Regulatory Alerts2018-09-07 | PSM/DIR/GEN/CIR/01/003Added · Updated
Exposure Draft of Regulatory Requirements for Non-Bank Merchant Acquiring in Nigeria
The Central Bank of Nigeria (CBN) releases an exposure draft of regulatory requirements for non-bank merchant acquiring in Nigeria, inviting feedback from financial institutions. The document aims to establish non-bank acquiring as a regulated service and outlines the roles and responsibilities of participants, including acquiring banks, card schemes, and non-bank acquirers. The CBN will review and approve companies intending to provide non-bank acquiring services, and details the conditions for license termination.
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