Senate passes bill to strengthen CBN regulation of fintechs

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Nigeria’s Senate has passed a bill to expand the Central Bank of Nigeria’s oversight of fintech companies and other non-bank financial institutions. The measure would allow the CBN to designate qualifying firms as Systemically Important Institutions.

By Henry Umoru ABUJA – The Senate has passed a bill seeking to strengthen the regulatory oversight of major financial technology companies and other non-bank financial institutions in Nigeria. The proposed legislation will empower the Central Bank of Nigeria (CBN) to designate qualifying financial technology operators and other non-bank institutions as Systemically Important Institutions (SIIs), […] The post Senate passes bill to strengthen CBN regulation of fintechs appeared first on Vanguard News.