Goldsmiths Solicitors – Legal Recap for the Year 2025

Banking and Finance Law, Business Advisory, Business, Entrepreneurs, Business, Sales, Capital Markets, Corporate & Commercial, Financial Services, Financial Technology (FinTech), Innovation and Technology, Intellectual Property, Public Sector, Startups and MSME Law, Telecommunications

2025 was a very exciting year and saw significant changes in Nigeria’s legal and regulatory landscape. Series of laws were enacted by the National Assembly and regulatory guidelines were also issued by regulators including the Central Bank of Nigeria, Federal Competition and Consumer Protection Commission, the Nigerian Communications Commission, etc. There were also some important judicial decisions from the courts in Nigeria which shaped the legal and regulatory space in the country. This recap is divided into four parts representing the four quarters of the year, highlighting what we think are the most impactful laws and regulations, reforms, and judicial decisions in 2025.

Nigeria Officially Launches Open Banking Framework

Nigeria Officially Launches Open Banking Framework

Updates

The formal operationalization of the Open Banking framework marks a significant milestone in Nigeria’s financial sector, positioning the country as a leader in Africa for adopting this collaborative system. Driven by the Central Bank of Nigeria (CBN), the framework establishes the foundational rules and technical standards for secure, consent-based sharing of customer financial data and services through standardized Application Programming Interfaces (APIs).