The CBN’s decision is essentially a fire‑wall: banks will have to keep their core deposit books separate from any fintech subsidiaries, so the money you put in a traditional account can’t be used to fund a start‑up’s product development or investment activities. In practice this means you’ll still be able to use the same apps and payment‑link services you’re used to, but the underlying infrastructure will be split – the bank will handle the custodial side while the fintech focuses on the user‑experience layer. Smaller fintechs may lose the convenience of a direct banking licence, so they’ll need to partner with licensed banks or operate under a “bank‑as‑a‑service” model, which could add a layer of compliance cost but also brings more oversight. For customers, the main upside is greater protection of deposits; the risk of a fintech failure draining your savings is reduced, even if you might see a slight slowdown in new feature roll‑outs. Overall, the move signals that the previous blended arrangements were seen as a regulatory gap rather than an imminent danger, and the new structure aims to keep innovation alive while tightening the safety net around ordinary Nigerians’ money.