The Central Bank of Nigeria (CBN) is the country's apex monetary authority, established by the CBN Act of 1958 and officially commencing operations on July 1, 1959
Six years after Stripe, Paystack is learning to keep money
Stripe acquired Paystack for $200 million in October 2020, marking the largest acquisition of a Nigerian startup. Paystack expanded its operations to several African countries, including Côte d’Ivoire, Ghana, Kenya, Nigeria, and South Africa.
Why Airtel Money’s $7bn IPO doesn’t include its Nigerian fintech business
Airtel Money will list on the London Stock Exchange without its Nigerian fintech business, SmartCash. A Central Bank of Nigeria directive required Airtel to transfer its 25% stake in SmartCash back to Airtel Networks Limited.
Nigeria’s central bank data localisation push is about more than local servers
The CBN directed banks and fintechs to store payment data generated in Nigeria locally by January 1, 2027. Nigeria processed over ₦1.2 quadrillion ($880.51 billion) in transactions in 2025, prompting the localisation move.
How Nigeria’s overlapping data rules affect fintechs and banks
On June 15, 2026, the Central Bank of Nigeria introduced rules for local data storage by financial institutions. The Nigerian government unveiled the National Digital Cloud Policy two months later, focusing on cloud adoption and data sovereignty.
PalmPay Launches Trust Campaign as Nigerians Weigh Fintech Reliability
PalmPay launched the 'PalmPay Dey For You' campaign to enhance user trust in its services. The campaign emphasizes PalmPay's regulatory standing as a Central Bank-licensed mobile money operator.
