Frequently Asked Questions
on FinTech and Innovation Programs
Find clear, concise answers to common questions about FinTech innovation and the SEC’s incubation programs—your go-to resource for regulatory clarity

Navigating Nigeria’s FinTech landscape—from licensing to sandbox operations—can feel overwhelming. Whether you’re an entrepreneur exploring novel financial solutions or an investor seeking assurance, these FAQs break down complex processes into straightforward answers, helping you move forward with confidence.
General FinTech FAQs
This section addresses broad topics on FinTech regulation and ecosystem support, including:
- Regulatory Innovation: What it means and why the SEC champions it
- FinTech & Innovation Office (FINO): Its role, outreach channels, and engagement plans
- Roadmap Committee: Mandate, progress, and stakeholder involvement
- Licensing & Registration: How and when to approach the SEC, fee structures, and approval timelines
- Investor Protection: Balancing innovation with market integrity
Regulatory Incubation (RI) Program FAQs
Here you’ll find targeted guidance on the SEC’s year-long sandbox:
- Program Objective: Why RI exists and how it benefits innovators
- Who Qualifies: Eligibility criteria for companies and technologies
- Application Process: Steps from initial assessment to full submission
- Fees & Timelines: Costs involved and expected review durations
- Exit & Graduation: Post-incubation requirements and next steps