Crypto Policy Monitor

Topic: fintech-licensing

2 entries.

April 2026
Nigeria · consultation · concluded · 14 Apr 2026

SEC Nigeria proposes ₦7.5bn capital floor for Free Trade Zone entities seeking market access

A rules exposure draft set a minimum paid-up share capital of ₦7.5 billion for Free Trade Zone Entities seeking to list or offer shares on the Nigerian capital market, with a two-week comment window. FTZEs include technology, payments and blockchain infrastructure operators, so the capital floor quietly shapes which digital asset businesses can reach Nigerian public markets at all. The comment window closed in late April; the finalised rule is the thing to watch.

Nigeria · licensing · in force · 8 Apr 2026

Flutterwave gets a banking licence as CBN closes the payments-only middle ground

Flutterwave secured a national microfinance banking licence, following Paystack's January acquisition of Ladder Microfinance Bank and earlier upgrades for OPay and Moniepoint. The pattern is a policy: CBN is forcing fintechs that hold customer funds to choose between pure payment processing and full banking licensing. The ₦250m Paystack fine over Zap wallet operations showed the regulator comparing licensed activity against actual activity. Any platform whose custody practices have outgrown its licence category, in Nigeria or elsewhere in the region, should read this as its warning.