The apex bank issued a supervisory framework for payment service banks to intensify their operations and activities for financial inclusion https://guardian.ng/business-services/cbn-deepens-financial-inclusion-with-psb-supervisory-guideline/. The primary goal of the supervisory guidelines is to ensure transparency in their operations and customer protection. The Central Bank of Nigeria has also made it mandatory for payment service banks to comply. https://www.cbn.gov.ng/Supervision/Inst-PSB.asp to extend their services to rural areas by deploying ATM machines and POS centers to those areas.
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