Regulatory Alerts2012-02-22 | BPS/DIR/CIR/GEN/03/001Added · Updated
Non Compliance With CBN Circular on ATM Deployment
The Central Bank of Nigeria has issued a circular expressing disappointment in the noncompliance of some Deposit Money Banks with its November 4, 2011 circular on Modalities for ATM Operations. All cards used in Nigeria must be treated equally without discriminating against any card type. This immediate-effect circular prohibits charging a fee before not-on-us transactions and threatens sanctions for noncompliant banks.
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