Home Nigeria CBN Reviews Limits On Mobile Money Transaction, Balance – NAIRA NAIJA NEWS

CBN Reviews Limits On Mobile Money Transaction, Balance – NAIRA NAIJA NEWS

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THE Central Bank of Nigeria (CBN) has reviewed daily mobile money wallet transaction and balance limit, as well as the Bank Verification Number (BVN) requirement for mobile money wallet holders.

In a circular to all mobile money operators, signed by the Director, Banking and Payments System Department, CBN, Mr. Dipo Fatokun, the apex bank explained that it was reviewing the requirements in line with its initiative to enhance access to financial services through the Mobile Money Services. 

CBN stated: “In line with the initiative of the bank to enhance access to financial services through the Mobile Money Services, the daily transaction limit and balance limit on mobile money wallets have been reviewed to afford users of Mobile Money Services, more flexibility in the use of mobile…



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