Nigerias Fintech Giants Reeling As Apex Bank Blocks Their Ambitions

▤ Summary

Nigeria’s central bank is tightening limits on payment firms that operate across both consumer and merchant markets. The new rule caps merchant-acquiring share at 15% for firms that already control more than 25% of consumer issuing, with related entities counted together. The change directly affects major fintech players such as Moniepoint, OPay, Paystack, and Flutterwave and could force them to rethink their business mix. Operators have until December 31, 2026 to restructure, and the regulator will require monthly market-share reporting.

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