Nigeria, April 1 -- The Central Bank of Nigeria (CBN) has commenced a pilot programme to strengthen oversight of virtual asset activities, targeting selected Virtual Asset Service Providers (VASPs) as part of its broader financial system integrity efforts.

The CBN disclosed the programme in a statement on Tuesday, noting that the initial group of companies selected for the pilot includes Flutterwave, Paystack, KuCoin, KoinKoin, Juicyway, and cNGN.

The bank noted that the programme has been structured in multiple phases, with subsequent phases already fully scheduled and not open to new participants.

The initiative focuses on enhancing compliance with Anti-Money Laundering, Counter-Financing of Terrorism, and Counter-Proliferation Finan...