2015-03-31 | BPS/DIR/GEN/CIR/02/009

Regulatory Framework for Mobile Money Services in Nigeria

The Central Bank of Nigeria has issued a regulatory framework for mobile money services to promote financial inclusion and a robust payments system. The framework defines the roles of participants, including banks, corporate organizations, and infrastructure providers, and outlines two models for implementation: bank-led and non-bank-led. It also sets technical and business requirements, risk management strategies, and consumer protection measures to ensure safety and effectiveness.

Nigeria

Central Bank of Nigeria

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