July 2026 Regulatory Roundup

July 2026 Regulatory Roundup

The month of July invited several regulatory advancements, enforcements and initiatives directed to companies within the regulatory landscape. Let’s have a comprehensive look at these developments across Nigeria, Africa and worldwide.

Nigeria

1. CAC notifies Public of Intention to strike-off 100,000 Companies from Register
2. CAC mandates strict compliance with Sections 304(1) (2) & 709(C) of CAMA 2020
3. CBN Clarifies FX Access Framework for Bureau De Change Operators
4. SEC announces Electronic Registrations on its E-Portal for Capital Market Operators
5. SEC admits a total of Nine VASPS Into Its Accelerated Regulatory Incubation Programme
6. The NITDA Launches Sandbox Technical Working Group towards Encouraging Collaborative Regulatory Efforts for Digital Innovation
7. The NITDA Inaugurates Multi- Stakeholder Coordination Group to Support Digital Governance in the Country
8. FCCPC Resumes Full Implementation of the Provisions of the DEON Regulations
9. FCCPC directed to investigate Big Techs Over Alleged Infringement Against Nigerian Media Organisations
10. Senate Advances Bill to Require Global Social Media Platforms to Establish Offices in Nigeria

Africa

1. Kenya Consults Public Comments on AI Policy
2. Zimbabwe to Begin Data Protection Compliance Inspections

Global

1. Wolfsberg Publishes New Guidance on Banking Services to Non Bank PSPs
2. BSP, Philippines, issues AI Governance Principles for BSFIs

Mergers & Acquisitions

1. Iberdrola Agrees to Acquire 80% Stake in Caruna for €2 Billion Euros
2. Tempus AI Inc Set to Acquire Personalis, Inc at an Enterprise Value of $1.5 Billion

Crypto Scoop

Deals and Raises

1. CAC notifies Public of Intention to strike-off 100,000 Companies from Register

The Corporate Affairs Commission on 15 July 2026 released a notice to the general public, particularly registered companies, of its intention to commence another round of striking off names of companies found defiant in filing their annual returns and regularising their records with the Commission from the Register. This is in line with their powers as contained in section 692 (3)&(4) of the Companies and Allied Matters Act (CAMA) 2020.  The number of non-compliant companies identified this time was One Hundred Thousand. Access the list here. Consequently, affected companies were advised to file all annual returns, persons of significant control/beneficial ownership information and regularise their records with the Commission within 90 days of the notice, being 13 October 2026, otherwise, their names will be struck off the Register without further notice. This reflects that non-compliance with filing annual returns and other regulatory filing obligations can potentially make a company lose its legal status.

2. CAC mandates strict compliance with Sections 304(1) (2) & 709(C) of CAMA 2020

The Corporate Affairs Commission on 08 July 2026 issued a notice announcing its intention to enforce full application of the requirements of Section 304(1)(2) and Section 729[1](c) of the Companies and Allied Matters Act [CAMA] 2020 with respect to business letters. To this end, every registered company shall in all its business letters state its name,  registration number and registered address, and in all these business letters in which its name appear, shall state clearly and legibly, the present name [fore-name (or initials) and surname], former name [when applicable] and nationality (if not Nigerian) of every director of the company. Accordingly, non-compliance will be faced with attendant sanctions.

3. CBN Clarifies FX Access Framework for Bureau De Change Operators The Central Bank of Nigeria on 15 July 2026 issued guidance that provides a clearer and more structured process for licensed Bureau De Change (BDC) operators to purchase foreign exchange (FX) from Authorised Dealer Banks (ADBs) through the Nigerian Foreign Exchange Market (NFEM). The guidance sets out the approved route for BDCs to access FX and requires these transactions to be carried out through ADBs while meeting CBN requirements on documentation, reporting, and transparency. This development improves clarity on how BDCs can source FX from the official market and strengthens the CBN’s monitoring of BDC activities. For businesses and market participants, the guidance means that BDC FX transactions will increasingly be conducted through regulated channels, with greater focus on compliance and proper record-keeping.

