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CBN to Sanction Erring Banks e-Payments Service Providers for Infraction of System Rules and Regulations

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  Further to our Circular referenced BP5IDIR/GENICIR/02/007, dated 29th July 2015, on the above subject, please be informed that operators in the National Payments System shall be sanctioned with a penalty of N10,000.00 per day for as long as the infractions below subsist: 1. Failure to apply for the renewal of an operating licence three ...

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