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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CORNELIUS ADEBAYO: PRESIDENT TINUBU PENS TRIBUTE TO A TRUE STATESMAN. (PHOTO). #PRESS RELEASE.

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 STATEHOUSE PRESS RELEASE


CORNELIUS ADEBAYO:  PRESIDENT TINUBU PENS TRIBUTE TO A TRUE STATESMAN


I received the news of the passing of Chief Cornelius Olatunji Adebayo, a former academic and former Governor of Kwara State, with profound sadness.


 


During his extraordinary lifetime of 84 years, which was marked by an unyielding commitment to public service and progressive politics, C.O., as political associates fondly called him, was a strong voice and a leading light in Nigeria's political firmament.


 


As a Senator in the Second Republic, he held aloft the banner of the Unity Party of Nigeria, led by the late sage, Chief Obafemi Awolowo.


 


In the 1983 general elections, his pedigree as a progressive politician shone brightly when he caused an electoral upset to win the governorship election in the old Kwara State as the second elected civilian governor.


 


During the dark days of military dictatorship that followed the annulment of June 12, 1993 Presidential Election won by late Chief MKO Abiola, Chief Adebayo was one of our leaders who cast aside every comfort and stood firmly in defence of democracy and the ideals of justice, fairness and equity.


 


He spent several years in exile in Canada, a period that tested his resilience and commitment to his beliefs. Later, he returned to the country to join the politics of the 4th Republic.


 


I worked closely with him during our years in exile. He demonstrated rare courage, integrity, and perseverance during these difficult times.


 


Within the Pan-Yoruba group, Afenifere, he was a voice of reason and a stabilizing influence.


 


Chief Adebayo, who later served as the Minister of Communications and Transportation between 2003 and 2007, will be remembered for his patriotism and commitment to the progress of Kwara State and the Yoruba race.


 


May the immediate family he left behind, his political associates, the government, and the people of Kwara State find consolation in his legacy of impeccable service.


 


 


Bola Ahmed Tinubu GCFR


President, Federal Republic of Nigeria


June 25, 2025

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