• News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release
TheSightNews
  • News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release
No Result
View All Result
  • News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release
No Result
View All Result
TheSightNews
No Result
View All Result

Financial  Inclusion: CBN Issues AIP to 3 Payment Service Banks 

TheSightNews . by TheSightNews .
September 18, 2019
in Business
0
Forex Market Gets $210 million CBN Boost
0
SHARES
0
VIEWS
Share on FacebookShare on Twitter

ABUJA – In line with its objective of enhancing financial inclusion and the development of the payment system by increasing access to deposit products and payments services through a secured technology-driven environment, the Central Bank of Nigeria (CBN) has issued Approvals-in-Principle (AIP) to three Payment Service Banks (PSBs).

The three institutions issued approvals in principle to operate as Payment Service Banks are; Hope PSB, Money Master PSB and 9PSB. 

This was disclosed in Abuja by the Director, Corporate Communications Department of the CBN, Isaac Okorafor, who explained that the approval in principle was part of the processes the institutions had to fulfil in order to be granted a license to operate as fully fledged Payment Service banks. 

According to Okorafor, the decision of the CBN to issue the AIP to the applicants followed the institutions’ satisfaction of documentation and other laid down conditions.

Sequel to the issuance of the AIP to the three banks, he said they are expected to submit their respective applications for the grant of a final licence, not later than six months after the AIP. 

Speaking further, he disclosed that the CBN code of corporate governance for banks would also be applicable to the PSBs.

Previous Post

NOA to Nigerians: Heed NIHSA’s Flood Warning, Relocate to Safer Uplands.

Next Post

Xenophobia: 314 Nigerians Return from South Africa

TheSightNews .

TheSightNews .

Next Post
Xenophobia: 314 Nigerians Return from South Africa

Xenophobia: 314 Nigerians Return from South Africa

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Follow Us

Recent Posts

  • HURIWA Urges S/East Governors to Activate Legislative Framework to Back ‘Ebubeagu’, Opening Grazing Ban
  • EBUBEAGU: South East Governors Float Regional Security Outfit
  • FG Names Ebute Metta Train Station After Former Lagos State Governor, Mobolaji Johnson
  • Lagos-Ibadan Railway: Amaechi Urges Contractor to Hasten Work
  • Amaechi: National Transport Policy Will Unveil Untapped Potentials in AfCFTA.

Categories

  • Ad! (2)
  • Articles/Opinions (128)
  • Aviation (161)
  • Business (573)
  • Education (164)
  • Entertainment (112)
  • Features (19)
  • Health (189)
  • ICT (96)
  • Interviews (14)
  • News (1,199)
  • Oil&Gas (200)
  • Politics (391)
  • Press Release (2)
  • Real Estate (8)
  • Religion (59)
  • Security (487)
  • Sports (130)
  • World News (291)
  • News
  • Business
  • Politics
  • Entertainment
  • Sports
  • World News
  • Interviews
  • Press Release

© 2021 The Sight News

No Result
View All Result
  • Home
    • Sample Page
  • Newsletter
  • Press
  • Press Release

© 2021 The Sight News