Ms Nafisa Adama

Nafisa Adama

Updates

Banking

Financial inclusion: Central Bank of Nigeria introduces payment service banks
Nigeria | 22 March 2019

In a bid to promote a sound financial system and enhance access to financial services for low-income earners and the unbanked segments of the Nigerian population, the Central Bank of Nigeria recently issued the Guidelines for Licensing and Regulation of Payment Service Banks (PSBs) in Nigeria. The main objective of establishing PSBs is to enable high-volume, low-value transactions in remittance, micro-saving and withdrawal services in a secured technology-driven environment.