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CBN Opens Applications For Second Cohort Of Regulatory Sandbox Programme

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The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing dedicated tracks for virtual asset service providers and data-enabled financial services.

Applications for the programme will open on Wednesday, August 12, 2026, and close on August 31, 2026, as the apex bank seeks to strengthen responsible innovation while maintaining the stability and integrity of the financial system.

In a statement signed by the Acting Director, Corporate Communications and Investor Relations Department, Mrs Hakama Sidi Ali, the CBN said the second cohort would operate under two tracks: the Virtual Asset Service Provider (VASP) Track and the Data-Enabled Financial Services Track.

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The VASP Track is designed to support innovative solutions involving virtual assets, stablecoins, payments, settlement, custody, wallets and related financial infrastructure that require supervised live testing.

READ ALSO: CBN Monetary Tightening Worsening Nigeria’s N50tn Development Finance Gap – Group

The Data-Enabled Financial Services Track, which excludes VASPs, will focus on innovations leveraging secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency and consumer outcomes.

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The CBN said its Regulatory Sandbox provides a controlled environment where eligible participants can test innovative financial products, services, business models and enabling technologies under the bank’s supervision.

According to the apex bank, the initiative allows innovators and regulators to engage during testing, promotes regulatory learning and encourages the development of solutions that can benefit consumers and the broader financial system.

The launch of the second cohort, it said, underscores its commitment to a transparent, proportionate and risk-based regulatory framework that supports innovation without compromising monetary and financial stability.

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READ ALSO: CBN Retains Interest Rate At 26.50% For Second Consecutive Time

The bank added that lessons from supervised testing would improve its understanding of emerging technologies and contribute to the development of regulatory and supervisory frameworks for Nigeria’s evolving digital financial ecosystem.

Commenting on the programme, the Director of the Payments System Policy Department, CBN, Mr Musa Jimoh, said financial innovation was rapidly transforming how individuals and businesses access and use financial services.

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Jimoh said the CBN Regulatory Sandbox, powered by technology in partnership with EMTECH, provides a structured platform for innovators and regulators to test promising solutions while maintaining safeguards for consumers and the financial system.

He said the introduction of dedicated VASP and data-enabled financial services tracks reflected the changing nature of financial innovation and the CBN’s determination to promote responsible and transparent innovation aligned with the long-term development of the financial system.

READ ALSO: CBN Raises Alarm On Fake Emails, Links Used To Hack Bank Accounts

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The CBN said applications would be evaluated based on factors including the level of innovation, readiness for controlled live testing, potential consumer and market benefits, governance arrangements, risk management capacity and the suitability of proposed testing plans.

Successful applicants will conduct supervised testing within parameters agreed with the CBN, with safeguards covering consumer protection, operational resilience, cybersecurity and regulatory reporting.

The apex bank, however, stressed that participation in the Sandbox does not constitute a licence, authorisation or approval to operate outside the approved testing parameters.

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It urged eligible organisations to submit their applications through the CBN Regulatory Sandbox Portal before the August 31 deadline.

The CBN said the programme would support responsible experimentation, deepen regulatory engagement and promote evidence-based policymaking as it works to build an innovative, resilient and inclusive financial ecosystem while preserving the safety and soundness of Nigeria’s financial system.

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Six Corps Members Receive N10m Grants To Boost Agribusiness

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Six members of the National Youth Service Corps (NYSC) have received a total of N10 million in grants to expand their agribusiness ventures under the Farmers for the Future Programme.

The programme was organised on Monday by the British American Tobacco Nigeria Foundation (BATNF) in collaboration with the NYSC to encourage young Nigerians to embrace agriculture and develop sustainable businesses.

Presenting the cheques to the beneficiaries in Abuja, the NYSC Director-General, Brigadier General Olakunle Nafiu, urged Corps members to maximise the opportunities provided by the service year by venturing into commodity marketing and other viable businesses.

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Nafiu said agribusiness remained a viable avenue for young people to build sustainable enterprises, create employment and generate wealth.

READ ALSO: NYSC Swears In 1,600 Corps Members In Bauchi

He also stressed the importance of value addition to the success and sustainability of business ventures, while commending BATNF for placing Nigerian youths at the centre of its entrepreneurship initiatives through value-chain development, employment creation and its partnership with the NYSC.

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“I charge you to spread the news around. We have seen the outcome, and it is a good idea,” he said.

The beneficiaries are Dominic Olufemi (FC/25C/1143), who received N3 million; Temitope Adewole (ED/26A/2251), N2 million; Abdulwaheed Bala (ED/25B/1402), N2 million; Olanike Mayungbe (OG/26B/1037), N1 million; Kingsley Udoeyen (KG/26A/1735), N1 million; and Lorember Lorsue (JG/25B/1742), N1 million.

