2015-11-06 | BPS/DIR/GEN/CIR/02/011

Circular on the Implementation of the Global Mobile Payments Monitoring & Regulation System

The Central Bank of Nigeria has implemented a monitoring solution, the Global Mobile Payments Monitoring & Regulation (GMPM) System, for better oversight of Mobile Money Operators and their transactions, aiding fraud management. All licensed mobile money operators must submit daily live transaction data to the Nigeria Inter-Bank Settlement System Plc (NIBSS) in the specified XML format by 12 noon each working day. Non-compliance by November 16, 2015, will result in a weekly sanction of N50,000.

Nigeria

Central Bank of Nigeria

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