CBN Opens Regulatory Sandbox for Virtual Assets, Data-Driven Finance

CBN Opens Regulatory Sandbox for Virtual Assets, Data-Driven Finance

The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing dedicated tracks for virtual assets and data-enabled financial services.

Applications for the programme open on Wednesday, August 12, 2026, and close on August 31, 2026.

In a statement signed by the Acting Director, Corporate Communications and Investor Relations Department, Mrs. Hakama Sidi Ali, the CBN said the new cohort would operate under two tracks: the Virtual Asset Service Provider (VASP) Track and the Data-Enabled Financial Services Track.

According to the bank, the VASP Track is designed to support innovative solutions involving virtual assets, stablecoins, payments, settlement, custody, wallets and related financial infrastructure requiring 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 its supervision.

The programme, according to the bank, allows innovators and regulators to engage constructively during testing, supports regulatory learning and encourages responsible innovation that benefits consumers and the wider financial system.

The launch of Cohort 2, the CBN added, reflects its commitment to a transparent, proportionate and risk-based regulatory environment that promotes innovation while safeguarding monetary and…