The Central Bank of Nigeria (CBN) recently took deliberate actions to deepen its impact and spur economic growth. The CBN, under Mr. Olayemi Cardoso, has introduced innovative policies to deepen the monetary policy ecosystem.
The CBN, in August 2026, launched the Cohort 2 of its Regulatory Sandbox Programme to foster innovation and growth in the financial sector.
The new cohort introduces two distinct testing tracks to manage emerging technologies:
Virtual Asset Service Provider (VASP) Track: Focuses on virtual assets, stablecoins, payments, settlement, custody, wallets, and related financial infrastructure requiring live testing.
Data-Enabled Financial Services (Non-VASP) Track: Targets innovations using secure digital infrastructure and permission-based data sharing to advance financial inclusion, credit, and risk management
The CBN has also been actively engaging with the public through its Consumer Education Series, explaining financial concepts like the Nigerian Overnight Financing Rate (NOFR). NOFR reflects the cost at which banks lend to one another overnight, providing a reliable measure of short-term interest rates in Nigeria’s financial system.
The CBN has also been promoting financial inclusion through its bespoke programme, the CBN Fair. The recent ones were held in Lokoja, Kogi State, and Lafia, Nasarawa State, where the apex bank explored innovative payment solutions driving financial inclusion, growth, and accelerated economic development.
