2022-06-02 | PSM/DIR/PUB/CIR/01/006

Re: Circular on the Review of Operations of the NIBSS Instant Payments System and other Electronic Payment Options with Similar Features

The Central Bank of Nigeria has issued a circular to all banks and payment service providers, directing them to implement enhanced security measures for online funds transfers. Banks are now required to accept indemnity from customers for highly secured online funds transfers above specified thresholds and to provide customers with the option of electronic or paper indemnity. This directive aims to strengthen the security and integrity of electronic payment systems in the country.

Nigeria

Central Bank of Nigeria

Show thumbnail