The Central Bank of Nigeria on October 5, 2018, issued an Exposure Draft (ED) on the Guidelines for Licensing and Regulation of Payment Service Banks in Nigeria Deadline for the receipts of comments and observations ended on October 19, 2018, and stakeholders’ inputs arising therefrom have been used to update the Guidelines.
The essence of the Regulation is to leverage on technology to promote financial inclusion and enhance access to financial services to the rural poor, low-income earners and financially excluded of the society.
Accordingly, the CBN hereby issues the Guidelines for Licensing and Regulation of Payment Service Banks (PSBs) in Nigeria.
KEVIN N. AMUGO DIRECTOR, FINANCIAL POLICY AND REGULATION DEPARTMENT
