Jurisdiction guide
Compliance in Nigeria: what you must do, and in what order.
Regulatory infrastructure for Nigerian fintechs, digital asset businesses, and the international companies entering the market.
Regulatory map
Who regulates what in Nigeria
- Key regulators
- CBN, SEC Nigeria, NDPC, NFIU
- Central bank
- the Central Bank of Nigeria
- Securities regulator
- SEC Nigeria
- Financial intelligence unit
- the NFIU
- Data protection authority
- the NDPC
- Privacy law
- the Nigeria Data Protection Act
- Payment licence categories
- PSSP, MMO, PSB, and switching licence categories
- Digital asset framework
- SEC Nigeria's digital asset rules and the CBN's VASP account framework
Licensing
The licensing route
CBN payment and MFB licensing, SEC digital asset registration, NDPA compliance, and AML/CFT programmes that survive an NFIU review.
Why now
CBN licensing categories, AML/CFT expectations, VASP registration tracks, and NDPA enforcement have all moved in the last eighteen months.
Entering from abroad
Entering Nigeria means CBN licensing categories that have no direct equivalent abroad, NDPA registration, and AML/CFT expectations set by the NFIU.
Where to start
Fintech Compliance Health Check
See scope and price
Digital Asset Diagnostic
See scope and price
Licensing Application Sprint
See scope and price
For policy tracking and analysis of regulatory change in Nigeria, read Legum Dialogue. This guide is a practical summary, not legal advice.
Legum provides regulatory and compliance advisory services. Where a matter requires licensed legal representation, we will say so clearly before work begins.