2023-06-27 | PSM/DIR/PUB/CIR/001/048

Transaction Limits on Contactless Payments

The Central Bank of Nigeria has set transaction limits for contactless payments in the country to mitigate associated risks. Transactions above 15,000 Naira and daily cumulative transactions over 50,000 Naira will require verification and authorization. Higher-value contactless payments must adhere to existing KYC requirements and limits on electronic payment channels.

Nigeria

Central Bank of Nigeria

Show thumbnail