CENTRAL BANK OF NIGERIA INTRODUCES REGULATION TO PROTECT STAKEHOLDERS ON BILLS PAYMENTS

The Central Bank of Nigeria (CBN) has introduced guidelines for the regulation of bills payments aimed at protecting stakeholders in the system.

The regulation also mandates billers and payment service providers to provide customer support services by creating help desks to aid resolution of services issues.

The apex bank said that the scope of the regulation, titled, “Regulation for Bill Payments in Nigeria,” covers bill payments on various payment channels and any payment platform that seeks to integrate the payment side of commercial activity and merchant aggregators in Nigeria.

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