The Central Bank of Nigeria has issued guidelines for licensing and regulation of payments service holding companies in the country.
This is coming after the apex bank directed that companies that desired to provide mobile money services should set up a PSHC structure to clearly delineate the activities of the subsidiaries. “All stakeholders are required to ensure strict compliance with these Guidelines and ail other regulations.” It said, “The guidelines also provide clarity on the definition and structure of a PSHC, licensing requirements, ownership and control, corporate governance, permissible and non-permissible activities, as well as supervision.