Banking & Finance Country Comparative Guide

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's Central Bank has introduced sweeping data localisation requirements that will fundamentally reshape how payment service providers, banks, and financial institutions handle transaction data. With a January 2027 compliance deadline, these new rules mandate that all payment transaction data generated within Nigeria must be stored and managed locally, raising critical questions about cloud infrastructure, vendor relationships, and operational readiness. This analysis examines the scope of the requirem

Following the progressive advancement in technology wherein funds are now transferred digitally without the need to visit a formal banking hall setting, incidents of erroneous transfer of funds are prevalent and inevitable.

The Nigerian Securities and Exchange Commission has introduced significant amendments to its Rules and Regulations governing Fund/Portfolio Management Operations, with far-reaching implications for how fund and portfolio managers conduct their business. These changes place heightened emphasis on investor protection, conflicts management, custody arrangements, and cross-border investments, requiring Capital Market Operators to fundamentally review their investment practices, client documentation, and governa

Nigerian fintech startups navigate a complex regulatory landscape involving the Central Bank of Nigeria, the Securities and Exchange Commission, and the Nigeria Deposit Insurance Corporation.

The Central Bank of Nigeria's Fourth Edition of the Foreign Exchange Manual introduces sweeping changes to currency and trade regulations, raising import payment thresholds, increasing tuition remittance limits...

The financial sector in Nigeria is comprised of banks and other financial institutions. These entities are primarily regulated by the Central Bank of Nigeria (CBN) to ensure the security...

The need for ease in businesses and transactions makes it necessary for individuals and business owners to access credit facility, that is, loan.

Nigeria's Central Bank has launched a new regulatory sandbox track specifically for virtual assets, marking a significant shift in the country's approach to cryptocurrency oversight.

On 16 May 2026, the Central Bank of Nigeria launched the 2026 FX Manual, marking the first comprehensive review of Nigeria's foreign exchange regulatory framework in nearly a decade.

On February 20, 2026, the Supreme Court of Nigeria (the “Supreme Court”) delivered a landmark decision in the case of Emma Elegbe & Anor v. HP International Schools Limited & 3 Ors...

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.

On May 22 and 23, 2023, the Central Bank of Nigeria ("CBN"), by a notice published in the official gazette of the Federal Government, revoked the licenses...

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?

The Federal Competition and Consumer Protection Act, 2018 ("FCCPA") is the primary legislation that governs and protects the rights of consumers in Nigeria.

On December 3, 2024, the National Pension Commission ("PenCom"), in a circular referenced "PenCom/TECH/ISD/2024/403"...

On April 7, 2025, the Lagos State Government ("LASG"), through its Ministry of Physical Planning and Urban Development (the "Ministry"), issued a public notice (the "Public Notice")...

The recent plunge in the price of crude oil globally (arising from disagreements among major international crude oil supply countries), coupled with the outbreak of the coronavirus disease...

The Nigerian Copyright Commission has issued a stern warning to DJs about unauthorized music use, but a critical question emerges: what happens when music plays in supermarkets, gyms, airports, and hotels where no DJ is present? This analysis examines why Nigeria's copyright enforcement framework must extend beyond nightclub performances to capture the vast commercial music usage occurring daily across retail, hospitality, and public venues that currently operate in a regulatory blind spot.

In line with our goal of maintaining industry leadership while constantly positioning ourselves as the ‘Firm of the Future', the Partnership has approved the admission of Mr. Chinedum Umeche, ...