2015-09-14 | BPS/DIR/GEN/CIR/02/009

Exposure Draft on the Standards and Guidelines on Electronic Channels Operations in Nigeria

The Central Bank of Nigeria (CBN) releases draft guidelines for the transaction switching framework in Nigeria, inviting feedback from banks, mobile money operators, and payment service providers. The guidelines outline the rights and responsibilities of switching companies, member institutions, and the Nigeria Central Switch, including technical requirements, security protocols, and operational rules. The Nigeria Central Switch aims to facilitate interconnectivity and interoperability among electronic funds transfer initiatives, banks, and payment service providers, providing a centralized mechanism for transaction processing and settlement.

Nigeria

Central Bank of Nigeria

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