The Central Bank of Nigeria has released fresh guidelines regulating how digital payment companies operate in the country.
The new rules, published yesterday, aim to reduce fraud, protect customer data, and boost confidence in online transactions.

Under the guidelines, fintech companies must maintain stronger security protocols, implement real-time fraud detection systems, and submit quarterly reports to the CBN.
The apex bank also emphasized that customers must be provided with clearer transaction receipts and dispute-resolution processes.

Fintech operators said they welcomed the regulations but appealed for phased implementation to prevent smaller startups from shutting down due to high compliance costs.
Financial analysts believe the updated rules will improve Nigeria’s rapidly growing digital economy and encourage more people to adopt cashless payments.