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Introduction
Globally, blockchain technology is an emerging recordkeeping transformative development with a vast potential to revolutionize various industries and drive economic growth. It is sometimes referred to as distributed ledger technology (DLT) which makes the history of any digital asset …
The Central Bank of Nigeria (CBN), as parts of its efforts to stabilize and deepen the financial system, issued the Operational Guidelines for Open Banking in Nigeria (the “Guidelines“), on the 7th of March 2023 to all …
In 2022, the Central Bank of Nigeria (CBN) launched the AML/CFT Law to combat money laundering, financing for terrorism, and weapon proliferation. To ensure the regulation achieves its aim, the CBN developed a guide on identifying the ultimate beneficial owner …
About half of African unicorns–startups worth more than $1 billion are from Nigeria. That is not surprising and explains why people cannot stop talking about the startup space in Nigeria. Beyond the attention, startups have significant impacts on the economy, …
As a growing company, we’re always looking for ways to improve our processes, solutions and ecosystem. We’ve made some changes to how we approach onboarding and verification for businesses that use Flutterwave for lending and fundraising in certain countries. These …
Following the new license categorizations of participants in the Nigerian payments ecosystem, the Central Bank of Nigeria (CBN) requires that any company that intends to operate in more than one license category is to set up a Payments Service Holding …
On the 12th of June 2021, the Parliament of the United Republic of Tanzania passed the Finance Bill 2021 which was assented to by the President of Tanzania on the 30th of June 2021. Following the assent, The …
On the 11th of July 2021, the Central Bank of Nigeria (CBN) issued a Regulatory Framework on Mobile Money Services in Nigeria. Mobile Money Services (MMS) involve the use of mobile phones for the initiation, authorization, and confirmation of …
On the 16th of June 2021, the Securities and Exchange Commission (SEC) announced the initiation of its Regulatory Incubation Program (“the RI Program”) which started operations in Q3 of 2021.
The aim of the RI Program is to enable …
Starting 28th June 2021, data can now freely flow between the European Union (EU) and the United Kingdom (UK). This is thanks to the adoption of two “adequacy decisions” which facilitate the seamless transmission of data between countries in the …
