Nigeria: CBN Issues Guidelines for Licensing, Regulation of Payment Service Banks

2 November 2018

The Central Bank of Nigeria (CBN) on Thursday issued guidelines for licensing, regulation and operation of payment service banks (PSBs) in the country.

The Director, financial policy and regulation department of the regulatory body, Kevin Amuga, said the guidelines were in furtherance of the apex bank's effort to leverage on technology to promote financial inclusion, enhance access to financial services to the rural poor, low income earners and financially excluded in the society.

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