On the occasion of the Committee's annual conference of Heads of Banks' Operations in Lagos, it was announced that the Central Bank of Nigeria (CBN) has officially extended the scope of licenses for several large FinTechs and micro-banks, now allowing them to operate legally throughout the national territory.

The decision of the Central Bank of Nigeria particularly concerns major players such as OPay, Moniepoint, Kuda Bank, Palmpay and Paga, which until now had permissions limited to certain regions. According to Yemi Solaja, Director of the Other Financial Department Institutions Supervision of the CBN, this measure aims to align the framework regulatory on the rapid growth of these businesses and on their capacity to provide financial services across the country. According to him, the update of licenses reflects the maturity and real scope of these institutions in the Nigerian digital ecosystem. This reform is the result of measures previous sanctions, including fines of 1 billion naira each inflicted in 2024 on Moniepoint and Opay for non-compliance with the rules KYC, highlighting the CBN's ongoing efforts to strengthen standards by digital finance subject.

With national licenses, these FinTechs are subject to higher capital requirements, for example 5 billion nairas for national MFIs, and must maintain offices for the resolving disputes while continuing to promote financial inclusion.