key highlights of the new regulatory developments in the license categorisation for the Nigerian payment systems

KEY HIGHLIGHTS OF THE NEW REGULATORY DEVELOPMENTS IN THE LICENSE CATEGORISATION FOR THE NIGERIAN PAYMENTS SYSTEM FRAMEWORK

The apex bank in Nigeria recently issued a circular to all Payment Service Providers, Banks and Other Financial institutions. This circular streamlines payments system licensing according to permissible activities. Without doubt, this new licensing framework will give clarity to new and existing market participants within the Nigerian payments system framework.

In this newsletter, we have put down key highlights on the new regulatory developments in the licensing categorisation of payment systems in Nigeria.

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