2015-03-31 | BPS/DIR/GEN/CIR/02/010

Regulatory Framework for Licensing Super-Agents in Nigeria

The document outlines the regulatory framework for licensing Super-Agents in Nigeria, with requirements for application, minimum standards, and responsibilities. Super-Agents must be established companies, registered with the Corporate Affairs Commission, and meet financial and operational criteria. They are responsible for monitoring and supervising their agents, providing transaction data to the Central Bank of Nigeria (CBN), and adhering to branding and advertising standards. The CBN has oversight and can impose sanctions for non-compliance, including financial penalties and license revocation.

Nigeria

Central Bank of Nigeria

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