4. SEC announces Electronic Registrations on its E-Portal for Capital Market Operators

To improve regulatory efficiency and support innovation, the Securities and Exchange Commission [‘SEC’] has announced on 29 July 2026 that it will commence full electronic registrations [e-registration] on its e-portal for all applications such as appointment of director, Removal/Resignation of Director, Opening of Branch Office, Letter of Good Standing, Change of Name, Change of Address and other related matters by all capital market operators starting Monday, 10 August 2026.

5. SEC admits a total of Nine VASPS Into Its Accelerated Regulatory Incubation Programme [ARIP]

On 2 July 2026 and 3 July 2026, the Securities and Exchange Commission [‘SEC’] admitted a total number of nine Virtual Assets Service Providers into its Accelerated Regulatory Incubation Programme [ARIP] which creates an access and avenue for these entities to test their products within the regulatory sandbox and under close regulatory supervision before launching them to the public. This admission indicates that SEC would be issuing an Approval-In-Principle to these cleared entities; while it does not signify or indicate licensing, it demonstrates that the Commission is taking efforts towards ensuring a more efficient and less regulatory stifled  means of approving and accepting digital assets service providers including Virtual assets service providers [VASPs]; where innovation is encouraged, investors are protected and the integrity of the capital market is safeguarded through the ARIP.

6. The NITDA Launches Sandbox Technical Working Group [TWG] towards Encouraging Collaborative Regulatory Efforts for Digital Innovation

With the pace of digital innovation, newer and more efficient approaches must be adopted by regulators so as not to stifle innovation while ensuring necessary compliance from concerned institutions. It is because of this reason that the Director of the Nigeria Information Technology Development Agency [NITDA] introduced the Sandbox Technical Working Group [TWG] which is a cross-agency framework, where regulators can come together and discover practical solutions towards encouraging innovation and maintaining effective oversight. This strategy involves a sandbox where innovators can test emerging technologies and solutions under the supervision and guidance of relevant regulatory authorities.

7. The NITDA Inaugurates Multi- Stakeholder Coordination Group to Support Digital Governance in the Country

The Nigeria Information Technology Development Agency [NITDA], recognising the global recognition that has followed the country’s digital governance, acknowledged that such recognition vests more responsibility on the country to sustain the progress. To this end, the Agency inaugurated a multi-stakeholder coordination group, a more inclusive group that will hold institutions accountable and support other frameworks already in place to ensure sustained digital transformation and governance in the country. Additionally, these stakeholders are urged to ensure that underserved communities, persons with disabilities, children and the elderly are not neglected in Nigeria’s digital transformation drive.

8. FCCPC Resumes Full Implementation of the Provisions of the DEON Regulations

Following the Court’s ruling on 20 July 2026 regarding the suit filed by the Wireless Application Service Providers Association of Nigeria [WASPAN] against the Federal Competition and Consumers Protection Commission [FCCPC] challenging the Commission’s authority to issue and implement the provisions of the Digital, Electronic, Online and Non-Traditional  Regulations [DEON Regulations] which prescribe responsible lending supervisory requirements and consumer protection in the digital lending market, the FCCPC may now fully commence the implementation of the DEON Regulations. The court held that it is fully within the Commission’s statutory and regulatory powers to enforce the provisions of the Regulations and dismissed the plantain’s claims in all its entirety.

9. FCCPC directed to investigate Big Techs Over Alleged Infringement Against Nigerian Media Organisations

This is following a joint petition submitted to the presidency by the Nigerian Press Organisation [NPO] claiming that Big technology companies have been involved in anti-competitive practices, unlawful exploitation of news content,and other potentially unfair market conduct. Also, Generative Artificial Intelligence [AI] platforms fall under the radar of investigation. While this effort is not directed at these entities with presumptions of wrong doing, rather, it is to conduct a careful inquiry of their operations and assess them as to whether they result in unfair business practices, i.e., whether their practices constitute a breach of the Federal Competition and Consumers Protection Act  (FCCPC Act) 2018. This move demonstrates efforts of the federal government and the FCCPC towards promoting media advocacy and protecting the interests of fair and trustworthy digital contents furthering the development of the democratic system.

