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Tag: The Central Bank of Nigeria

Business news

CBN Orders Banks, Fintechs to Host Payment Data Locally

The Central Bank of Nigeria has directed banks, fintech firms, and other payment service providers to store payment transaction data generated within the country on local servers from January 1, 2027, as part of new measures to strengthen oversight of the fast-growing digital payments ecosystem. The directive was contained in a circular issued by the […]

Fintech

CBN Expresses Concern Over Foreign Investments in Nigeria Fintechs

The Central Bank of Nigeria in its 2025 Fintech Policy Insight Report, has raised concern over Nigeria’s fintech sector heavily dependent on foreign investment, exposing it to swings in global markets. The report said the sector has shown resilience despite global economic pressures, but warned that reliance on external capital leaves it vulnerable to market […]

News

CBN Caps Banking Agent’s Daily Transactions on PoS at N1.2m in New Guidelines

The Central Bank of Nigeria has introduced new operational guidelines for agent banking across the country, capping daily cumulative transactions per agent at N1.2 million. The revised framework, released on Monday, also mandates all financial institutions to submit monthly reports on the activities of their Point-of-Sale agents to enhance oversight and service quality. The circular […]

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