Regulatory Alerts2015-03-31 | BPS/DIR/GEN/CIR/02/009Regulatory 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.
Tags
payments
aml
kyc
consumer
operational
risk
fintech
governance
monetary
Share