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Central Bank of Nigeria

Circular on the Prevention of Exposures to Banks Through Payments Solutions

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Author
Central Bank of Nigeria
Reference No.
BPS/DIR/GEN/CIR/03/006
Year
2016
Pages
2 pages

This circular directs banks and payments solution service providers to generally provide customer value only after settlement, permits instant value where transactions are supported by adequate collateral, requires providers to implement exception monitoring and alerts for detecting anomalies, and mandates joint ICT capacity planning to…

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