CBN opens second regulatory sandbox cohort

The Nigeria — Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing dedicated tracks for Virtual Asset Service Providers (VASPs) and data-enabled financial services. Applications opened on August 12, 2026 and close on August 31, 2026. The VASP Track supports innovations involving virtual assets, stablecoins, payments, settlement, custody, wallets, and related financial infrastructure. The Data-Enabled Financial Services Track focuses on innovations using secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency, and consumer outcomes. The sandbox provides a controlled environment for supervised testing, allowing innovators and regulators to engage, promoting regulatory learning, and supporting responsible innovation. The CBN emphasized that participation does not constitute a licence or approval to operate outside approved testing parameters. The programme is powered in partnership with EMTECH. This initiative follows recent regulatory moves in Nigeria's digital asset space, including a Presidential Executive Order on Virtual Assets Coordination signed by President Bola Tinubu, new taxation guidelines from the Nigeria — Nigeria Revenue Service, and the United States — United States Securities and Exchange Commission's approval-in-principle for crypto exchanges under its Accelerated Regulatory Incubation Programme.