INTRODUCTION
On 13
th January 2021, the Central Bank of Nigeria
(CBN) released two regulations: the Framework for Regulatory
Sandbox Operations ( Sandbox Framework ) and the
Framework for Quick Response (QR) Code Payments in Nigeria
( QR Code Framework ).
The CBN stated that the frameworks are aimed at strengthening
the payment systems space and the development of other disruptive
technologies relating to financial services in Nigeria.
We will briefly consider the frameworks and their potential
impact for the financial technology (fintech) industry in
Nigeria.
The Sandbox Framework
Owing to the growing interest in fintech), the CBN deemed it
necessary to set up a regulatory sandbox, a closed testing