The Central Bank of Nigeria (CBN) has opened applications for the second cohort of its Regulatory Sandbox Programme, introducing dedicated tracks for virtual assets and data-enabled financial services. The second cohort will operate under two tracks: the Virtual Asset Service Provider (VASP) Track and the Data-Enabled Financial Services Track. The Data-Enabled Financial Services Track, which excludes VASPs, will focus on innovations using secure digital infrastructure and permission-based data sharing to improve financial inclusion, payments, credit, risk management, operational efficiency and consumer outcomes. He said the introduction of separate tracks for virtual asset providers and data-enabled financial services reflected the changing nature of financial innovation. Eligible organisations seeking to participate are required to submit their applications through the CBN Regulatory Sandbox Portal before the August 31 deadline.