Nigeria’s Central Bank Orders NIBSS To Debit Banks Over Fraudulent Transactions - Business
Nigeria’s Central Bank orders NIBSS to debit banks over fraudulent transactions, tightening accountability To curb fraud in the financial services sector, Nigeria’s Central Bank has directed the Nigeria Inter-Bank Settlement System (NIBSS) to debit the settlement accounts of commercial banks that receive fraud proceeds. The directive, effective January 2025, signals a shift towards greater accountability for banks, compelling them to tighten their fraud detection measures.https://techcabal.com/2025/01/28/cbn-nibss-fraud/ 3 Likes |
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