2019-09-18 | PSM/DIR/GEN/CIR/02/015

Review of Process for Merchants Collections on Electronic Transactions

The Central Bank of Nigeria is reviewing the process for merchant settlements to promote financial inclusion and improve the efficiency of the country's payment system. The new policies include unbundling merchant settlement amounts and reducing the Merchant Service Charge. These directives will come into effect on September 17, 2019.

Nigeria

Central Bank of Nigeria

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