Regulatory Alerts2019-10-17 | COD/DIR/GEN/INM/13/132Added · Updated
Revised Guidelines for the Registration of Cash-in-Transit (CIT) and Currency Processing Companies (CPC)
The Central Bank of Nigeria (CBN) has released revised guidelines for the registration of cash-in-transit and currency processing companies in the country. The CBN now mandates all companies and deposit money banks providing currency distribution and/or processing services to register with the CBN, with requirements including minimum capital amounts, security clearances, insurance coverage, and technical capabilities. These guidelines aim to enhance currency management efficiency, promote shared facilities, and ensure product quality and standardization.
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