The CBN’s e-Naira plans raise important fairness questions that could worsen financial exclusion if not adequately considered

The Central Bank of Nigeria’s (CBN) staunch opposition to cryptocurrencies was met with mixed feelings. The Securities and Exchange Commission (SEC) had announced protocols for engaging with cryptocurrencies but halted its moves in direct reaction to CBN’s decision and then announced that it would coordinate any further regulatory action in…


“If you don’t measure it, you can’t improve it” ~ Peter Drucker

Measuring the growth of mobile money is an annual tradition spearheaded by the Global System for Mobile Communications (GSMA). …


Open banking could introduce a new era of innovation and collaboration but like all innovations, execution will be the determining factor

The Central Bank of Nigeria has been on a roll. Over the last three years, the regulator has released a slew of guidelines in a bid to improve financial inclusion — the PSB guidelines and license in 2018, the regulatory sandbox framework in 2020, and most recently, the open banking…


This month’s Tracker features a call by the Executive Secretary, Nigeria Computer Society (NCS), Mr. Iyiola Ayoola, for federalizing legislative power over Communication.[1] According to him, this will ensure that the states and local governments promote quicker and more democratic spread of broadband and other critical digital economy services. It…


Photo Credit: Harriet Kariuki

The news reported the brokering of an amicable resolution of the dispute between key stakeholders in the telecommunication and banking industry on the pricing of Unstructured Supplementary Service Data (USSD) that could have severely disrupted banking services and the economy. The policy on USSD services was designed to promote “cost…


The Central Bank of Nigeria (CBN) issued the Open Banking Regulatory Framework (“the Framework”) on 17 February 2021, having observed the emerging practice and integration between banks and innovators around open Application Programming Interfaces (APIs).

Open Banking is a collaborative model allowing banking data to be shared between two unrelated…


International Women’s Day is the perfect opportunity to celebrate progress in women’s leadership, applaud advances in gender equality and recognize the sacrifices made by many unknown women and men to make our world more just and equitable. In spite of some progress which we’re thankful for, there is yet so…


Solving profitability challenges, leveraging unique resources and extending the range of permissible activities

On Monday, February 22, 2021, SIDFS hosted a webinar themed: Supporting the Payment Service Bank (PSB) Regime in Nigeria, inpartnership with Dvara Research India. …


Photo Credit: MarketnewsNG

The New BOFIA Act has generated a mixed reaction of applause, harsh criticism and apprehension by various stakeholders. The misgivings of the Nigerian Economic Summit Group (NESG), according to the Senate’s response, cannot sensibly be dismissed as being self-serving, extreme or unlearned. It is unclear if a regulatory impact assessment…


In my previous article, I wrote about consumer protection and operators’ market conduct. I’d like to revisit the theme of market conduct by presenting snippets of data from a recent empirical survey we conducted on “Regulators Perception of Financial Service Providers in the DFS Ecosystem”. In part, the survey was…

Sustainable and Inclusive DFS

We work with government, financial services regulators, donors and the private sector to drive financial inclusion in Nigeria through #research #advocacy

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