Section 35 Nigeria Startup Act

Section 35 Nigeria Startup Act 2022 is about Participation of a labelled startup in regulatory sandboxes. It is under Part VIII (Collaboration with Regulators) of the Act.

(1) A labelled startup intending to participate in the CBN’s regulatory sandbox, SEC’s regulatory incubation programmes, or any other regulatory sandbox programmes set up by other regulators, shall be entitled to submit an application through a fast-track process available through the Startup Portal.

(2) Notwithstanding subsection (1), each startup must be qualified to participate in the sandbox and their applications shall be accompanied by the documentary requirements put in place by the CBN’s regulatory sandbox and SEC’s regulatory incubation programmes guidelines.