2019-07-04 | PSM/DIR/GEN/CIR/01/011

Operation of Mobile Money Wallets by Deposit Money Banks

The Central Bank of Nigeria is encouraging financial inclusion by allowing deposit money banks to offer mobile money wallet services without prior approval. Banks are expected to notify the CBN before launching these services and must comply with existing mobile money operation regulations. This directive aims to meet the national financial inclusion target of 80% by 2020.

Nigeria

Central Bank of Nigeria

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