17/9/2018/Punch Nike Popoola Any failed Nigerian Instant Payment transaction not reversed into the customer’s account within 24 hours, based on complaint of the sender and/or beneficiary will attract a fine of N10,000, the Central Bank of Nigeria has said. The CBN stated this in a ‘Circular on the regulation on […]
Money Market
CBN Issues Revised Nigerian Bankers’ Clearing System Rules
September 14, 2018/CBN The Central Bank of Nigeria (CBN), in furtherance of its mandate for the development of electronic payments system in Nigeria, hereby issues the revised Nigeria Bankers’ Clearing System (NBCS) Rules. Please, note that the effective date of the Revised NBCS Rules is 1st September, 2018. Please be […]
CBN Issues Regulation on Instant Electronic Funds Transfer Services in Nigeria
September 14, 2018/CBN The Central Bank of Nigeria {C835}, in furtherance of its mandate for the development of electronic payments system in Nigeria, hereby issues the Regulation on instant (Inter-Bank) Electronic Funds transfer Services in Nigeria. Please, note that the effective date of the Regulation is 2nd October, 2018. Please, […]
