Open banking regulation in Nigeria is now approved by the CBN

The Central Bank of Nigeria has approved the operational guidelines to open banking in Nigeria kickstarting an open banking regime in Nigeria. The guideline was released via a circular by Musa Jimoh, the Director of the CBN’s Payments System Management Department on March 7, 2023.  

The open banking regulation would usher in a transformation time for financial innovation and financial inclusion in Nigeria and Africa as a whole.

Read more: Open Banking