Nigeria’s Central Bank (CBN) has approved the launch of open banking, mandating that banks begin sharing customer data with other financial institutions starting in August 2025, according to one person with direct knowledge of the meeting. Nigeria becomes the first African country to implement open banking, four years after the Central Bank of Nigeria first released its regulatory framework for the initiative.
With the CBN’s approval, customers can now consent to allow regulated financial institutions to access their data, such as account balances, transaction histories, and spending patterns, and, in some cases, even initiate transactions on their behalf.
Read more at Techcabal
With the CBN’s approval, customers can now consent to allow regulated financial institutions to access their data, such as account balances, transaction histories, and spending patterns, and, in some cases, even initiate transactions on their behalf.
Read more at Techcabal