Call For Application: CBN Cohort 2 Regulatory Sandbox Programme

The Central Bank of Nigeria (CBN) has announced the commencement of Cohort 2 of the CBN Regulatory Sandbox Programme, inviting eligible innovators, financial institutions, Virtual Asset Service Providers (VASPs), financial technology companies, and technology companies to apply to participate

Building on the CBN's commitment to responsible innovation, Cohort 2 introduces two dedicated testing tracks to support emerging technologies with the potential to strengthen Nigeria‘s financial system while upholding high standards of consumer protection, financial stability, and market integrity.

The two tracks are:

1. Virtual Asset Service Provider (VASP) Track, supporting innovative virtual asset, stablecoin, payment, settlement, custody, wallet, and related financial infrastructure solutions that require supervised live testing; and

2. Data-Enabled Financial Services (Non-VASP) Track, supporting innovations that leverage secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency, and consumer outcomes.

The CBN Regulatory Sandbox provides a controlled environment in which eligible participants may test innovative financial products, services, business models, and enabling technologies under the supervision of the Central Bank. The programme enables the CBN and innovators to engage constructively throughout the testing process, supporting regulatory learning while encouraging responsible innovation that benefits consumers and the wider financial system.

Eligible organisations whose proposed innovations fall within the programme's scope are encouraged to apply. Applications will be assessed based on the level of innovation, readiness for controlled live testing, potential consumer or market benefit, governance arrangements, risk management capability, and the suitability of the proposed testing plan.

Successful participants will undertake supervised testing within clearly defined parameters agreed with the CBN, including appropriate safeguards for consumer protection, operational resilience, cybersecurity, and regulatory reporting.

Closing date: Applications for Cohort 2 open on August 12, 2026, and close on August 31, 2026.

How to apply:

To apply, visit the CBN Regulatory Sandbox Portal here https://sandbox.cbn.gov.ng and submit your application before the application deadline.