10. Senate Advances Bill to Require Global Social Media Platforms to Establish Offices in Nigeria

Nigeria’s Senate has advanced a bill aiming to amend the Nigeria Data Protection Act, 2023 by requiring global social media platforms operating in Nigeria, like Facebook, Instagram, Tiktok, to establish and open local offices in the country. This initiative is aimed towards ensuring that these platforms are held accountable, promote transparency and enable easier regulatory enforcement reach for Nigerian regulators over these platforms. This bill is not yet  law; however, it signals the government’s direction for digital regulation. The push for a local presence reflects the government’s objective to ensure that companies with such a massive Nigerian user base are brought under direct supervision of regulatory authorities.

1. Kenya Consults Public Comments on AI Policy

As part of Kenya’s National Digital Strategy [2025 – 2030], the Country has released its Artificial Intelligence [AI] draft Policy, and to promote inclusion, has invited public comments on the development, adoption, deployment and governance of AI among other emerging technologies on or before 04 August 2026. Kenya has spent the last few years laying the groundwork for AI governance and pursuing AI regulation on multiple fonts, and this consultation is the closest and biggest step towards making this aim a reality. The AI Policy, if adopted, will shape how AI is used in Kenya for years to come, influencing everything from how startups build AI products, to how governments respond to intelligence systems and how citizens’ data is protected.

2. Zimbabwe to Begin Data Protection Compliance Inspections

Starting 01 September 2026, the country through the Postal and Telecommunications Regulatory Authority of Zimbabwe (POTRAZ) will begin compulsory inspections of organisations collecting and processing personal data within the country with the aim to ensure that they are properly compliant with the provisions of the country’s Cybersecurity and Data Protection Act. The inspection will examine whether these businesses are compliant with data protection rules , cyber security measures, data governance , including whether they are licensed as data controllers. This inspection will take a risk-based approach, starting with sectors that hold large amounts of sensitive data. This initiative becomes relevant and crucial because it holds organisations holding personal information of data subjects accountable in order to ensure these sensitive data are not exploited for unlawful purposes that could further endanger data subjects’ well-being.

1. Wolfsberg Publishes New Guidance on Banking Services to Non Bank PSPs

To expand on its existing framework, the Wolfsberg group has introduced new guidance on the provision of banking services to non-bank Payment Service Providers [PSPs] which details and addresses common relationship types, associated risks, compliance obligations and risk management expectations for financial institutions providing these banking services to non-bank PSPs. This guidance provides a practical framework that will help banks to navigate the financial risks associated with providing their banking services to non-bank institutions while continuously promoting innovation.

2. BSP, Philippines, issues AI Governance Principles for BSFIs

With Artificial Intelligence [AI] becoming a major participant in digital innovation and in the financial system, Bangko Sentral ng Pilipinas [BSP] which is the Central Bank of the Philippines has issued governance principles for Artificial Intelligence [AI] use by the BSP-Supervised Financial Institutions [BSFIs].  The governance principles are sustainability, transparency, accountability, responsibility, and security (STARS). This guidance aims towards protecting consumers and preserving trust in the financial system. Hence, regulated financial institutions are urged to implement the guidance proportionately to the nature, extent, scale, complexity, and materiality of their AI systems while also taking into consideration the BSFI’s overall operational complexity and risk profile. Although, non-binding, these principles demonstrate minimum supervisory expectations for AI adoption in the Philippines.

1. Iberdrola Agrees to Acquire 80% Stake in Caruna for €2 Billion Euros

Ibredola, a massive Spanish electric utility company makes a major move into Finland with a recent agreement reached to acquire 80% of Finland’s largest electricity distribution company. The acquisition is expected to complete during the first quarter of 2027, subject to regulatory approvals.

2. Tempus AI Inc Set to Acquire Personalis, Inc at an Enterprise Value of $1.5 Billion

On 20 July 2026,  Tempus AI, Inc. (NASDAQ: TEM), a technology company leading the adoption of AI to advance precision medicine and patient care, announced a definitive agreement to acquire Personalis, Inc. The acquisition will expand Tempus capabilities in minimal residual disease (MRD) and enhance its ability to support patients from diagnosis and treatment selection, to recurrence and monitoring.

We hope you found our July 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 June 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.