Nigeria, Jan. 27 -- The Central Bank of Nigeria has upgraded the licences of selected financial technology companies and microfinance banks with nationwide operations, signalling a regulatory push to bring fast-growing digital lenders into closer alignment with their actual scale.

The bank's director of the CBN's Other Financial Institutions Supervision Department, Yemi Solaja disclosed the move at the annual conference of the Committee of Heads of Banks' Operations in Lagos on 23 January.

It said several firms were operating far beyond the limits of their original licences.

He said there was a growing mismatch between the licences some institutions held and the reality of their operations.

"Institutions like Moniepoint MFB, Opay, Kud...