Nigeria Data Protection Act (NDPA) 2023
Replaces NDPR 2019; NDPC (Nigeria Data Protection Commission) is supervisory authority since 2024
Nigeria Data Protection Commission
Sub-Saharan Africa · GDP rank #29
Nigeria
NG · NGN @ 0.0007290/USD
Nigeria is Africa's largest fintech market and its most turbulent — a freshly floated naira, inflation above 30%, the world's best-documented failed retail CBDC (eNaira, still in live_stalled status), and the continent's deepest private mobile-money economy (OPay, PalmPay, Moniepoint, Kuda) operating alongside the Verve domestic card scheme. NIBSS' NIP rail cleared 11.6bn transactions in 2024, more than any other African instant system; the naira has been the best-performing African currency YTD in 2026 as IMTO settlement reforms pulled informal-market flows formal.
Tab 06
Fraud & security
Headline fraud totals and typology splits, the rollout of EMV chip, tokenisation, 3DS and biometrics, and the controlling data-protection and payments statutes.
Fraud scaled with NIP volume; NIBSS Fraud Portal active since 2023 with real-time BVN-linked blocklist; NFIU (Financial Intelligence Unit) sanctioned several digital banks in 2024 for inadequate AML controls.
Reported payment fraud · 2024
84.0B NGN▲ +56% vs prior year
Card-not-present share
72%
3DS adoption on CNP
86%
Trend lines
What's growing fastest
Where a full typology breakdown is not published, the authorities typically disclose year-on-year growth in specific scam categories. Authorised push-payment (APP) scams and account-takeover fraud are the canonical “wallet era” concerns in most markets.
- Card-not-present share72%
- APP scam growth YoY+71%
- Account takeover growth YoY+48%
Controlling regulation
CBN Risk-Based Cybersecurity Framework
Updated 2024; applies to all CBN-regulated entities
Central Bank of Nigeria (CBN)