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

CENTRAL BANK OF NIGERIA Central Business District P.M.B. 0187, Garki, Abuja.

+234 - 0946238445 BANKING AND PAYMENTS SYSTEM DEPARTMENT BPS/DIR/GEN/CIR/02/011 November 4, 2015 To: All Mobile Money Operators CIRCULAR ON THE IMPLEMENTATION OF THE GLOBAL MOBILE PAYMENTS MONITORING & REGULATION SYSTEM In line with the Central Bank of Nigeria's responsibility for oversight of the National Payment System, the Bank has implemented a monitoring solution for effective surveillance of Mobile Money Operators and their transactions. The solution will also aid fraud management on mobile money platforms.

The Global Mobile Payments Monitoring & Regulation (GMPM) System was implemented by the CBN at the Nigeria Inter-Bank Settlement System Plc (NIBSS) and the system is fully operational and ready to accept and process the daily transactions data of all licensed Mobile Money Operators (MMOs).

Accordingly, all licensed mobile money operators are required to send the daily (on-us) live transactions data only (since off-us transactions would have passed through NIBSS) for onward feed into the GMPM System, as specified hereunder:

1. Provide NIBSS with daily transactions data in the XML format earlier communicated.

2. Upload of files (previous day) onto the NIBSS ftp server daily https://webserver.nibss-plc.com/thinclient not later than 12noon of the working day.

3. Provide NIBSS with the name, e-mail addresses and mobile phone numbers, of at least, two individuals who will be assigned this upload task, to enable NIBSS create login credentials for them.

Failure to comply by November 16, 2015 will attract a sanction of N50,000 per week from that day, in line with the CBN Circular on Erring banks/e-Payment Service Providers for Infractions of Payments System Rules and Regulation with reference number BPS/DIR/GEN/CIR/02/007.

Be guided accordingly.

n 'DIPO FATOKUN DIRECTOR, BANKING AND PAYMENTS SYSTEM DEPARTMENT