The Central Bank of Nigeria has launched Cohort 2 of its Regulatory Sandbox Programme, offering supervised live testing through dedicated tracks for Virtual Asset Service Providers and data-enabled financial services. The first track covers innovations including virtual assets, stablecoins, payments, settlement, custody and wallets. The second supports solutions using secure digital infrastructure and permission-based data sharing to improve areas such as financial inclusion, credit, risk management and operational efficiency. Eligible applicants include regulated institutions, Virtual Asset Service Providers, financial technology and technology companies, Nigerian incorporated entities and qualifying foreign entities. The central bank will assess innovation, testing readiness, market benefits, governance, risk management, consumer protection and operational capacity. A limited number of successful applicants will test within agreed parameters covering cybersecurity, operational resilience, regulatory reporting and other safeguards. Participation does not constitute a licence or authorization to operate outside those parameters. Applications open on Aug. 12, 2026, and close on Aug. 31, 2026. Successful applicants will proceed to onboarding, a sandbox testing agreement and supervised live testing.

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