The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing dedicated tracks for virtual asset service providers and data-enabled financial services.
Applications for the programme will open on Wednesday, August 12, 2026, and close on August 31, 2026, as the apex bank seeks to strengthen responsible innovation while maintaining the stability and integrity of the financial system.
In a statement signed by the Acting Director, Corporate Communications and Investor Relations Department, Mrs Hakama Sidi Ali, the CBN said the second cohort would operate under two tracks: the Virtual Asset Service Provider (VASP) Track and the Data-Enabled Financial Services Track.
The VASP Track is designed to support innovative solutions involving virtual assets, stablecoins, payments, settlement, custody, wallets and related financial infrastructure that require supervised live testing.
The Data-Enabled Financial Services Track, which excludes VASPs, will focus on innovations leveraging secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency and consumer outcomes.
The CBN said its Regulatory Sandbox provides a controlled environment where eligible participants can test innovative financial products, services, business models and enabling technologies under the bank’s supervision.
According to the apex bank, the initiative allows innovators and regulators to engage during testing, promotes regulatory learning and encourages the development of solutions that can benefit consumers and the broader financial system.
The launch of the second cohort, it said, underscores its commitment to a transparent, proportionate and risk-based regulatory framework…
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