Mandatory Integration with the Nigeria Revenue Service Transaction Monitoring System (TMS)

Central Bank of Nigeria Central Bank of Nigeria Payments System Supervision Department Payments System Supervision Department Plot 33, Abubakar Tafawa Balewa Way Plot 33, Abubakar Tafawa Balewa Way Central Business District Central Business District P.M.B 0187 Garki, Abuja-Nigeria. P.M.B 0187 Garki, Abuja-Nigeria. E-mail: pssd@cbn.gov.ng E-mail: pssd@cbn.gov.ng Website: www.cbn.gov.ng Website: www.cbn.gov.ng Phone: +234 700 225 5226, +234 800 225 5226 Phone: +234 700 225 5226, +234 800 225 5226 PSS/DIR/CON/CWO/002/010 PSS/DIR/CON/CWO/002/010 March 16, 2026 March 16, 2026 CIRCULAR TO: CIRCULAR TO: All Payment Solution Service Providers (PSSPs), All Payment Solution Service Providers (PSSPs), All Switching and Processing Companies, All Switching and Processing Companies, MANDATORY INTEGRATION WITH THE NIGERIA REVENUE SERVICE TRANSACTION MONITORING SYSTEM (TMS) MANDATORY INTEGRATION WITH THE NIGERIA REVENUE SERVICE TRANSACTION MONITORING SYSTEM (TMS) The Central Bank of Nigeria (CBN) hereby directs all licensed Payment Solution Service Providers (PSSPs) and Switches & Processing Operators to comply with the Nigeria Revenue Service (NRS) requirement for integration with the NRS Transaction Monitoring System (TMS). The Central Bank of Nigeria (CBN) hereby directs all licensed Payment Solution Service Providers (PSSPs) and Switches & Processing Operators to comply with the Nigeria Revenue Service (NRS) requirement for integration with the NRS Transaction Monitoring System (TMS). This directive is issued pursuant to Section 4(3)(b) of the Nigeria Revenue Service (Establishment) Act, 2025, Section 158(1) of the Nigeria Tax Act, 2025, and Section 56(2) of Bank Banks and Other Financial Institutions Act (BOFIA) 2020. This directive is issued pursuant to Section 4(3)(b) of the Nigeria Revenue Service (Establishment) Act, 2025, Section 158(1) of the Nigeria Tax Act, 2025, and Section 56(2) of Bank Banks and Other Financial Institutions Act (BOFIA) 2020. Accordingly, you are required to comply with the following: Accordingly, you are required to comply with the following: i. Liaise with the NRS technical team to obtain onboarding requirements and system specifications for immediate integration with the TMS. i. Liaise with the NRS technical team to obtain onboarding requirements and system specifications for immediate integration with the TMS. ii. Adhere to applicable Anti-Money Laundering, Combating the Financing of Terrorism and Counter Proliferation Financing (AML/CFT/CPF) regulations and requirements. ii. Adhere to applicable Anti-Money Laundering, Combating the Financing of Terrorism and Counter Proliferation Financing (AML/CFT/CPF) regulations and requirements. iii. Provide periodic report to CBN as may be required. iii. Provide periodic report to CBN as may be required. Please, the CBN expects full compliance accordingly. Please, the CBN expects full compliance accordingly. Thank you. Thank you. Yours faithfully, Yours faithfully, Rakiya O. Yusuf, PhD. Rakiya O. Yusuf, PhD. Director, Payments System Supervision Department Director, Payments System Supervision Department