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…
- 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…
- 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,…
- 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…
- 17 Nov 2021
RIMAN Urges Banks to Embrace Best Risk Management Practices
Risk Management Association of Nigeria (RIMAN) has charged financial services providers, especially banks, to embrace best risk management practices in their operations as new technologies and…
- 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…
- 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…
- 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…
- 24 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…
- 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…
- 10 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…
- 5 Apr 2016
MAXUT Consulting Tasks Firms, Banking Sector on Cyber Security
Mr Michael Odusami, president of MAXUT Consulting, has urged businesses and the banking sector to ensure the safety of their online transactions. Odusami gave the advice during the ``Cyber Security…
- 16 Apr 2025
Customs Deepens Partnership With Access Bank On System-Wide Integration
Following the successful deployment of its Unified Customs Management System (UCMS), codenamed B’odogwu, the Nigeria Customs Service (NCS) has intensified strategic engagements with key stakeholders…
- 17 Dec 2017
NIBSS, PFS Launch National Automated Cheque Clearing System
Nigeria Inter-Bank Settlement System (NIBSS) and Precise Financial Systems (PFS) have collaborated to unveil a new National Automated Clearing System (NACS), which allows all the Deposit Money Banks…
- 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 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…
- 14 Jun 2015
CBN Asks Banks to Set Up Fraud Desks
Central Bank of Nigeria (CBN) has in a circular directed Deposit Money Banks to maintain dedicated fraud desks in order to stem frauds within the banking industry. The CBN also said that it had…
- 8 Dec 2017
NIBSS Partners PFS To Launch National Automated Cheque Clearing System
NIBSS collaborates with PFS to launch National Automated Cheque Cheque Clearing System Nigeria Inter-Bank Settlement System and Precise Financial Systems have collaborated to unveil a new National…
- 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…
- 11 Jun 2014
E-PPAN' 3rd Summit Focuses on Increasing Govt Revenue Via E-Payment
The E-Payment Provides Association of Nigeria (E-PPAN) is set to host the 3rd edition of its Annual E-Payment Government Summit from the 8th – 9th of July 2014 at the Shehu Musa Yar’adua Centre,…
- 29 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…
- 14 Oct 2021
CBN Asks Banks to Report Dead Customers’ BVN to NIBSS within 24hrs
Central Bank of Nigeria (CBN) has directed banks and other financial institutions to report Bank Verification Number (BVN) of all dead customers to Nigeria Interbank Settlement System (NIBSS) within…
- 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…
- 26 Jan 2015
CBN Unveils New Anti-electronic Fraud Strategy
Central Bank of Nigeria (CBN) may have raved up its anti-electronic fraud campaign with the emergence of a two-factor authentication for internal banking. The initiative was scripted as a foil to the…
- 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,…
- 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…
- 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…
- 2 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.…