The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing a dual-track structure to test virtual assets and data-driven financial technologies.
Applications for the programme will open on August 12, 2026, and close on August 31, 2026.
According to a statement by the Acting Director of Corporate Communications and Investor Relations, Mrs. Hakama Sidi Ali, the new iteration is split into two dedicated areas: the Virtual Asset Service Provider (VASP) Track and the Data-Enabled Financial Services Track.
The VASP Track focuses on supervised live testing for virtual assets, stablecoins, payments, settlement, custody, digital wallets, and related financial infrastructure.
The Data-Enabled Financial Services Track, which excludes VASPs, covers innovations using secure digital infrastructure and permission-based data sharing to advance financial inclusion, credit access, payments, risk management, and operational efficiency.
Powered by technology provided in partnership with EMTECH, the CBN Regulatory Sandbox provides a controlled environment for eligible firms to test products, services, and business models under regulatory oversight.
”The introduction of dedicated tracks for Virtual Asset Service Providers and data-enabled financial services reflects the evolving nature of financial innovation and our commitment to ensuring that Nigeria’s regulatory environment continues to support responsible, transparent innovation,” said Mr. Musa Jimoh, Director of the CBN’s Payments System Policy Department.
The central bank stated that applicant submissions will be evaluated on innovation level, readiness for live testing, consumer or market benefits, governance, risk management capabilities, and the viability of the testing plan.
The CBN emphasized that selection into the Sandbox does not grant a full operational license or authorization outside the agreed testing parameters. Successful participants will conduct tests under strict safeguards covering consumer protection, cybersecurity, operational resilience, and regulatory reporting.
Interested organizations are required to apply through the official portal at https://sandbox.cbn.gov.ng before the August 31 deadline.
