATF Grey List and the European Commission's high-risk list marks a significant regulatory milestone, but sustaining compliance requires robust automated systems. The Central Bank of Nigeria has issued comprehensive Baseline Standards for Automated Anti-Money Laundering Solutions, establishing minimum functional, governance, and control requirements that all CBN-regulated financial institutions must implement within strict timelines. What specific capabilities must these systems s
Nigeria Government
TA
Tope Adebayo LP
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