2023-03-10 | PSM/DIR/CON/INM/019/098

Regulatory Framework for the Agent Banking in Nigeria

The Central Bank of Nigeria (CBN) has released an exposure draft of the Regulatory Framework for Agent Banking in Nigeria, inviting comments from banks, financial institutions, payment service providers, and the public. The framework aims to enhance financial inclusion by increasing access points for financial services through agent banking. The CBN will monitor FI/agent relationships and compliance with regulations, and has the power to request information, inspect premises, and direct actions or contract terminations to ensure the safety and soundness of the financial system.

Nigeria

Central Bank of Nigeria

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