CBN Orders Banks and Fintechs to Disclose Beneficial Owners, Localise Payment Data
The Central Bank of Nigeria (CBN) has introduced sweeping new regulations aimed at increasing transparency, reducing market concentration, and strengthening oversight within the country’s rapidly expanding digital payments industry. In a circular dated June 15, 2026, and signed by the Director of the Payments System Supervision Department, Dr. Rakiya Yusuf, the apex bank directed banks,…
