Project XBY

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 08

Pulse

The preceding ~90 days of macro, regulation, product, funding and milestone events. Each item is primary-sourced; no trade-press echo.

  1. 6 days agoregulation

    CBN MPC convenes 305th meeting amid easing inflation and stable naira

    CBN Governor held the 305th Monetary Policy Committee briefing on 20 May 2026. Recent CBN consumer-expectations survey points to steady naira and easing interest rates through 2026; first MPC under conditions where lira-style intervention is not the dominant policy variable.

    • #cbn
    • #macro
    • #policy-rate

    Source: Central Bank of Nigeria (CBN)

  2. 4 weeks agodata

    Naira hits N1,390/$ in parallel market — best-performing Africa YTD

    As of 28 April 2026, the naira appreciated 6.7% against the dollar year-to-date — the best-performing African currency — while trading N1,383/$ at the official NFEM window. IMTO settlement reforms and NFEM-window deepening pulled informal-market flows formal.

    • #fx
    • #naira
    • #cbn

    Source: Legit.ng / CBN

  3. 7 weeks agoregulation

    CBN orders acquirers to dual-connect to NIBSS and UPSL within 30 days

    Director of Payments System Supervision Rakiya Yusuf mandated acquirers, processors and PTSPs enable active connections to both NIBSS and Unified Payment Services Ltd within one month to eliminate service-interruption risk. First explicit regulator acknowledgement of the systemic rail-redundancy question.

    • #nibss
    • #upsl
    • #cbn
    • #infrastructure

    Source: Central Bank of Nigeria (CBN)

  4. 2 months agoregulation

    CBN signals careful management of naira rise; FX-window depth grows

    CBN published guidance on managing the naira's rise carefully reflecting demand for the unit at the NFEM window and remittance-inflow momentum post-IMTO settlement-account reforms. The decision signals appreciation will be managed rather than uncapped.

    • #fx
    • #cbn
    • #naira

    Source: P.M. News Nigeria

  5. 3 months agoregulation

    CBN releases AML/CFT/CPF baseline standards for automated solutions

    CBN published comprehensive baseline standards for automated AML, CFT and CPF technology stacks across CBN-regulated entities, raising the floor for sanctions screening and transaction-monitoring vendor capability. RegTech procurement window opens.

    • #aml
    • #cbn
    • #compliance

    Source: Central Bank of Nigeria (CBN)

  6. 3 months agoregulation

    CBN reminds IMTOs to use designated naira settlement accounts

    Central Bank of Nigeria reminded International Money Transfer Operators of the requirement to open naira settlement accounts with Authorised Dealer Banks; all remittance-related transactions must process through these accounts. Move tightened the formal-channel rail and contributed to the YTD naira appreciation.

    • #remittance
    • #imto
    • #cbn

    Source: Central Bank of Nigeria (CBN)