Oversight
In its effort to strengthen the oversight of the payments system, the Bank established the Payments System Policy and Oversight Office, for effective monitoring of existing and planned payments system. The Payment System Policy and Oversight Office activities are:
To perform monitoring and oversight functions (onsite and offsite) on Payment system in Nigeria with particular reference to functions of Switching Companies, Mobile Payment Operators (MPO), Payment Terminals Service Providers (PTSP), Card Scheme Operators and Payment Terminal Service Aggregator (PTSA) and other Payment Service Providers.
The Bank has isusued various licenses to Payment Service Providers for operation in the Nigerian Payments System.
Mobile Money Operators (Bank Led Commercial License)
| 1 | Access Bank Plc |
| 2 | Ecobank Nigeria Plc |
| 3 | FCMB Limited |
| 4 | Fidelity Bank Plc |
| 5 | First Monie |
| 6 | Fortis Mobile Money |
| 7 | GTB Mobile Money |
| 8 | Stanbic IBTC Nigeria |
| 9 | Starling Bank Plc |
| 10 | Zenith Bank Plc |
Mobile Money Operators (Non Bank Led Commercial License)
| 1 | Cellulant Nigeria Limited |
| 2 | Chams Mobile |
| 3 | Contec Global Infotech Limited |
| 4 | Eartholeum Networks Limited |
| 5 | eTransact International Plc |
| 6 | Funds and Electronics Transfer Solution (FETS) |
| 7 | Hedonmark Management Services Limited |
| 8 | Mkudi Limited |
| 9 | Pagatech |
| 10 | Parkway Projects Limited |
| 11 | PayCom Nigeria Limited |
| 12 | Teasy International Company Limited |
| 13 | Virtual Terminal (VT) Networks Limited |
| 14 | Visual ICT Limited |
| 15 | Zinternet Nigeria Limited |
Mobile Money Operators Bank Led (AIP)
| 1 | Diamond Bank Plc |
| 2 | Sun Trust Bank Nigeria Limited |
| 3 | Union Bank Limited |
Mobile Money Operators Non Bank Led(AIP)
| 1 | Aurora Wireless Limited |
| 2 | Intellifin Solution |
| 3 | MoneyBox Africa Limited |
| 4 | Wi-Pay Technologies Limited |
Payment System Service Providers (PSSP) Commercial Licence
| 1 | CoralPay Limited |
| 2 | eTranzact International PLC |
| 3 | Flutterwave Technology Solutions Service |
| 4 | Global Accelerex Limited |
| 5 | Infiniti Segments Limited |
| 6 | InterSwitch Nigeria Limited |
| 7 | Netplus Strategy & Sales Advisory Limited |
| 8 | Parkway Projects Limited |
| 9 | Paystack Payment Limited |
| 10 | Paytitude Limited |
| 11 | PayU Payments Limited |
| 12 | SystemsSpecs Limited |
| 13 | United Payments Nigeria Limited |
| 14 | Upperlink Limited |
| 15 | Venture Gardens Nigeria Limited |
| 16 | Xpress Payments Solutions Limited |
Payment System Service Providers (AIP)
| 1 | ARCA Networks Limited |
| 2 | Cellulant Nigeria Limited |
| 3 | e-Purse Systems Limited |
| 4 | Electronic Settlement Limited (ESL) |
| 5 | Saana Corporate Investments Management Limited |
| 6 | Soft Alliance and Resources Limited |
Payments Terminal Service Provider (PTSP) (Commercial Licence)
| 1 | Brinq Africa Payment Solutions Limited |
| 2 | Citiserve Limited |
| 3 | Computer Warehouse Group |
| 4 | Easy Fuel Limited |
| 5 | Etop Nigeria Limited |
| 6 | Fidesic Nigeria Limited |
| 7 | Global Accelerex |
| 8 | Globasure Technologies Limited |
| 9 | Grand Towers PLC |
| 10 | Intellifin Solutions Limited |
| 11 | InterSwitch Nigeria Limited |
| 12 | iTex Integrated Services Limited |
