CBN Imposes N1.2m Daily Limit Transaction On PoS Agents

CBN Imposes N1.2m Daily Limit Transaction On PoS Agents

Central Bank of Nigeria has restricted Point of Sales agents to a daily transaction limit of N1.2 million. In a circular signed by its Director, Payments System Management Department, Oladimeji Taiwo, the CBN said the development is to advance a cashless economy and enhance the use of electronic payment channels for agency banking operations. As […]

CBN Releases New Directive for POS Transactions

CBN Releases New Directive for POS Transactions

Central Bank of Nigeria has released a new directive to Payment Service Providers, requiring them to comply with enhanced routing guidelines for Point of Sale (POS) transactions. A circular by Oladimeji Taiwo on behalf of the CBN’s Payments System Management Department, which says the move is aimed at strengthening the monitoring of electronic transactions across […]