Skip to content

Live On Air

🎧 Listen Live 🔴

  • Home
  • Classic TV
  • Shows
  • The Crew
  • News
  • Events
  • Competitions

CBN Releases New Directive for POS Transactions

Business, News

CBN Releases New Directive for POS Transactions

Central Bank of Nigeria has released a new directive to Payment Service Providers, requiring them to comply with enhanced routing guidelines for Point of Sale (POS) transactions.

A circular by Oladimeji Taiwo on behalf of the CBN’s Payments System Management Department, which says the move is aimed at strengthening the monitoring of electronic transactions across Nigeria, also indicated a 30-day deadline requiring service providers to comply with enhanced routing guidelines for Point of Sale transactions. 

In a circular, the apex bank mandates that all PoS transactions from merchant and agent locations—whether physical or electronic—must now be routed through any CBN-licensed Payment Terminal Service Aggregator structure.

READ ANOTHER RECENT STORY HERE: https://classic97.net/tinubu-approves-2024-national-honours-awards/

More Posts

Senate Advances Bill to Regulate Informal Sector Employment

Senate Advances Bill to Regulate Informal Sector Employment

Read More »
Senate Moves to Criminalise Ripening of Fruits with Chemicals

Senate Moves to Criminalise Ripening of Fruits with Chemicals

Read More »
Kevin Spacey accepts Lifetime achievement award

Kevin Spacey Accepts Lifetime Achievement Award at Cannes Film Festival

Read More »
Jennifer Lopez attends the "Good Night, and Good Luck" Broadway opening night at the Winter Garden Theatre on Thursday, April 3, 2025, in New York. (Photo by Andy Kropa/Invision/AP)

Jennifer Lopez Faces $150K Lawsuit For Posting Paparazzi Photos Of Herself

Read More »
  • 2025 Copyright © Megalectrics Limited
  • Privacy Policy
  • Terms
Facebook-f Instagram Twitter Youtube
Facebook-f Instagram Twitter Youtube
  • Copyright © 2022 Megalectrics Limited
  • Listen Live

Live On Air

  • About Us
  • Shows
  • News
  • Classic TV
  • The Crew
  • Contact Us

Classic 97.3 FM

LAGOS

26 Keffi Street, Off Awolowo Road, Ikoyi, Lagos

  • Port-Harcourt
  • Abuja
  • Privacy Policy
  • Terms
  • 2025 Copyright © Megalectrics Limited
Facebook-f Instagram Twitter Youtube
  • Listen Live

Live On Air

  • Home
  • About Us
  • Classic TV
  • Shows
  • The Crew
  • News
  • Contact Us
Facebook-f Instagram Twitter Youtube
  • Privacy Policy
  • Terms
  • Copyright © 2022 Megalectrics Limited