Open Banking in Nigeria 2025: Delayed Launch, Consumer Benefits, and What It Means for Your Money Open Banking Nigeria 2025 has been one of the most talked-about fintech developments – but it’s also one of the most delayed. The Central Bank of Nigeria (CBN) first announced a full rollout in August 2025, making Nigeria the first African country to implement open banking. Yet, as of December 2025, the nationwide go-live hasn’t happened. Industry leaders remain optimistic, with Open Banking Nigeria (the non-profit driving standards) stating the CBN’s cautious approach prioritizes safety and consumer protection. If you’re wondering “when is open…
Author: FinTech Today
How to Apply for a Moniepoint Loan: Requirements, Eligibility, and Step-by-Step Guide Access to timely and affordable financing remains one of the biggest challenges facing small businesses in Nigeria. For many entrepreneurs, traditional banks are slow, paperwork-heavy, and often inaccessible. This gap has fueled the rise of fintech lenders like Moniepoint, which offers a business-focused credit solution tailored to active merchants and SMEs. Moniepoint has built a reputation as one of Nigeria’s most reliable fintech platforms, serving millions of businesses and agents nationwide. While it is widely known for its POS terminals and agency banking services, interest continues to grow…
CBN Unveils New Regulatory Framework to Tighten Oversight of Nigeria’s Fintech Sector The Central Bank of Nigeria (CBN) has introduced a new regulatory framework aimed at strengthening oversight of the country’s rapidly growing fintech sector. This initiative is part of the CBN’s ongoing efforts to ensure financial stability, consumer protection, and sustainable innovation in Nigeria’s digital financial ecosystem. The fintech industry, which includes digital payments, mobile banking, lending platforms, and blockchain services, has witnessed exponential growth in Nigeria. With over 200 fintech startups operating nationwide, the sector has become a critical driver of financial inclusion, digital innovation, and economic growth.…
Nigeria’s Digital Banking Transformation: Opportunities & Risks The banking landscape in Nigeria is undergoing a massive digital transformation, reshaping how consumers and businesses interact with financial services. From mobile banking and digital wallets to fintech innovations, Nigeria is embracing a new era of convenience, efficiency, and financial inclusion. While the opportunities are enormous, the shift also presents risks and challenges that banks, regulators, and consumers must navigate carefully. The Rise of Digital Banking in Nigeria Digital banking refers to the use of technology to provide financial services, eliminating or reducing the need for physical branches. In Nigeria, digital banking adoption…
How Nigerians Can Save Smarter With OPay Spend & Save Feature In today’s fast-paced digital economy, managing personal finances effectively is crucial. Recognizing this need, OPay has introduced the Spend & Save feature on its app, helping Nigerians save effortlessly while spending. This tool combines convenience, automation, and smart financial management, making it easier for users to grow their savings without changing their daily spending habits. What is the OPay Spend & Save Feature? The Spend & Save feature is a built-in savings tool within the OPay app that allows users to automatically set aside money whenever they make payments…
FirstBank, UBA, Fidelity, Union Bank, Others Struggle to Meet CBN New Recapitalization Deadline Nigeria’s banking sector is facing a critical juncture as major financial institutions, including FirstBank, United Bank for Africa (UBA), Fidelity Bank, Union Bank, and several others, reportedly struggle to meet the Central Bank of Nigeria’s (CBN) new recapitalization deadline. The development has stirred concerns over liquidity management, regulatory compliance, and the stability of Nigeria’s financial system. The CBN, in its latest directive, set a revised timeline for banks to meet increased capitalization requirements, aiming to strengthen the resilience of the sector and ensure that institutions are better…
Globacom Limited, NCC Dragged to Court Over Alleged ₦20bn Spectrum Deal Breach Nigeria’s telecommunications landscape is facing renewed scrutiny as Globacom Limited and the Nigerian Communications Commission (NCC) have been dragged to court over allegations of a ₦20 billion breach related to a spectrum deal. The case has significant implications for regulatory compliance, investor confidence, and the operational transparency of Nigeria’s telecom sector. The dispute arises from claims that Globacom allegedly failed to honour contractual obligations linked to spectrum allocation, a critical resource for mobile network operators and digital service providers in Nigeria. Background of the Dispute Spectrum allocation…