| 13 | Netop Business Systems Limited |
| 14 | Netplus Strategy & Sales Advisory Limited |
| 15 | Paymaster Limited |
| 16 | Transaction Payment Solution (TPS) Limited |
| 17 | Unified Payments Services Limited |
| 18 | Wi-Pay Technologies Limited |
| 19 | Xpress Payments Solutions Limited |
Payments Terminal Service Provider (PTSP) (AIP)
| 1 | 3Gee Pay Limited |
| 2 | ARCA Networks Limited |
| 3 | Aurora Wireless Limited |
| 4 | BizzDesk Global Solution Limited |
| 5 | e-Payment Plus Limited |
| 6 | Funds and Electronics Transfer Solution (FETS) Limited |
| 7 | Soli Investments Limited |
| 8 | Swiftlink NZ Global Services Limited |
Card Schemes
| 1 | American Express International |
| 2 | Mastercard International |
| 3 | Verve International |
| 4 | Visa International |
Super-Agents (Commercial Licence)
| 1 | Capricon Digital Limited |
| 2 | Innovatives Limited |
| 3 | InterSwitch Financial Inclusion Services (IFIS) Limited |
Super-Agents (AIP)
| 1 | 3-Line Card Management Limited |
| 2 | Inlaks Computer Limited |
| 3 | Money Master Limited |
| 4 | Xpress Solutions Limited |
Switches (Commercial Licence)
| 1 | ARCA Networks Limited |
| 2 | Chams Switch Limited |
| 3 | CoralPay Limited |
| 4 | e-Revenue Gateway (ERG) Limited |
| 5 | eTranzact International Plc |
| 6 | Interswitch Nigeria Limited |
| 7 | Unified Payments Services Limited |
| 8 | Xpress Payments Solution Limited |
Switches (AIP)
| 1 | Bema Seamless International Limited |
Third Party Processrs (TPP) Commercial Licence
| 1 | Emerging Markets Payments (EMP) West Africa Limited |
| 2 | eTranzact International Plc |
| 3 | Unified Payment Services Limited |
| 4 | Xpress Payment Solutions Limited |
Clearing House
Following the implementation of Cheque Truncation, there is only one (1) Clearing House in Nigeria (i.e. Nigeria Inter-Bank Clearing and Settlement System).Framework, Policies, Guidelines and Circulars
These are various regulations and rules put in place by the Central Bank of Nigeria in collaboration with the key Stakeholders in the industry. Some of these are as listed below:- Agent Banking Framework
- Regulatory Framework for Mobile Payment Services in Nigeria
- PoS Guidelines
- Switching/Stored Value Guidelines Standard
- Standard and Guidelines on ATM Operations in Nigeria
- Non Compliance with CBN Circular on ATM Deployment
- Cash Withdrawals and Lodgments
- Operational Rules and Regulations for the Nigeria Central Switch (NCS)
- Guidelines for Handling Complaints on Electronic Card Transactions
- Penalty for non-compliance with CBN Circulars and Guidelines on ATM Operations
- Guidelines on Stored Value/Prepaid Card Issuance Operations
- Guidelines on Direct Debit
- Circular on the Need to Combat Card Fraud
- Guidelines on Cheque Truncation
- Guidelines on e-Payments of Salaries/Pensions
- Standards for Electronic Payments to Government Suppliers
- Guidelines on Nigeria Direct Debit Scheme
- Nigerian Uniform Bank Account Number Standards (N.U.B.A.N)
- Electronic Payment for MDAs with Accounts with the CBN
- Circular to DMBs IRO Clearing of Financial Instruments of Liq/Legacy Banks
- Accreditation and Re-Accreditation of Cheque Printers
- Penalty for non-compliance with CBN Circulars and Guidelines on ATM Operations, etc.
