CBN Announces Key Changes for PAPSS Transactions in Nigeria

Posted: 2025-05-04 12:06:30 UTC

@Pan-African Payment And Settlement System - PAPSSpapss_africa

#Nigeria

#CBN

#PAPSS

#IntraAfricanTrade

#CrossBorderPayment

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Last Updated

2025-05-04 12:06:46 UTC

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TL;DR;

The Central Bank of Nigeria (CBN) has revised documentation requirements for PAPSS transactions to promote intra-African trade and financial inclusion, allowing basic KYC for transactions below USD2,000 for individuals and USD5,000 for corporate entities.

Key Impact Areas

Enhancing seamless intra-African trade

Promoting financial inclusion

Improving operational efficiency for cross-border payments

CBN Announces Key Changes for PAPSS Transactions in Nigeria

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