19 results
- 27 Dec 2020
CBN Revokes Licences of 7 Payment Service Providers
Central Bank of Nigeria (CBN) has announced the revocation of operating licences of seven payment service providers (PSP), and one switch operator. Mr. Godwin Emefiele, CBN governor The apex bank, in…
- 5 Jul 2018
CBN Explains Cyber Security Levy on Charges
The Central Bank of Nigeria (CBN) has offered explanation for the imposition a cyber security levy of 0.005 percent on service charge collected by payment service providers, PSPs, on electronic…
- 3 Aug 2026
Nigerians Lost N25.85Bn to Digital Payment Fraud in 2025 –CBN
Nigerians lost N25.85 billion to digital payment fraud in 2025, according to Central Bank of Nigeria (CBN). Though the figure represents a significant decline from the N52.26 billion recorded in…
- 23 Nov 2021
eNaira: CBN Rallies PSPs, Fintechs to Deepen Adoption
The Central Bank of Nigeria (CBN) yesterday said it was working with key stakeholders in the payment system ecosystem to boost the adoption of its digital currency known as the eNaira. The…
- 16 Dec 2018
Banks, PSPs Race to Comply with CBN Risk-Based Cyber Security Framework
Central Bank of Nigeria (CBN) has released a risk-based cybersecurity framework and guidelines for Deposit Money Banks (DMBs) and Payment Service Providers (PSPs) which they must comply with by…
- 28 Jun 2018
CBN Unveils Cyber Security Guidelines for Banks
Central Bank of Nigeria (CBN) has released a draft risk-based framework and guidelines on cyber security for deposit money banks and payment service providers (PSPs). A publication signed by…
- 9 Sept 2021
CBN Directs Banks, PSBs to Disaggregate Bulk Payments
The Central Bank of Nigeria (CBN) has instructed banks and Payment Service Providers (PSBs) to separate all transactions that would normally categorised as bulk payment upon transition. The apex bank…
- 14 Apr 2020
FG Sacks 2 PSPs for Delay in Cash Transfer
federal government has sacked two Payment Service Providers (PSP) over their failure to meet up with contractual agreement to commence Conditional Cash Transfer (CCT) to beneficiaries in four states…
- 2 Oct 2017
CBN Halts SMS Charges on Bulk Transfers
Money deposit banks can no longer take Short Message Service (SMS) charges on bulk bank transfers done through the Real Time Gross Settlement (RTGS). The RTGS is an interbank funds transfer system on…
- 12 Sept 2024
CBN Tightens Grip on Electronic Transactions with New Rules for PoS
The Central Bank of Nigeria (CBN) has announced new regulations for processing Point of Sale (PoS) transactions across the country, directing all acquirers to route their transactions through any…
- 15 Aug 2024
Mastercard Partners with Fintech Start-up, Scale, to Accelerate Growth of Digital payment Solutions in Africa & Middle East
Mastercard has partnered with Scale, an issuer orchestration partner, to accelerate market deployment for fintech companies across Africa and the Middle East. The collaboration will alleviate key…
- 5 Sept 2025
Bank of Ghana Suspends Remittance Licenses of Flutterwave, Cellulant, Tap Tap Send, Others
The Bank of Ghana (BoG) has suspended the remittance partnerships of several fintech companies including Flutterwave, Tap Tap Send, and others for a period of one month starting September 18, 2025.…
- 17 Nov 2019
PoS Innovation Summit Focuses on African Continental Free Trade Agreement
One of Africa’s leading e-payment companies, Global Accelerex, is set to host the 7th Edition of its PoS Innovation Summit on December 11, 2019 at the Grand Ballroom of Eko Hotel & Suites,…
- 14 Dec 2018
CBN says TSA Transactions Value Hit N13.53trn in 2017
The Central Bank of Nigeria (CBN) says the migration of the Federal Government Ministries, Departments and Agencies (MDAs) to the Treasury Single Account (TSA) has led to positive growth in the value…
- 4 Jul 2016
EBS Seeks PF & FI Improved Collaborations for mPOS Growth
Guests at eNNovators Breakfast Series (EBS) believe that to deepen the adoption Mobile Point of Sale (mPOS) in the country, collaborative approach should be explored by Payment Facilitator (PF) and…
- 28 Jun 2018
CBN Mandates Banks’ Directors to Protect Data
Bank directors will henceforth be responsible for the protection and security of customers’ data against e-fraudsters, the Central Bank of Nigeria (CBN) has directed. The new rule followed the…
- 20 Dec 2020
CBN Orders Banks to Close Naira Accounts of International Money Transfer Operators
Deposit Money Banks (DMBs) in the country have been ordered to close all Naira accounts operated by International Money Transfer Operators (IMTOs). This directive was given to the commercial banks by…
- 12 Aug 2015
LAWMA to Generate Electricity
Mr. Abdulwahab Ogunbiyi, managing director of Lagos Waste Management Authority, LAWMA, has disclosed that the agency has the capability to generate electricity through waste, with cooperation of…
- 14 Feb 2022
Stitch Secures $21 Million Series A Funding Round
API fintech company Stitch has announced a $21 million Series A funding round, led by The Spruce House Partnership. Stitch will use the funding to continue building the future of money movement by…