Thursday, June 17, 2021
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ReportNigeria begins regulating digital payments

Nigeria begins regulating digital payments

The Central Bank of Nigeria (CBN) has published new guidelines on license requirements for payment systems with six categories of payment operators newly approved by the CBN: those involved in switching and processing, mobile money operators, payment solution services, payment terminal service providers, payment solution service providers and super agent licenses. According to a document, the guidelines set capital benchmarks with varying amounts for firms involved in fintech and payment operations.

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