diff --git a/bancor_research/bancor_emulator/tests/package.json b/bancor_research/bancor_emulator/tests/package.json
index 360f7d5c..dd9cddbf 100644
--- a/bancor_research/bancor_emulator/tests/package.json
+++ b/bancor_research/bancor_emulator/tests/package.json
@@ -8,7 +8,7 @@
         "@nomiclabs/hardhat-truffle5": "2.0.6",
         "@nomiclabs/hardhat-web3": "2.0.0",
         "@openzeppelin/contracts": "4.5.0",
-        "@openzeppelin/contracts-upgradeable": "4.5.2",
+        "@openzeppelin/contracts-upgradeable": "4.9.1",
         "@uniswap/v2-core": "^1.0.1",
         "@uniswap/v2-periphery": "^1.1.0-beta.0",
         "hardhat": "2.9.6"
diff --git a/bancor_research/bancor_emulator/tests/yarn.lock b/bancor_research/bancor_emulator/tests/yarn.lock
index b70e689e..45175ba3 100644
--- a/bancor_research/bancor_emulator/tests/yarn.lock
+++ b/bancor_research/bancor_emulator/tests/yarn.lock
@@ -527,10 +527,10 @@
     ethers "^4.0.0-beta.1"
     source-map-support "^0.5.19"
 
-"@openzeppelin/contracts-upgradeable@4.5.2":
-  version "4.5.2"
-  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-4.5.2.tgz#90d9e47bacfd8693bfad0ac8a394645575528d05"
-  integrity sha512-xgWZYaPlrEOQo3cBj97Ufiuv79SPd8Brh4GcFYhPgb6WvAq4ppz8dWKL6h+jLAK01rUqMRp/TS9AdXgAeNvCLA==
+"@openzeppelin/contracts-upgradeable@4.9.1":
+  version "4.9.1"
+  resolved "https://registry.yarnpkg.com/@openzeppelin/contracts-upgradeable/-/contracts-upgradeable-4.9.1.tgz#03e33b8059ce43884995e69e4479f5a7f084b404"
+  integrity sha512-UZf5/VdaBA/0kxF7/gg+2UrC8k+fbgiUM0Qw1apAhwpBWBxULbsHw0ZRMgT53nd6N8hr53XFjhcWNeTRGIiCVw==
 
 "@openzeppelin/contracts@4.5.0":
   version "4.5.0"