2021-09-08 | PSM/DIR/PUB/CIR/01/026

Disaggregation of Bulk Payment

The Central Bank of Nigeria has issued a directive to banks and payment service providers regarding the processing of bulk payments or transfers. To enhance transparency and maintain a clear audit trail, all bulk payments must now be processed with a detailed breakdown of credit accounts, which must be retained by the sender's bank. Full compliance with this directive and all payment system regulations is mandatory.

Nigeria

Central Bank of Nigeria

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