30 results
- 7 Aug 2020
CBN to Rejig Payment System Vision Strategy
Central Bank of Nigeria (CBN) has unfolded plans to review backward its 10-year Payment Systems Vision (PSV-2030) strategy, which will now span a five-year strategy and rechristened as PSV-2025. Mr.…
- 6 Aug 2012
“Efficient Payment System’ll Enhance Effectiveness of Monetary Policy, Financial Stability”
Tunde Lemo, the deputy governor, Operations of Central Bank of Nigeria (CBN) has said that an efficient payment system will enhance the effectiveness of monetary policy and the overall financial…
- 4 Jan 2021
CBN Fixes N2Bn Capital for Mobile Money Operators
Central Bank of Nigeria (CBN) has directed in a circular signed by Musa Jimoh, its director, Payments System Management Department that Mobile Money Operators (MMOs) are to maintain a minimum of N2…
- 21 Feb 2012
Cross River Automates Payment with Smart Card Technology
Cross River State Government has built several social service infrastructures on a smart card through its ICT company Smartgov.CRSG, to empower the citizens and residents of the state. The special…
- 25 Nov 2016
Glo Pledges Support for mCash Cashless Payment Solution
Globacom, has vowed to support government’s new electronic payment initiative, mCash, assuring that it would use its advanced nationwide network to back the project. The Nigerian…
- 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…
- 2 Nov 2016
eFraud Confab: Industry CEOs, Stakeholders Meet in Lagos
Top-notch chief executive officers (CEOs) of organisation from within and outside the electronic payment industry and other key stakeholders in the economy are set to converge on Lagos next week for…
- 14 Jan 2024
Worries as CBN Begins Abuja Office Decongestion Affecting 1,533 Staff
There is a growing concern among workers as the Central Bank of Nigeria (CBN), commenced the decongestion of its head office in Abuja, affecting 1,533 staff. According to an internal memo, the…
- 25 Nov 2019
Wigwe, Access Bank Boss Calls for Fintechs, Blockchain Regulation
The payment system globally has become largely digitalised with channels such as Mobile Apps, e-wallets, POS, ATMs gradually becoming the preferred ways of making different forms of payment from…
- 13 Mar 2020
CBN Extends NUBAN to other Finance Institutions
Central Bank of Nigeria (CBN) has reviewed the Nigeria Uniform Bank Account Number (NUBAN) to include other finance institutions. A circular signed by Musa Jimoh, director, Payments System Management…
- 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…
- 25 Jan 2023
CBN Debunks Scarcity of New Naira Notes
Central Bank of Nigeria (CBN) has denied scarcity of the new naira notes as alleged by some Nigerians. Godwin Emefiele, CBN Governor, represented by Musa Jimoh, Director, Payment System Management…
- 30 Apr 2019
CBN to Establish Collateral Management Regime to Regulate Fintech
In order to encourage more innovations in the payment system, the Central Bank of Nigeria (CBN) is putting in place a Collateral Management Regime (CMR) to regulate the activities of Fintech firms…
- 21 Jan 2026
Banks to Cut Fraud Response Times to Under 30 Minutes
Banks in the country have agreed to reduce fraud response times to under 30 minutes, a move expected to significantly improve recovery outcomes and limit systemic risk, according to the Central Bank…
- 4 Aug 2021
CBN Bars PSHCs from Accessing Bank Loans
Central Bank if Nigeria (CBN) has barred the proposed Payments Service Holding Companies (PSHC) from borrowing from the Nigerian banking system for the purpose of capitalising itself or any of its…
- 11 Sept 2019
CBN Urges Fintechs, Payment Service Providers to Stick to Standards
The Central Bank of Nigeria has urged financial technology companies, payment service providers and Deposit Money Banks engaged in offering payment solutions to customers to ensure they adhere to…
- 25 Nov 2019
Eziukwu, Group CEO BlueTag to Keynote 2019 Mobile Money Conference
Mr. Uzo Eziukwu, group ceo, BlueTag Group, has been scheduled to present the keynote presentation as the Association of Licensed Mobile Payment Operators (ALMPO) is set to host the 2019 Mobile Money…
- 16 Nov 2019
ALMPO announces theme, speakers for Mobile Money conference 2019
The Association of Licensed Mobile Payment Operators (ALMPO) is set to host the 2019 Mobile Money Conference. The theme for this year’s event is; Mobile Money: “Beyond Payments” . The august event is…
- 15 Jun 2026
CBN Orders Banks, Fintechs to Host Payment Data Locally
The Central Bank of Nigeria has directed banks, fintech firms, and other payment service providers to store payment transaction data generated within the country on local servers from January 1,…
- 31 May 2021
CBN Releases Framework for Non-Bank Acquiring
Central Bank of Nigeria (CBN) has released regulatory framework guiding the operations of non-bank acquiring in the country. Mr. Godwin Emefiele, CBN governor A circular issued by Musa Jimoh,…
- 20 Jul 2015
E-PPAN, FSS2020 & CBN Africa E-Government Summit Loading
Electronic Payment Providers Association of Nigeria in collaboration with the FSS2020 and the Central Bank of Nigeria, will host the biggest e-government summit in Africa next week. The summit…
- 17 Dec 2020
CBN to Sanction Operators Paying Naira for Diaspora Remittances
Central Bank of Nigeria (CBN) has warned operators against paying recipients of diaspora remittances in local currency. It warned that violators could lose their operational licences if they failed…
- 13 Mar 2025
NCS Raises Concern over Nigeria’s Replacement of Remita
Nigerian Computer Society (NCS) has expressed concern over the Federal Government’s decision to replace Remita Payment Service Ltd with the Treasury Management and Revenue Assurance System. Dr.…
- 10 Sept 2025
CBN Unveils PSV-2028 fto Drive Inclusive Financial Ecosystem
Central Bank of Nigeria (CBN) has kicked off the development of a new strategic framework for the country’s payments ecosystem with the launch of the Nigeria Payments System Vision 2028 (PSV 2028),…
- 23 Oct 2015
CBN to License Super Mobile Money Agents
Central Bank of Nigeria (CBN), has disclosed that a framework to license super agents mobile money operators is on its final stage. However, three major telecommunications firm in the country have…
- 3 Aug 2021
CBN Sets N1m as Application Fee for PSHCs Licence
Central Bank of Nigeria (CBN) released guidelines for the establishment and regulation of payments service holding companies (PSHCs) in Nigeria. Musa Jimoh, CBN’s director of payments system…
- 3 Jul 2018
CBN Recovers N60Bn from Banks as Illegal Charges
Central Bank of Nigeria has facilitated the refunds of a total of N60 billion by commercial banks to their customers on March 31, 2018 through the intervention of the consumer protection department.…
- 22 Jul 2019
How, Why Mobile Wallets Can Deepen Financial Inclusion
Access to financial services opens doors for families, allowing them to smooth out consumption and invest in their futures through education and health. Access to credit enables businesses to…
- 20 May 2024
CBN Finally Makes U-turn, Withdraws Circular on Cybersecurity Levy
Central Bank of Nigeria (CBN) has withdrawn its earlier circular directing financial institutions to implement the national 0.5 per cent cyber security levy after the policy was largely resisted. The…
- 9 Mar 2023
CBN Approves Guidelines for Open Banking in Nigeria
Central Bank of Nigeria (CBN) has approved operational guidelines for open banking in Nigeria. The guideline was released via a circular by Musa Jimoh, the Director of the CBN’s Payments System…