2021-05-24 | PSM/DIR/CON/INM/10/145

New License Requirements for the Payments System

The table outlines the requirements for various payment service provider licenses in Nigeria, including eligibility, capital requirements, contact information, and documentary requirements. The licenses include Switching and Processing, Mobile Money Operator, Payment Solution Services, Payment Terminal Service Provider, and Super Agent. The capital requirement for each license is N2 billion, except for the Payment Solution Services license, which is N250 million, and the Super Agent license, which is N50 million. The table also includes information on application and licensing fees, as well as license validity.

Nigeria

Central Bank of Nigeria

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