CBN Unveil Guidelines for Licensing and Regulation of Payment Service Holding Companies in Nigeria

Image Credit: CBN

August 4, 2021/CBN

The Central Bank of Nigeria (CBN) recently issued the CBN Circular on New Categorisations for the Nigerian Payments System (ref:PSM/CIR/GEN/CIR/01/22) which requires companies, desirous of offering | switching and processing services and mobile money services, to set up a Payments Service Holding Company (PSHC) structure, such that the activities of the subsidiaries are clearly delineated.

The CBN, hereby issues the Guidelines for Licensing and Regulation of Payment Service Holding Companies in Nigeria to facilitate the understanding of regulatory requirements for operations of a Payments Service Holding Company (PSHC) in Nigeria.

All stakeholders are required to ensure strict compliance with these Guidelines and all other regulations.

Click here to read full Guideline

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