April Regulatory Round Up 2026

April 2026 Regulatory Roundup

Welcome to our April Regulatory Roundup from Regcompass. In this Regulatory Update, we bring you the very latest regulatory news and insights across Nigeria, Africa, and beyond. Beyond reporting developments, we interpret what these changes mean for regulated institutions, fintechs, and market entrants, highlighting emerging risks, compliance obligations, and strategic opportunities.

Table of Contents

Regulatory Updates in Nigeria

1. Court Halts FCCPC Lending Regulations Enforcement.
2. CBN Launches Crypto AML/CFT/CPF Supervision Pilot
3. CBN Orders Submission of Upgraded AML Systems Before Deadline
4. Flutterwave Achieves Major Milestone with Nigerian Banking Licence.
5. CBN Warns Public   Against Fraudulent Messages and Fake     Online Communications
6. CBN Tightens BVN Framework With Device Restrictions and Enhanced Fraud Controls (Effective May 1)
7. NDPC Begins Investigation Into Alleged Data Breach at CAC

Across Africa: Welcoming Innovation while addressing challenges

1. Kenya’s Central Bank Updates the List of Licensed Digital Credit Providers.
2. Cabinet Submits the Conduct of Financial Institutions (COFI) Bill to the Parliament
3. The Bank of Ghana Collaborates with SEC and FIC to Register and Licence VASPs in Ghana.

Across the world

1. U.S Regulators Assures The Bank of England on Handling Bank Failures.
2. FinCEN Proposes Rules to Reform Financial institutions’ AML/CFT Programs.
3. UK OFSI Fines Apple £390,000 in Landmark Settlement Case

Crypto Scoop

1. Pakistan Ends 2018 Ban, Allows Banks to Service Licensed Crypto Providers
2. Ripple Targets Africa Growth as Crypto Usage Jumps 52%

Deals and Raises

Merger and Acquisition

1. COURT HALTS FCCPC LENDING REGULATIONS ENFORCEMENT

The Federal Competition and Consumer Protection Commission has been temporarily restrained by a Federal High Court in Lagos from enforcing key provisions of its 2025 digital lending regulations, following a suit by Wireless Application Service Providers Association of Nigeria. The court granted an interim injunction pending a substantive hearing in 2026, which means, lenders can continue existing nano-credit products (like airtime/data loans) until the case is resolved. It should be noted that Telcos in Nigeria announced it has paused its “Xtratime” airtime-and-data loan product to comply with the new FCCPC rules. The dispute reflects a continuous overlap between consumer protection, telecom, fintech, and data privacy regulators in Nigeria. The eventual ruling could become an important precedent for how fintech regulations are structured and enforced.

2. CBN LAUNCHES CRYPTO AML/CFT/CPF SUPERVISION PILOT

The Central Bank of Nigeria has launched a supervisory pilot program for crypto and payment service providers, including Flutterwave, Paystack, cNGN, Juicyway, KoinKoin and KuCoin to assess risks . This Pilot mandates monthly metrics and reviews on customer onboarding, transaction monitoring, AML/CFT controls in virtual assets environment including the travel rule control, sanctions screening, etc from these institutions, to boost integrity without granting licenses. This effort shows regulators are targeting practical control gaps rather than announcing new headline rules. It also aligns with Nigeria’s effort to maintain credibility after exiting the Financial Action Task Force grey list.

3. CBN ORDERS SUBMISSION OF UPGRADED AML SYSTEMS BEFORE DEADLINE

Following baseline standards issued in March, the CBN now requires every bank and regulated institution to submit a detailed roadmap (using the prescribed CBN template) by 10 June 2026 for upgrading to automated AML/CFT/CPF systems. In effect, traditional manual processes must be replaced by real-time, integrated compliance engines. Firms that delay risk heavy penalties (NN10M daily) and likely regulatory scrutiny. This mandate sharply raises the bar: banks and fintechs should now be actively planning system overhauls or vendor procurements to meet the June deadline.

4. FLUTTERWAVE ACHIEVES MAJOR MILESTONE WITH NIGERIAN BANKING LICENCE

Nigerian payments unicorn Flutterwave announced it secured a CBN-approved Microfinance Banking license. This allows Flutterwave to hold customer deposits and offer banking services (accounts, payments, lending) directly, rather than routing everything through partner banks. It also signals regulator openness to new digital banks emerging from tech firms.

