Regulatory Alerts2018-03-14 | BPS/DIR/CIR/01/006Regulation For Bill Payments In Nigeria, 2018
The Central Bank of Nigeria (CBN) has issued regulations for bill payments in the country, aiming to promote a sound financial system and efficient payment processes. The regulations outline eligibility criteria for bill payment platforms, including the requirement to be licensed by the CBN or integrated with a licensed Payment Service Provider (PSP). The CBN also specifies the roles and responsibilities of stakeholders, such as payers, billers, and their respective banks, to ensure secure and seamless transactions.
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