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BREAKING NEWS: CBN Launches Crypto & Fintech Supervision Pilot

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The Central Bank of Nigeria (CBN) has commenced a pilot supervision programme targeting Virtual Asset Service Providers (VASPs), as part of efforts to strengthen Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Financing (AML/CFT/CPF) oversight within Nigeria’s financial system.Nigeria economic insights

The initiative forms part of the CBN’s risk-based supervisory framework and aims to deepen its understanding of the operational models, risk exposures, and compliance structures of virtual asset operators.

The pilot also seeks to enhance market integrity and financial system stability amid the growing relevance of digital asset transactions

Flutterwave, Paystack, KuCoin & others are now under the CBN’s AML/CFT pilot programme, which covers governance, transaction monitoring, sanctions screening & FATF compliance.See more, details. .

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