Web28 mei 2024 · Download PDF On 24th May, 2024, the Central Bank of Nigeria (“CBN”) issued a new circular on the licensing requirements for Payment Service Providers (“PSP”), indicating a definite resolve by the apex bank to regulate the sector. WebHowever, this is set to change as on 10 th December 2024, the Central Bank of Nigeria (CBN) issued a circular on “New License Categorisations for the Nigerian Payments System” (NPS Circular). Before delving into the contents of the NPS Circular, we will briefly examine what payment systems are and why this circular may introduce some well …
Brain Drain: Nigeria on UK
Web28 mei 2024 · Introduction On December 9, 2024, the Central Bank of Nigeria (CBN) issued a circular, recategorizing Payments System licensing in Nigeria into four major categories: Switching and Processing; Mobile Money Operations; Payment Solution Services; and Regulatory Sandbox. Web25 nov. 2024 · On November 17, there was an uproar on “FinTech Twitter” that arose from the tweet of Onyeka Akumah, the CEO of Farmcrowdy—an agritech startup. The poster citing the Central Bank of Nigeria (CBN) read: “ FinTech startups must now have a capital requirement of ₦5 Billion before they get their licences ”. At the bottom of the poster ... fix money
An Overview of the Regulatory Framework of FinTech in Nigeria ...
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