Share on LinkedInShare on LinkedIn

ARTICLE · 21 JULY 2020

Overview Of The Draft Framework For Regulatory Sandbox Operations And Implications For Industry Players

TNP
Explore more from TNP

The Central Bank of Nigeria (the "CBN") recently released the Draft Framework for Regulatory Sandbox Operations ("Draft Sandbox Regulations").

NigeriaTechnology
Olumayowa Oluwole
Olumayowa Oluwole

The Central Bank of Nigeria (the "CBN") recently released the Draft Framework for Regulatory Sandbox Operations ("Draft Sandbox Regulations"). According to the CBN, the Sandbox Regulations is in recognition "of increasing consumer appetite for payment solutions and emerging disruptive technology in the financial services space" and the CBN's desire "to ensure new and more flexible ways of engaging with the industry". The Sandbox is expected to provide firms with a formal process to conduct live tests of new, innovative products, services, delivery channels, or business models in a controlled environment, with regulatory oversight.

The Draft Sandbox Regulations lists the objectives as follows:

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Virtual Asset Service Provider (VASP) Licences In Kenya & Nigeria - What You Need To Know

Kenya and Nigeria are formalizing their digital asset markets through Virtual Asset Service Provider (VASP) licensing frameworks. While both countries require regulatory approval for crypto operations, their licensing categories, capital requirements, and compliance expectations differ significantly. Understanding these distinctions is essential for fintech founders and financial institutions seeking to enter or expand in these African markets.
NigeriaTechnology
Pavestones
Pavestones
Article

Nigeria’s National Digital Cloud Policy: Key Provisions And Implications For Business

On 17 August 2026, Nigeria's Federal Government released its National Digital Cloud Policy, superseding the 2019 framework to establish a domestic cloud and data infrastructure ecosystem. The Policy introduces fiscal and regulatory incentives for qualifying investors, mandates cloud-first adoption across government agencies, and implements a four-tier sovereign data classification system that confines data residency requirements to specific categories rather than imposing blanket localisation.
NigeriaTechnology
Templars
Templars