Central Bank of Nigeria opens regulatory sandbox for virtual assets

The Central Bank of Nigeria (CBN) has launched the second cohort of its Regulatory Sandbox Programme, introducing specialized tracks for virtual assets and data-driven financial services. Applications for the program are scheduled to open on August 12, 2026, and close on August 31, 2026.

The initiative features two distinct testing tracks. The Virtual Asset Service Provider (VASP) Track is designed for supervised live testing of innovations in stablecoins, payments, settlement, custody, and digital wallets. The Data-Enabled Financial Services Track focuses on using secure digital infrastructure and permission-based data sharing to enhance financial inclusion, credit, and risk management.

Additionally, the CBN has lifted previous restrictions on access to foreign exchange and government securities at the discount window. The bank has also reinstated Tenored Repo Operations, with tenors ranging from 4 to 90 days, to improve liquidity management and monetary policy implementation. Open Market Operations (OMO) participation will be available to eligible investors, including individuals and non-bank financial institutions, through Deposit Money Banks.