Nigeria embarked on its Open Banking journey in 2017, spearheaded by a coalition of industry stakeholders advocating for greater innovation and inclusion. This mirrored the United Kingdom’s pioneering efforts under GDPR and the Second Payment Services Directive (PSD2), which sought to establish Open Banking. Additionally, the UK initially used Open Banking as a regulatory tool …
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Critical stakeholders in the Nigerian open banking journey
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Which banks and fintech companies would be open banking users in Nigeria?
Although everyone is allowed, there are strict requirements around regulatory compliance, data security, and technical readiness for open banking users.
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Frequently Asked Questions about Open Banking
The OBN team answers some of the most popularly asked questions about Open Banking in Nigeria
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Authentication and authorization over “dumb” channels for open banking
In Nigeria, incorporating FAPI with feature phones and channels not driven by internet has been a big concern, but OBN now has the answer. Read all about it on our latest blog post
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