Nigerian Fintech Regulations 2025
14 policies that reshaped digital finance
JANUARY
Non-Resident Nigerian Accounts
Diaspora Nigerians can now remit foreign earnings and manage funds in both foreign and local currency
CBN
MARCH
Treasury Management System
New TMRMS platform replaced Remita for all government revenue collection
CBN
APRIL
Open Banking Approval
Nigeria became first African country to approve Open Banking. Go-live postponed to early 2026
CBN
APRIL
PAPSS Documentation Relief
Simplified paperwork for cross-border payments up to $2,000 (individuals) and $5,000 (corporates)
CBN
MAY
Automated AML Standards
Real-time monitoring and instant alerts mandated for high-risk transactions including crypto activity
CBN
JULY
Digital Lending Regulations
Fines up to ₦100M or 1% of turnover for violations. Registration and renewal fees introduced
FCCPC
AUGUST
POS Geo-Tagging Mandate
All terminals must operate within 10-meter radius of registered address. Compliance deadline: Oct 31
CBN
OCTOBER
Agent Banking Exclusivity
POS agents limited to one principal and one super agent. Effective April 1, 2026
CBN
NOVEMBER
Marketing Restrictions
Banned comparative ads and incentive-based marketing including spin-to-win and prize draws
CBN
DECEMBER
Revised Cash Withdrawal Rules
Weekly limits increased to ₦500K (individuals) and ₦5M (corporates). Effective Jan 1, 2026
CBN
DECEMBER
CAC POS Registration
Threatened to blacklist unregistered POS operators to reduce fraud incidents
CAC
2025
ISO 20022 Migration
Payment providers required to migrate systems. Non-compliance risks fines or license withdrawal
CBN
2025
Push Payment Fraud Guidelines
72-hour victim reporting window. Banks must investigate and refund within 16 working days
CBN
2025
IMTO Regulations
$1M minimum capital for foreign IMTOs. Banks and fintechs restricted to agent operations only
CBN