Just in: CBN releases framework for non-bank acquiring

Just in: CBN releases framework for non-bank acquiring
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By Elizabeth Adegbesan
The Central Bank of Nigeria (CBN) has released a Regulatory Framework for Non-bank Acquiring to all deposit money banks, payment service providers and all financial institutions.
The apex bank disclosed this today in a circular signed by Director, Payments System Management Department, CBN, Musa Jimoh.
The CBN circular stated that the framework is in furtherance of its mandate to promote a sound financial system and facilitate the development of electronic payments service in Nigeria.
The circular stated:” The CBN, in furtherance of its mandate to promote a sound financial system and facilitate the development of electronic payment systems in Nigeria, hereby issues the Regulatory Framework for Non Bank Acquiring In Nigeria.

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