Central Bank of Nigeria - Regulatory Framework for Mobile Payments Services In Nigeria


The Central Bank of Nigeria's regulatory framework addresses business rules governing the operation of mobile payment services in Nigeria. It specifies basic functionalities expected of any mobile payment service and solution in Nigeria. In addition, it sets the basis for regulation of mobile payments services offered at different levels and by diverse participants. This framework does not cover the use of mobile phone as an access to the internet for the purpose of using internet banking services. In that regard, the provisions of the Electronic Banking Guidelines should apply. The framework covers issues surrounding the following topics:

1. Mobile Payments Systems
2. Infrastructure
3. Technology
4. Business Rules     
5. User Protection   
6. Compliance Monitoring

Document Details

Document Type: 
Document Topic: 
Doument Author (Entity): 
Authoring Country: 
Originating Country or Trade Block: 
Issue Status: 
Year of Document: 
Date of Document: 
Thursday, June 11, 2009
Document Authors: 
Central Bank of Nigeria
Language (This Document): 

Legal Disclaimer: The content appearing on this site is for general information purposes only and made available on an "AS-IS" basis. The law is subject to change and no representation or warranty is made with regard to accuracy or fitness for a particular purpose.