Published on April 7, 2026
The Central Bank of Nigeria (CBN) has initiated a pilot programme focused on key digital payment platforms including Flutterwave and Paystack, aiming to enhance oversight of virtual asset activities within its jurisdiction. This initiative is part of the CBN’s broader risk-based supervisory framework and aligns with ongoing efforts to bolster the stability of Nigeria’s financial system and maintain market integrity.
The apex bank emphasized that this pilot is designed not only to enforce regulatory measures but also to foster a secure environment for the growing prevalence of digital transactions and virtual assets in Nigeria. a structured oversight mechanism, the CBN seeks to mitigate risks associated with virtual asset-related activities, ensuring that they are conducted in compliance with established financial regulations.
The involvement of prominent payment service providers like Flutterwave and Paystack underscores the CBN’s recognition of their significant roles in the digital economy. As the popularity of virtual assets continues to rise, this pilot programme is a proactive step towards safeguarding consumers and businesses from potential financial threats arising from unregulated asset trading and transactions.
Furthermore, this initiative signals a shift towards more stringent regulatory practices as the CBN aims to adapt to the rapidly changing landscape of financial technologies and virtual assets. Stakeholders within the financial sector are anticipated to closely monitor the outcomes of this pilot, as successful implementation may set the groundwork for more comprehensive regulations in the future.
As digital finance evolves, the CBN’s commitment to maintaining oversight highlights the importance of regulatory frameworks in ensuring the integrity of the financial system. The pilot programme is expected to provide valuable insights and data that will inform future regulatory approaches to virtual assets in Nigeria.
Related News
- EL MIHRAB DE LA MEZQUITA DE CÓRDOBA
- US-Iran war: Iranian regime asks youth, athletes and students to form human chain around power plants
- Nightmare
- Piyush, Sahil hog the limelight
- Swinney softens stance on North Sea drilling as oil prices soar
- Chopping down areas of tropical rainforest is causing rising temperatures linked to thousands of deaths