CBN Orders Banks, Fintechs To Disclose Beneficial Owners, Localise Payment Data
The Central Bank of Nigeria (CBN) has introduced sweeping regulatory measures aimed at strengthening transparency, competition, and data security within the country’s rapidly expanding digital payments ecosystem. Under the new framework, banks, fintech companies, mobile money operators, payment service providers, and other licensed financial institutions are now required to disclose their Ultimate Beneficial Owners (UBOs)…
