CBN Regulatory Sandbox Cohort 2
Posted August 13, 2026
Job Description
Objectives of the Sandbox
Through this Cohort, the CBN will:
Collaboration with innovators
- Enhance collaboration with innovators to safely introduce new technologies into the financial system.
Expanded access
- Promote solutions that expand access to digital financial services.
A secure ecosystem
- Maintain a secure, efficient, and inclusive payments and financial ecosystem.
Virtual asset testing
- Support controlled testing of virtual asset and stablecoin propositions that may involve payment use cases, fiat on/off-ramp arrangements, digital wallets, custody structures, token-based products, compliance technology, and related market infrastructure.
Evidence for policy
- Generate evidence to inform future supervisory, policy, and licensing decisions in areas where innovation is evolving faster than traditional regulatory models.
Eligibility Criteria for the CBN Regulatory Sandbox Cohort 2
Applications are open to
- CBN-licensed institutions developing innovative financial or payments-related solutions
- Institutions licensed by other financial services regulators within Nigeria, where the proposed innovation intersects with payments, digital financial services, financial data usage, or other areas within the sandbox scope
- Institutions licensed by recognised financial services regulators outside Nigeria, where the innovation is adaptable to the Nigerian market and can satisfy applicable sandbox entry requirements
- Virtual Asset Service Providers (VASPs), including entities operating in stablecoin issuance, virtual asset payments, exchange services, custody, and related infrastructure
- Startups and technology companies without existing financial licences, provided the proposed solution is innovative and sufficiently developed for controlled live testing
All Applicants Must Demonstrate:
- The solution is ready for live testing in a controlled environment
- Inherent risks have been assessed and mitigated in accordance with sandbox guidelines
- Effective AML/CFT/CPF controls
- Appropriate consumer safeguards
- The technical ability to comply with reporting and incident-notification requirements during the sandbox period
Cohort 2 Tracks
- The CBN is prioritising innovations aligned to two strategic regulatory focus areas, which together form the two tracks of Cohort 2.
VASP Track
- Virtual Asset & Stablecoin Financial Services
Non-VASP Track
- Data-Enabled Financial Services
Benefits
For innovators
- Regulatory engagement from the outset
- Access to a supervised testing environment
- Reduced uncertainty and regulatory risk
- Improved product credibility and trust
- Enhanced readiness for commercialisation
- Better understanding of compliance obligations
- Opportunity to demonstrate innovation at scale
For the ecosystem
- Increased financial inclusion
- Safer adoption of emerging technologies
- Evidence-based policy development
- Improved market integrity
- Enhanced consumer confidence
- More resilient financial infrastructure
Application Guidelines for the CBN Regulatory Sandbox Cohort 2
All interested applicants must complete their registration and submission through the CBN Regulatory Sandbox portal.
Access the Portal
- Applications are submitted through the Regulatory Sandbox portal, accessible through the CBN’s website.
Register & Upload
- Complete the online application form and upload all required documentation, including corporate approvals, governance information, product details, and any mandatory annexures.
Assessment & Approval
- Applications are assessed for completeness, eligibility, product readiness, risk management capability, and overall suitability for sandbox testing.
Onboarding
- Successful applicants are formally notified and issued the next steps for onboarding, integration, and supervised testing.