Central Bank of Nigeria launches Cohort 2 of its Regulatory Sandbox Programme, opening a dedicated application portal for financial technology startups, commercial banks, and technology firms to test innovative financial products in a controlled regulatory environment. The apex bank announced that the application window officially opened on Wednesday, August 12, 2026, and will remain active through Monday, August 31, 2026, via its dedicated portal at sandbox.cbn.gov.ng as well as the main central bank website.
How does the CBN’s dual-track Regulatory Sandbox Cohort 2 work?
The second cohort introduces a new dual-track structure specifically designed to accommodate the evolving needs of the digital financial ecosystem. The first pathway, known as the Virtual Asset Service Provider (VASP) track, caters to firms offering solutions in virtual assets, stablecoins, digital payments, settlement infrastructure, custody platforms, and wallet services requiring live, supervised testing. The second pathway, designated as the Data-Enabled Financial Services track, focuses on non-VASP innovators utilizing secure digital infrastructure and permission-based data sharing to enhance financial inclusion, credit risk management, and operational efficiency across the banking sector.
Powered in partnership with regulatory technology provider EMTECH, the sandbox provides eligible participants with direct supervisory feedback, allowing them to refine business models and ensure compliance before full commercial deployment. The Central Bank emphasized that participation within the controlled environment does not constitute an automatic operational license, but serves as a collaborative mechanism for evidence-based policy formulation while safeguarding monetary stability and consumer protection.
“The CBN Regulatory Sandbox provides a controlled environment in which eligible participants may test innovative financial products, services, business models, and enabling technologies under our supervision, supporting regulatory learning while encouraging responsible innovation.”
The commencement of Cohort 2 builds upon learnings from the inaugural sandbox intake while expanding regulatory oversight over emerging financial technologies. Industry stakeholders and fintech operators have welcomed the intake window as a crucial step toward establishing transparent, risk-based supervisory frameworks for open banking and digital assets. Will the supervised testing outcomes from Cohort 2 accelerate the formal licensing and commercial adoption of groundbreaking financial technologies across Nigeria?
