The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, with a focus on virtual asset service providers and data-enabled financial services.
Applications opened on August 12, 2026, and will close on August 31 as the apex bank seeks to promote responsible innovation within Nigeria’s digital financial ecosystem.
The programme will operate under two tracks: the Virtual Asset Service Providers (VASP) Track and the Data-Enabled Financial Services Track.
The VASP Track will cover innovations involving virtual assets, stablecoins, payments, settlement, custody, wallets and related financial infrastructure requiring supervised live testing.
The second track will focus on solutions using secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management and consumer outcomes. VASPs are excluded from this track.
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According to the CBN, the Regulatory Sandbox provides a controlled environment for innovators to test new financial products, services, business models and technologies under regulatory supervision.
The bank said applications would be assessed based on innovation, readiness for live testing, consumer or market benefits, governance, risk management and the proposed testing plan.
Successful applicants will conduct supervised testing under defined safeguards covering consumer protection, cybersecurity, operational resilience and regulatory reporting.
CBN Director of Payments System Policy, Musa Jimoh, said the dedicated tracks reflected the changing nature of financial innovation and the bank’s commitment to supporting responsible and transparent technological development.
The apex bank stressed that participation in the Sandbox does not constitute a licence or authorisation to operate outside approved testing parameters.
