Olaniwun Ajayi LP

May 11, 2022

Newsletter on SEC Proposed Rules for Registration of Virtual Asset Service Providers

In 2020, the Securities and Exchange Commission (SEC) expressed its intention to regulate the virtual assets when it released the “Statement on digital assets and their Classification and Treatment”. However,...

March 22, 2022

NEWSLETTER ON THE DRAFT GUIDELINES FOR THE REGISTRATION AND OPERATION OF BANK NEUTRAL CASH HUBS IN NIGERIA

In a bid to reduce cost and improve operational efficiency in the country’s cash management value chain and to promote a sound financial system in Nigeria, the Central Bank of...

February 4, 2022

FAQs on the Pan-African Payments and Settlement System

In 2021, we witnessed the commencement of trade under the African Continental Free Trade Area (AfCFTA) regime as many countries in Africa ratified the AfCFTA treaty with the aim to...

October 27, 2021

Newsletter on the CBN Revised Regulatory Framework for Bank Verification Number (BVN) Operations and Watch-List for the Nigerian Banking Industry

Pursuant to a circular dated 12th October 2021, the CBN has issued a revised Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry (the Revised Regulatory Framework)....

October 18, 2021

Newsletter on the eNaira Draft Regulatory Guidelines

In an attempt to provide legal and regulatory clarity on the proposed eNaira, the CBN has prepared the draft Regulatory Guidelines on eNaira (Draft Guidelines). Upon its issuance by the...

October 5, 2021

Digital Banking in Nigeria: The State of Play and Legal Framework

In recent times, the country has witnessed the rise of a new category of fintechs, digital banks, also known as challenger banks or neo-banks. These are institutions leveraging technology to...

July 15, 2021

Newsletter on the new CBN Supervisory Framework for Payment Service Banks in Nigeria.

In addition of the Guidelines for the Licensing and Regulation of Payment Service Banks (PSBs) by the Central Bank of Nigeria (CBN) in 2018 and revised in 2020, the CBN...

July 12, 2021

Newsletter on the Revised MMO Guidelines and Regulatory Framework

In an effort to reflect the current operational realities of Mobile Money Operators (MMOs) in Nigeria, the Central Bank of Nigeria (CBN), on 09 July 2021, issued an updated Regulatory...

June 23, 2021

GUIDELINES ON SHARED SERVICES ARRANGEMENTS FOR BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA

The Central Bank of Nigeria (CBN) recently issued the Guidelines on Shared Services which apply to financial institutions (including Fintech companies). Specifically, the Guidelines regulate the shared services arrangements within...

April 23, 2021

FAQ on Fintech Acquisitions of Microfinance Banks

Due to the absence of a definitive regulatory framework on digital banking in Nigeria, Fintechs have devised alternative means for offering certain banking services. As Microfinance banks (MFBs) are permitted...

May 11, 2022

Newsletter on SEC Proposed Rules for Registration of Virtual Asset Service Providers

In 2020, the Securities and Exchange Commission (SEC) expressed its intention to regulate the virtual assets when it released the “Statement on digital assets and their Classification and Treatment”. However,...

March 22, 2022

NEWSLETTER ON THE DRAFT GUIDELINES FOR THE REGISTRATION AND OPERATION OF BANK NEUTRAL CASH HUBS IN NIGERIA

In a bid to reduce cost and improve operational efficiency in the country’s cash management value chain and to promote a sound financial system in Nigeria, the Central Bank of...

February 4, 2022

FAQs on the Pan-African Payments and Settlement System

In 2021, we witnessed the commencement of trade under the African Continental Free Trade Area (AfCFTA) regime as many countries in Africa ratified the AfCFTA treaty with the aim to...

October 27, 2021

Newsletter on the CBN Revised Regulatory Framework for Bank Verification Number (BVN) Operations and Watch-List for the Nigerian Banking Industry

Pursuant to a circular dated 12th October 2021, the CBN has issued a revised Regulatory Framework for BVN Operations and Watch-List for the Nigerian Banking Industry (the Revised Regulatory Framework)....

October 18, 2021

Newsletter on the eNaira Draft Regulatory Guidelines

In an attempt to provide legal and regulatory clarity on the proposed eNaira, the CBN has prepared the draft Regulatory Guidelines on eNaira (Draft Guidelines). Upon its issuance by the...

October 5, 2021

Digital Banking in Nigeria: The State of Play and Legal Framework

In recent times, the country has witnessed the rise of a new category of fintechs, digital banks, also known as challenger banks or neo-banks. These are institutions leveraging technology to...

July 15, 2021

Newsletter on the new CBN Supervisory Framework for Payment Service Banks in Nigeria.

In addition of the Guidelines for the Licensing and Regulation of Payment Service Banks (PSBs) by the Central Bank of Nigeria (CBN) in 2018 and revised in 2020, the CBN...

July 12, 2021

Newsletter on the Revised MMO Guidelines and Regulatory Framework

In an effort to reflect the current operational realities of Mobile Money Operators (MMOs) in Nigeria, the Central Bank of Nigeria (CBN), on 09 July 2021, issued an updated Regulatory...

June 23, 2021

GUIDELINES ON SHARED SERVICES ARRANGEMENTS FOR BANKS AND OTHER FINANCIAL INSTITUTIONS IN NIGERIA

The Central Bank of Nigeria (CBN) recently issued the Guidelines on Shared Services which apply to financial institutions (including Fintech companies). Specifically, the Guidelines regulate the shared services arrangements within...

April 23, 2021

FAQ on Fintech Acquisitions of Microfinance Banks

Due to the absence of a definitive regulatory framework on digital banking in Nigeria, Fintechs have devised alternative means for offering certain banking services. As Microfinance banks (MFBs) are permitted...