Regulatory Alerts2021-08-03 | PSM/DIR/CON/INM/011/142Guidelines for Licensing and Regulation of Payments Service Holding Companies in Nigeria
The Central Bank of Nigeria issues guidelines for the licensing and regulation of Payments Service Holding Companies (PSHCs), requiring companies offering switching, processing, and mobile money services to establish a PSHC structure with clearly delineated subsidiary activities. The CBN outlines licensing requirements, permissible and non-permissible activities, and supervisory responsibilities, emphasizing the need for strict compliance with these guidelines and regulations. The PSHC structure aims to prevent commingling of activities, enhance risk management, and enable effective regulatory oversight of companies within the group.
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monetary
credit