2020-12-10 | PSM/DIR/CON/CWD/14/152

New Licence Categorisation for Nigerian Payments Service Providers

The Central Bank of Nigeria has approved new license categories for the payments system to promote innovation and financial inclusion. The new framework offers clarity for market participants and streamlines licensing into four broad categories with specific permissible activities and capital requirements. Existing licensed payment companies must comply with the new requirements by the end of June 2021.

Nigeria

Central Bank of Nigeria

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