CBN

CBN policy fails to protect bank customers regarding online transfer fraud

The Central Bank of Nigeria (CBN) has set a new guideline absolving commercial banks and payment service providers (PSP) of responsibility in situation where a customer making a transfer from N1million and above suffers a fraud. According to the policy, banks and PSP, like Remita, Quickteller e.t.c, are required to issue customers indemnity forms for

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