Regulatory Alerts2018-09-14 | BPS/DIR/GEN/CIR/05/011Added · Updated
Regulation on Instant (Inter-Bank) Electronic Funds Transfer Services in Nigeria
The Central Bank of Nigeria issues a regulation on instant inter-bank electronic funds transfer services in the country, effective October 20, 2018. The regulation sets out the rights and responsibilities of stakeholders, transaction types, limitations, settlement procedures, fees, and a dispute resolution framework. It aims to promote a sound financial system and efficient electronic payments in Nigeria.
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