2014-11-05 | BPS/DIR/GEN/CIR/01/005/B

Regulatory Framework for mobile payments services in Nigeria

The Central Bank of Nigeria has issued a regulatory framework for mobile payment services to promote financial inclusion and a robust payments system. The framework outlines two models for mobile payments: bank-led and non-bank-led, with clear definitions of participant roles and responsibilities. It also specifies technical and business requirements, including infrastructure, settlement, and risk management, to ensure safety and effectiveness in the mobile payments industry.

Nigeria

Central Bank of Nigeria

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