CBN orders fintechs, banks to localise payment data, caps market dominance

The Central Bank of Nigeria, CBN, has directed banks, fintechs and other operators in the payments ecosystem to store all payment transaction data generated in Nigeria within the country, while also introducing measures to curb excessive market dominance in the industry.

martedì 16 giugno 2026 New tab

June 16, 2026

•Mandates beneficial ownership disclosure

•Sets 25% threshold, 15% cross-market cap

•Compliance deadline set for Dec. 31, 2026

By Babajide Komolafe

CBN orders fintechs, banks to localise payment data, caps market dominance

CBN orders fintechs, banks to localise payment data, caps market dominance

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