Nigeria’s Central Bank To Launch Open Banking in August 2025
Nigeria's Central Bank has approved the launch of open banking, starting August 2025. This makes Nigeria the first African country to implement open banking.
Exclusive: CBN targets six months for recertification of PoS terminals to fight fraud
The CBN plans to recertify all active POS terminals and update terminal identification numbers (TID). The recertification process will involve licenced Payment Terminal Service Providers (PTSPs).
Exclusive: Nigerian PoS terminals will get fraud-flagging feature by end of Q1 2024
The Central Bank of Nigeria is collaborating with the Association of Mobile Money and Banking Agents of Nigeria to create a new feature on PoS terminals that will flag fraudulent transactions. The feature is expected to be launched by the first quarter of 2024.
