2024-02-21 | PSM/DIR?CON/CWO/048/071

Industry Dispute Resolution System - Notification of Go-Live

The Central Bank of Nigeria announces the conclusion of the pilot phase of the Industry Dispute Resolution System (IDRS), designed to enhance financial stability and consumer protection. All commercial and financial institutions are required to comply with the industry service level agreement and submit data daily to the IDRS starting March 1, 2024, to facilitate timely resolution of complaints. This system will improve the reliability of the payments system and complement the CBN's existing consumer complaint management efforts.

Nigeria

Central Bank of Nigeria

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