5. CBN WARSNS AGAINST FRAUDULENT MESSAGES AND FAKE ONLINE COMMUNICATIONS

The Central Bank of Nigeria alerted the public to a rise in fake CBN messages and phishing attempts. These communications are designed to mislead recipients and prompt unsafe actions such as clicking malicious links or sharing sensitive information. By directing the public to its official website, the Bank is reinforcing a single source of truth for verification. CBN’s stance highlights the increasing importance of user awareness as a first line of defense alongside institutional cybersecurity investments. The advisory implicitly reinforces the need for stricter digital hygiene and stronger authentication practices across Nigeria’s financial ecosystem.

6. CBN TIGHTENS BVN FRAMEWORK WITH DEVICE RESTRICTIONS AND ENHANCED FRAUD CONTROLS (EFFECTIVE MAY 1)

The Central Bank of Nigeria is recalibrating the BVN framework to address rising digital fraud vectors, particularly those linked to mobile banking access and identity compromise. Measures targeting SIM-swap and phone number changes indicate a direct response to identity takeover risks prevalent in Nigeria’s telecom-banking interface. Also, the BVN watchlist and temporary restrictions mirror elements of global AML surveillance but are adapted to Nigeria’s unique biometric identity infrastructure. Age restriction to 18 years and transaction cap on new devices shift towards preventive control. Overall, the reforms aim to strengthen trust in digital financial services by reducing vulnerabilities at the user authentication and device level.

7. NDPC BEGINS INVESTIGATION INTO ALLEGED DATA BREACH AT CAC

The Nigeria Data Protection Commission announced that it has launched an investigation into a suspected breach at the Corporate Affairs Commission. According to NDPC, the investigation is part of efforts to maintain confidence in Nigeria’s Digital Economy. This means that companies must now implement stronger cybersecurity controls and maintain audit ready documentation.

1. KENYA LICENCES 32 MORE DIGITAL LENDERS.

The Central Bank of Kenya has expanded its licensed digital credit providers to 227 after approving 32 new firms in April 2026.. The move reinforces that only licensed lenders may operate legally, with the CBK warning the public against unlicensed apps that often charge exorbitant rates and use abusive collection tactics. For pan-African fintechs, the Kenya model shows regulators’ seriousness: heavy fines and warnings await any digital lender not on the official list.

2. CABINET SUBMITS THE CONDUCT OF FINANCIAL INSTITUTIONS (COFI) BILL TO THE PARLIAMENT

South Africa is consolidating its conduct regulation through the COFI Bill, reinforcing the Twin Peaks model by centralising market conduct oversight while enabling innovation. The Bill also embeds transformation and consumer protection objectives notably through mandatory alignment with the Financial Sector Code. It introduces a more differentiated approach to licensing which aims to facilitate the entry of new players including Financial Technology (fintech) firms. The Bill aims to enhance transparency, accountability and stability in the financial sector.

3. THE BANK OF GHANA COLLABORATES WITH SEC AND FIC TO REGISTER AND LICENCE VASPS IN GHANA

Ghana’s proposed VASP licensing regime reflects a shift from crypto restriction to supervised participation. The coordinated role of the Bank of Ghana, Securities and Exchange Commission and Financial Intelligence Centre indicates a multi agency oversight model covering securities and financial crime risks. Strategically, the framework may improve Ghana’s position as a more structured digital asset market within Afric

1. U.K Bank Rescue Law Gets U.S Green Light

The Bank of England has introduced a new bail-in mechanism using provisional rights (PROPPs) allowing bondholders to receive temporary claims before final equity allocation in a bank rescue. In parallel, US regulators (SEC) issued a “no-action” letter confirming they won’t block UK banks from using PROPPs in a cross-border resolution. In short, bondholders of a failing UK bank would first receive temporary claims (not outright equity), with final allocations made after regulators calculate losses. The US assurance removes a legal roadblock: banks can now plan foreign bail-ins faster (without worrying that US investors will sue over unregistered securities). The change improves flexibility and speed in resolving failing banks while regulators determine accurate creditor pay-outs.

