CBN orders fintechs, banks to localise payment data, caps market dominance

•Mandates beneficial ownership disclosure •Sets 25% threshold, 15% cross-market cap •Compliance deadline set for Dec. 31, 2026 By Babajide Komolafe The Central Bank of Nigeria, CBN, has directed banks, fintechs and other operators in the payments ecosystem to store all payment transaction data generated in Nigeria within the country, while also introducing measures to curb […]

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