IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 12 Aug 2011 | Removal date: open ended
Still in force

Local operations

The Central Bank of Nigeria on 12 August 2011 via issuing the 'Guidelines on Point of Sale (POS) Card Acceptance Services' for the first time and with immediate effect established that all domestic transactions including but not limited to point of sales and atm transactions (i.e. processed by financial providers) must be processed exclusively at the local level.

Specifically, the Central Bank established that these transactions must not be processed outside Nigerian jurisdiction.

 

 

AFFECTED COUNTRIES

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