Speaking on the selection process, the Acting Director, Skills Acquisition and Entrepreneurship Development (SAED), Mrs Winifred Shopeka, said the programme began with an online registration portal through which Corps Members engaged in agribusiness submitted their business plans.

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READ ALSO: NCCSALW Deploys NYSC Members In Fight Against Illegal Arms In Northeast

She said nearly 3,000 Corps members applied and underwent a rigorous selection process that produced 20 finalists.

According to her, the finalists participated in a boot camp and a final pitching session, which produced the 10 best presenters before the six ultimate winners were selected.

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Shopeka said the beneficiaries had also been mentored and attached to established market operators to assist them in marketing their products.

She added that Corps Members who did not make the final stage of the competition were also trained by BATNF.

The BATNF Team Lead, Mr Oludare Odusanya, congratulated the beneficiaries and urged Corps Members engaged in agribusiness to master the fundamentals and acquire the knowledge and skills necessary to succeed.

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“We are happy with our collaboration with the NYSC, and it will continue,” he said.

READ ALSO: NYSC Lauds Gov. Mohammed’s Intervention In Fence Collapse

Odusanya explained that BATNF was an independent organisation established to contribute to poverty reduction in Nigeria through sustainable agricultural practices and other interventions.

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He said the Farmers for the Future Programme was instituted in collaboration with the NYSC to encourage Corps Members to venture into agribusiness and become job creators.

He added that the beneficiaries would be attached to mentors who would guide them towards achieving success in their respective businesses.

According to him, the programme has, since its inception, continued to enhance the entrepreneurial capacity of Corps Members.

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CBN Reduces Interest Rate To 23%

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The Central Bank of Nigeria (CBN) on Tuesday announced the reduction of the interest rate, also known as Monetary Policy Rate (MPR) to 23 percent.

Briefing the media in Abuja, the Governor of the CBN, Mr. Olayemi Cardoso, said at the 307th MPC meeting held on September 22, 2026 agreed the resetting of the MPR and recaliberation of the monetary policy market.

According to Cardoso, the committe is satisfied with the disinflation progress, adding that members noted stable banking sector following successful recapitalisation.

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READ ALSO: CBN Monetary Tightening Worsening Nigeria’s N50tn Development Finance Gap – Group

Meanwhile, according to Nigerian Tribune, reports that that the MPC, at its 306th meeting in July 2026, disclosed its resolution to retain the interets at 26.5 percent.

According to the Governor of the CBN, Olayemi Cardoso, “the Committee’s decision to maintain the current policy stance followed a thorough assessment of the balance of risks. Although headline inflation moderated marginally in June 2026, global uncertainties have heightened, due mainly to the renewed hostilities in the Middle East.

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“In view of the evolving developments, maintaining a cautious monetary policy stance remains appropriate. In arriving at its decision, the Committee noted the recent resurgence of hostilities in the Middle East, with particular attention to its spillover effects on global energy prices and the potential pass-through to domestic inflation.”

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NURTW: KWAM1 Settles Long-time Rift Between MC Oluomo, Tafa Sego

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Nigerian Fuji musician, Wasiu Ayinde Marshal, popularly known as KWAM1, has brokered a peace deal between the National Union of Road Transport Workers (NURTW) National President, Musiliu Akinsanya, popularly known as MC Oluomo, and the Lagos State Chairman of the union, Mustapha Adekunle, aka Tafa Sego.

The reconciliation took place at Ojusagbola in Ijebu, Ogun State, where several NURTW chieftains gathered for the meeting.

The development was announced on Tuesday on KWAM1’s digital media page on Instagram, alongside photographs from the meeting.

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According to the post, the two union leaders have resolved their differences after years of strained relations.

READ ALSO: Why FG Named KWAM 1 Aviation Security Ambassador — Keyamo

After years of an age-long rift, MC Oluomo and Tafa Sego have finally settled their differences. And from what we know now, this is final,” the post said.

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The musician was said to have intervened as the Mayegun of Yorubaland, with the aim of bringing an end to the longstanding disagreement between the two NURTW figures.

“K1 acted in his role as the Mayegun of Yorubaland by seeking an end to the long-standing rift, once and for all,” it said.

The post also described the meeting as a significant step beyond previous public displays of reconciliation.

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READ ALSO: FG Gives KWAM 1 Aviation Appointment, After Airport Incident

This time, it was not just another handshake for the cameras. The two old friends and colleagues came together at Ojusagbola, with King Wasiu Ayinde Marshal (K1) playing the peacemaker.”

Both MC Oluomo and Tafa Sego were reported to be pleased with the outcome of the intervention.

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“Both parties are delighted about the new development,” the post said.

The two men had previously been allies and prominent figures within the Lagos NURTW before their relationship became strained amid disagreements linked to leadership of the union in the state.

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