Rule · CBN · 20 Apr 2017 · BPS/DIR/GEN/CIR/04/003

Re: Circular on the Implementation of Interchange Fee

The Central Bank of Nigeria (CBN) announces the suspension of the implementation of the Interchange Regime, which was set to replace the Merchant Service Charge by May 1, 2017. This decision is made as per a previous communication in the CBN Circular dated November 1, 2016 (BPS/DIR/GEN/CIR/03/004). The suspension of this implementation remains effective until further notice.

NigeriaCentral Bank of Nigeria

BANKING AND PAYMENTS SYSTEM DEPARTMENT
CENTRAL BANK OF NIGERIA
Central Business District P.M.B. 0187, Garki, Abuja.

+234 - 0946238445 BPS/DIR/GEN/CIR/04/003 April 20, 2017 To: Merchant Acquirers, Card Issuers, Card Schemes, Mobile Money Operators, PTSPs and PTSA

Re: Circular On The Implementation Of Interchange Fee

Kindly refer to the CBN Circular of November 1, 2016, referenced BPS/DIR/GEN/CIR/03/004, where the Bank had communicated the discontinuance of the Merchant Service Charge (MSC) by May 1,

2017, and its subsequent replacement with the implementation of the Interchange Regime.

In line with the aforementioned, the Bank hereby notifies all stakeholders that the implementation of the Inter change regime has been suspended, until further notice.

Please be guided accordingly.

Dipo' Fatokun Director, Banking & Payments System Department

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Re: Circular On The Implementation Of Interchange Fee

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