2018-10-05 | FPR/DIR/GEN/CIR/07/013

Exposure Draft on Guidelines for Licensing and Regulation of Payment Service Banks in Nigeria

The Central Bank of Nigeria (CBN) is proposing the establishment of Payment Service Banks to promote financial inclusion and enhance access to financial services for low-income earners and unbanked populations through the use of technology. The CBN is seeking comments and observations on the draft guidelines for licensing and regulation of these banks, with a focus on increasing access to deposit products and payment/remittance services for small businesses and low-income households. The CBN will supervise the operations of these banks and has outlined requirements for capital, corporate governance, business conduct, and permissible activities.

Nigeria

Central Bank of Nigeria

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