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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BORNO IMPOSES 24-HOUR CURFEW AFTER BOMB ATTACK ROCKS MARKET.(PHOTO).

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  Borno imposes 24-hour curfew after bomb attack rocks market


The Borno State Government has announced an immediate 24-hour curfew across the state.


This is in response to the tragic detonation of an improvised explosive device in Kawori Market, Konduga area of Borno State on Wednesday night.


The explosion suspected to be carried out by a Boko Haram suicide bomber resulted in the deaths of 16 individuals and critical injuries to several others.


Police Public Relations Officer, ASP Nahum Kenneth Daso, disclosed this in a Thursday press release obtained by newsmen.


Titled, “Imposition of Curfew,”, the statement noted that the bomb explosion prompted Governor Babagana Zulum, to consult with top security officials before implementing this measure.


According to the statement, the curfew aims to restore law and order and ensure public safety.


It read, “In view of the constitutional mandate of the Nigeria Police Force and other relevant security and law enforcement agencies toward the preservation of law and order in the state. You are all aware of the incident that took place at Kawori which was the detonation of an improvised explosive devices ordinance device which led to the death of (16) persons while several others were critically injured and on admission across various Government hospitals in the state.


“In line with our constitutional mandate towards the restoration of law and order his Excellency the Executive Governor of Borno State, Prof. Babagana Umar Zulum in consultation with heads of security in the state, finds it’s expedient to declare 24hrs curfew in the state with immediate effect.


The PPRO urged residents to stay calm and adhere to the curfew. Further updates will be provided as the situation develops.


“I, therefore, wish to call upon the good people of Borno State to remain calm and law-abiding. Further developments will be communicated to you accordingly, please,” it concluded.

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