
Central Bank of Nigeria
Sanctions on Erring Banks, E-payment Service Providers for Infractions of Payments System Rules and Regulation
- Author
- Central Bank of Nigeria
- Year
- 2010
- Pages
- 7 pages
The Central Bank of Nigeria establishes sanctions for banks and electronic payment service providers that breach payment system rules and regulations. The notice sets fines, continuing penalties, refund obligations, fraud liability, operational directives, closure, prosecution, and non-monetary sanctions for infractions involving ATMs, transaction switching, bulk…