2. FINCEN PROPOSES OUTCOME-FOCUSED AML RULES.

The Financial Crimes Enforcement Network has proposed a major overhaul of AML/CFT rules under the Bank Secrecy Act, shifting focus from volume-based compliance to effectiveness in combating illicit finance. The key shift is banks must measure success by effectiveness at stopping crime, not by volume of reports.

FinCEN explicitly stated it is “restoring common sense” refocusing on keeping “bad actors out”. In practice. US financial Institutions expect future exams to demand proof that AML controls work in reality. Large global banks should review policies now, emphasize proactive risk targeting and continuous monitoring over rote SAR/CTR filing. This proposal (mandated by the AML Act 2020) signals a global trend: regulators everywhere will ask for demonstrable impact, not paperwork.

3. UK OFSI FINES APPLE £390,000 INLANDMARK SETTLEMENT CASE

The UK’s Office of Financial Sanctions Implementation (OFSI) fined Apple Distribution International (Ireland) £390,000 for breaching Russia sanctions. In 2022, ADI paid a Russian app developer (linked to sanctioned Sberbank) using a UK bank account. Although Apple did not intend a breach, OFSI held the subsidiary liable for screening failures. This was OFSl’s first case via its new settlement process. The lesson is even unintentional sanctions breaks (via global banks) can incur penalties. Multinational companies must ensure all subsidiaries (and their payment routes) have robust sanctions screening.

1. PAKISTAN ENDS 2018 BAN, ALLOWS BANKS TO SERVICE LICENSED CRYPTO PROVIDERS Pakistan has moved from banning crypto banking access to regulating it through licensed market participation. Banks can now serve approved crypto firms, but cannot hold, trade or invest in crypto themselves. This reduces systematic banking risk while enabling legal fiat access for millions of users. With about 40 million users, Pakistan is formalizing a previously shadow retail crypto market. If regulation is credible, Pakistan could emerge as a major emerging market crypto hub.
2. RIPPLE TARGETS AFRICA GROWTH AS CRYPTO USAGE JUMPS 52% Ripple’s recent report highlights that Sub-Saharan Africa saw >$205 billion in crypto flows in the past year, a 52% jump year-over-year. Nigeria alone ranks among the world’s top adopters. Amid this growth, Ripple is expanding payments and stablecoin services on the continent. The company points out that as more African countries clarify crypto regulations, demand for crypto remittances, payments, and tokenized assets is taking off. For African regulators and fintechs, the takeaway is clear: crypto is no longer fringe in Africa, it’s rapidly scaling for real use cases (remit/finance) and will attract further institutional investment.

1. Uber Raises Delivery Hero in $318M Deal
2. Linx Security led by global software investor Insight Partners, with continued participation from existing backers Cyberstarts and Index Ventures has raised $50m in Series B funding to tackle identity risks.
3. Depthfirst, an Al Security Lab led by Meritech Capital with participation with other Ventures and Funds has raised $80m in Series B funding round.
4. MTN Nigeria to sell a 60 percent stake in MOMO PSB and Y’ello Digital Financial Services to MTN Group, its South African parent company for 95.5 Billion Naira.

1. Competition and Authority of Kenya approves Moniepoint Acquisition of 78% stake in Sumac Microfinance Bank Limited.
2. Australian Payment Provider Cuscal Limited acquires Paymark Limited for $21 million.
3. SirMapy and Co. Decentralised Autonomous Organisation has acquired Nigeria Crypto Startup, Bread Africa in an undisclosed all Cash six figure deal.
4. Zenith Bank Pie acquires 100 percent shareholding of Paramount Bank in Kenya for an undisclosed amount.

We hope you found our April Regulatory Roundup 2026 helpful and informative. If you have questions or insights about the regulatory landscape in your region? Reach out to us on any of our social media handles, email and we would be available to help. Also share your thoughts in the comments below and let’s continue the conversation!

For a deep dive into past regulatory changes, catch up on our March Regulatory Roundup  and explore our complete Regulatory Roundup Archive for more material

Please note that the information provided in this article does not constitute legal advice and should not be construed as such. For legal advice specific to your situation, please consult a legal practitioner.