The Central Bank of Nigeria (CBN) is the country's apex monetary authority, established by the CBN Act of 1958 and officially commencing operations on July 1, 1959
CBN data localisation push raises concerns among fintech executives
The CBN's directive requires all payment-related data to be stored and processed within Nigeria by January 2027. Fintech executives express concerns about the local data ecosystem's readiness to handle the migration of payment data.
CBN gives banks and fintechs 6 months to localise payment data
The CBN has directed banks and payment service providers to store transaction data on local servers by January 1st, 2027. The new regulations are part of a broader effort to strengthen oversight of Nigeria's digital payments ecosystem.
This startup is betting on tap-to-pay in a transfer-dominated market
CashAfrica launched tap-to-pay functionalities on 1,000 PalmPay POS terminals in a pilot in 2025. The startup partnered with ChamsSwitch to improve payment switching and settlement processes.
MTN Nigeria shareholders to vote on fintech spin-off on Thursday
Shareholders of MTN Nigeria will vote on a restructuring plan on April 30. The restructuring will separate MTN Nigeria's fintech business from its core telecommunications operations.
New draft rules could reshape crypto in South Africa
The South African crypto industry is pushing back against the National Treasury's draft Capital Flow Management Regulations, which could impose strict controls on crypto transactions. Major players like VALR and Luno express concerns over the draft's provisions that could classify local crypto trade
