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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GOV. DAPO ABIODUN JOINS DELEGATION TO WELCOME PRESIDENT TINUBU IN BRAZIL FOR BRICS SUMMIT. (PHOTO). #PRESS RELEASE.

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 Governor Dapo Abiodun Joins Delegation to Welcome President Tinubu in Brazil for BRICS Summit


Governor Dapo Abiodun, CON, was part of the official Nigerian delegation that received President Bola Ahmed Tinubu, GCFR, upon his arrival in Rio de Janeiro, Brazil, ahead of the 17th BRICS Summit.


President Tinubu is attending the summit at the invitation of Brazilian President Luiz Inácio Lula da Silva, following Nigeria’s recognition as a partner country—a status that ranks higher than the previous guest country designation and reflects Nigeria’s increasing global relevance.


Governor Abiodun joined other top officials in welcoming the President at Galeão International Airport, as Nigeria prepares to engage with the BRICS bloc on matters of economic cooperation, sustainable development, and strategic partnerships. South Africa, Egypt, and Ethiopia currently represent Africa as full BRICS members, while Nigeria’s new partner status marks a significant diplomatic milestone.


The 17th BRICS Summit is expected to focus on strengthening ties among emerging economies, with Nigeria poised to leverage this platform for investment opportunities and enhanced global collaboration.

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