Tag: Payment Service Banks
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CBN to PSBs: Don’t give loans to customers
Payment Service Banks (PSBs) operating in the country have been directed not to grant loans to their customers because they are not authorised to do so. This directive was contained in the guidelines for licencing and regulation of PSBs released a few days ago by the Central Bank of Nigeria (CBN). The apex bank in…
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CBN to commence issuance of licences to payment services banks – Osinbajo
…To launch $500m innovation fund Nigeria plans to upscale its financial services sector with the issuance of licences to payment services banks as part of efforts to deepen access to finance and drive economic growth. Vice President Yemi Osinbajo said the Central Bank of Nigeria (CBN) would soon start to issue the licences to increase…
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CBN issues guidelines for Payment Service Banks
The Central Bank of Nigeria (CBN) on Thursday unveiled operational guidelines for Payment Service Banks (PSBs). The move is in furtherance of the CBN’s mandate of promoting a sound financial system and enhancing access to financial services for low income earners and unbanked segments of the society. The PSBs are to operate mostly in the…