Description

The Central Bank of Nigeria offers a controlled environment for testing innovative financial products and services with real users. Cohort 2 has a virtual-assets and stablecoins track and a data-enabled financial services track. Its purpose is to generate regulatory learning while controlling risks to customers and the financial system. Applicants should arrive with a developed product, a workable test plan and safeguards. The programme does not advertise a guaranteed grant and admission is not a substitute for a permanent licence. Profile: Nigerian or foreign-regulated institutions with solutions adaptable to Nigeria; VASPs and technology startups may qualify. A startup without a financial licence can apply if the innovation is sufficiently developed for controlled live testing. Appropriate governance, risk management, consumer safeguards and AML/CFT/CPF controls. Support: Supervised testing and regulatory engagement; no guaranteed grant. Preparation, compliance and operating expenses are not advertised as funded. Application: Read the Cohort 2 call, governing framework and portal user guide linked by CBN. Select VASP or Non-VASP, register and prepare the questionnaire and supporting files. The official page announces open applications without a closing date.

Official source and verification

Official source

Central Bank of Nigeria

https://sandbox.cbn.gov.ng/

Editorial verification

Verified on October 21, 2026

Internal editorial verification.

Next revalidation: Oct 28, 2026

Trust status

Reliable95%

Latest editorial review active.

Eligibility criteria

Nigerian or foreign-regulated institutions with solutions adaptable to Nigeria; VASPs and technology startups may qualify.
A startup without a financial licence can apply if the innovation is sufficiently developed for controlled live testing.
Appropriate governance, risk management, consumer safeguards and AML/CFT/CPF controls.
Technical capacity for reporting and incident notification, within approved limits on users, transactions, exposure and duration.

Application procedure

Read the Cohort 2 call, governing framework and portal user guide linked by CBN.

Select VASP or Non-VASP, register and prepare the questionnaire and supporting files.

Submit through sandbox-portal.cbn.gov.ng and respond to assessment; approved applicants receive onboarding instructions.

Programme and activities

Funding and benefits

Supervised testing and regulatory engagement; no guaranteed grant. Preparation, compliance and operating expenses are not advertised as funded.

Timeline

The official page announces open applications without a closing date.
Test duration and timetable are set on admission; monitor CBN announcements rather than relying on an assumed deadline.

Application file

Portal form/questionnaire, corporate approvals, governance and organisation information.
Product description, architecture, testing plan, risks and consumer-protection arrangements.
Track-specific evidence, including reserves, custody, smart-contract or data controls where relevant; follow the mandatory annexes.

Selection and commitments

Assessment covers completeness, eligibility, readiness, risk controls and suitability for testing.
Admission is neither a permanent licence nor another regulator’s authorisation; plan for privacy, cybersecurity and orderly exit.

SkillReFlex tips

Link every significant risk to an operational control and a responsible team member.

Anti-fraud and caution

Use the official CBN portal. An unpublished deadline does not guarantee permanent rolling admission.

Apply to this opportunity

Apply officially View official site

CBN Regulatory Sandbox: Cohort 2