NEWS Beep: CBN Iissues Guidelines for Agent Banking, Sets Daily Transaction Limit…..details

The Central Bank of Nigeria (CBN) has currently issued a new set of guidelines for the operations of agent banking in Nigeria.

Agent banking is the provision of financial services to customers by a third party (agent) on behalf of a licensed deposit taking financial institution or mobile money operator.

This was contained in a circular signed by Musa Jimoh, director of the CBN’s payments system policy department, on Monday, the apex bank said the new rules were designed to enhance service quality, protect consumers, promote financial inclusion, and ensure the stability of the financial system.

….stay tuned for more!