Nigeria Open Banking Regulatory Framework (CBN, 2023)
The Central Bank of Nigeria (CBN) Open Banking Regulatory Framework (2023) establishes guidelines for the sharing of customer data and services through APIs across Nigerian financial institutions. The framework addresses data sharing, API security, consumer protection, and governance for open banking participants. It categorises data into tiers (public, private, confidential, restricted) with corresponding consent and security requirements. Applicable to banks, fintechs, payment service providers, and other regulated financial institutions in Nigeria. Aligns with Nigeria's broader fintech and digital economy strategy.
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Framework Domains (6)
Consent and Data Protection
| Code | Title |
|---|---|
| NOBRF-3.1 | Customer Consent Management |
| NOBRF-3.2 | Data Breach Notification |
| NOBRF-3.3 | Consent Records Maintenance |
Data Classification and Access Tiers
| Code | Title |
|---|---|
| NOBRF-1.1 | Tier 0 - Product Information (PIST) |
| NOBRF-1.2 | Tier 1 - Merchant Information (MIT) |
| NOBRF-1.3 | Tier 2 - Personal Financial Data (PIFT) |
| NOBRF-1.4 | Tier 3 - Scoring and Analytics (PAST) |
Data Sharing Framework
API standards and data classification
Governance and Security
Governance structure and security requirements
Participant Requirements
| Code | Title |
|---|---|
| NOBRF-2.1 | API Provider Obligations |
| NOBRF-2.2 | API Consumer Requirements |
| NOBRF-2.3 | Open Banking Registry Listing |
| NOBRF-2.4 | Know Your Partner Checks |
Technical and Security Standards
| Code | Title |
|---|---|
| NOBRF-4.1 | API Security Standards |
| NOBRF-4.2 | Data Encryption Requirements |
| NOBRF-4.3 | Common Banking Industry API Standards |
Maps to 567 other frameworks
Frequently Asked Questions
What is Nigeria Open Banking Regulatory Framework (CBN, 2023)?
Nigeria Open Banking Regulatory Framework (CBN, 2023) is a compliance framework from Nigeria (CBN) with 6 domains and 14 controls. The Central Bank of Nigeria (CBN) Open Banking Regulatory Framework (2023) establishes guidelines for the sharing of customer data and services through APIs across Nigerian financial institutions. The framework addresses data sharing, API security, consumer protection, and governance for open banking participants. It categorises data into tiers (public, private, confidential, restricted) with corresponding consent and security requirements. Applicable to banks, fintechs, payment service providers, and other regulated financial institutions in Nigeria. Aligns with Nigeria's broader fintech and digital economy strategy. It is used by organisations to establish and maintain compliance with industry standards and regulatory requirements.
How many controls does Nigeria Open Banking Regulatory Framework (CBN, 2023) have?
Nigeria Open Banking Regulatory Framework (CBN, 2023) has 14 controls organised across 6 domains. The largest domains are Data Classification and Access Tiers (4 controls), Participant Requirements (4 controls), Consent and Data Protection (3 controls). Each control defines specific requirements that organisations must implement to achieve compliance.
What frameworks does Nigeria Open Banking Regulatory Framework (CBN, 2023) map to?
Nigeria Open Banking Regulatory Framework (CBN, 2023) maps to 567 other compliance frameworks. The top mapping partners are UK Telecommunications (Security) Act 2021 (43% coverage), Modern Slavery Act 2018 (Australia) (43% coverage), EU Digital Markets Act (43% coverage). Use our comparison tool to explore control-level mappings between frameworks.
How do I get started with Nigeria Open Banking Regulatory Framework (CBN, 2023) compliance?
Start your Nigeria Open Banking Regulatory Framework (CBN, 2023) compliance journey by running a self-assessment on our platform to identify your current compliance posture. Our AI advisory can answer specific questions about Nigeria Open Banking Regulatory Framework (CBN, 2023) requirements, and cross-framework mapping helps you leverage existing controls from other frameworks you may already comply with. Create a free account to access all 14 controls and track your progress.
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