2022-03-15 | COD/DIR/INT/INM/003/042

Guidelines for the Registration & Operation of Bank Neutral Cash Hubs (BNCH) in Nigeria

The Central Bank of Nigeria (CBN) has released draft guidelines for the establishment and operation of Bank Neutral Cash Hubs (BNCH) in the country. The BNCHs are intended to provide bank-neutral cash withdrawal and deposit services to high-volume/value cash transacting customers, with the aim of reducing risks and costs associated with currency management. The CBN will oversee registration and operations, with eligible promoters including Deposit Money Banks and Cash Processing Companies. The BNCHs will be subject to various regulatory requirements, including consumer protection measures and dispute resolution mechanisms.

Nigeria

Central Bank of Nigeria

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