CBN LIMITS CARD ISSUING, MERCHANT ACQUIRING MARKET SHARE FOR FINANCIAL INSTITUTIONS. (PHOTO).

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 CBN limits card issuing, merchant acquiring market share for financial institutions The Central Bank of Nigeria (CBN) has introduced new measures aimed at curbing market concentration in the country’s payments ecosystem, including limits on the market share operators can hold across card issuing and merchant acquiring services. Card issuing refers to the provision of payment cards to customers, while merchant acquiring involves processing card payments on behalf of businesses. In a circular signed by Rakiya Yusuf, director of the payments system supervision department, on Monday, the apex bank said the measures are aimed at addressing concerns over market concentration, operational dependence, systemic importance and the localisation of payment transaction data. The CBN said rapid growth in electronic payments and digital financial services has increased the market presence of some operators, raising concerns about competition and resilience in the sector. “Accordingly, the CBN he...
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GOD'LL BUILD NIGERIA THROUGH PRESIDENT TINUBU- KUMUYI. (PHOTO).

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God’ll build Nigeria through President Tinubu — Kumuyi

The General Overseer of Deeper Life Church, Pastor Williams Kumuyi has disclosed that Nigerians should be rest assured that God will rebuild Nigeria through President Bola Tinubu.

Speaking with newsmen ahead of the monthly Global Crusade of the Church scheduled for Osogbo on Thursday, he said God has not forsaken the country and Nigerians will witness a new country through the President.

He said the President’s new cabinet was carefully chosen, made of people with antecedents, advising Nigerians to cooperate with the new administration God will make the country work through them.

“Let’s forget the past. This is a new day and I believe; we all believe that we’re going to see new things for our country through our President and through the members of the cabinet. Good things will happen.

“If you look at the new ministers one by one, you’ll see the good things they’ve done either as state governors of the past or as former ministers and I would say they have been carefully chosen. If we support and accept them and if we are not criticising their every step, we believe that God will walk through them and use them as instruments to build our nation.

“God will perform a miracle in the heart of our leaders and their hearts will be towards the people and the wisdom to lead us and do everything that will benefit us as a country, the Lord himself will do it in their hearts”.

Speaking on the continued rise in the number of churches and social vices, the cleric said the Church would revive just as God touches the heart of every man.

“There are many churches and we’ve not seen everything we should see. That’s why we’re here as CAN. What do we need? A change in our lives, transformation in our lives and in the country and what we’re believing is that the churches will get up. There will be a revival in our churches”, he added.


 

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