Nigeria: Central Bank issued Circular mandating ISO 20022 migration and terminal geo-tagging
Description
Central Bank issued Circular mandating ISO 20022 migration and terminal geo-tagging
On 25 August 2025, the Central Bank of Nigeria (CBN) issued circular No. PSS/DIR/PUB/CIR/001/001 mandating all Deposit Money Banks (DMBs), Microfinance Banks (MFBs), Mobile Money Operators (MMOs), Switching and Processing Companies (SPCs), Payment T…
Scope
Policy Area
Design and testing standards
Policy Instrument
Interoperability requirement
Regulated Economic Activity
digital payment provider (incl. cryptocurrencies)
Implementation Level
national
Government Branch
executive
Government Body
central bank
Complete timeline of this policy change
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2025-08-25
adopted
2025-10-24
in grace period