The Central Bank of Nigeria (CBN) has mandated that all POS operators route transactions through licensed payment terminal service aggregators.
According to a circular released on the CBN’s website on Thursday, the measure is intended at improving the country’s electronic transaction tracking and administration capabilities.
“As part of efforts to mitigate the concerns regarding channelling all point of sale transactions through a single aggregator, the CBN on April 19, 2024, granted a second PTSA license to Unified Payment Services Limited.
“In furtherance of the above, the CBN hereby directs as follows: 1 Acquirers are henceforth required to route all transactions from PoS terminals at merchant and agent locations, whether on physical or electronic PoS terminals, through any CBN-licensed Payment Terminal Service Aggregator. PTSAs are required to send PoS transactions to only processors certified by the relevant payment scheme, nominated by the acquirer, and licensed by CBN,” the apex bank noted.
It was observed that in 2011, the Nigeria Interbank Settlement System Plc was granted a PTSA license to handle PoS transaction aggregate.
To address concerns about routing all transactions through one aggregator, the CBN awarded Unified Payment Services Limited a second PTSA license in April of this year.
“To achieve the objective of tracking electronic transactions in Nigeria, the Central Bank of Nigeria in August 2011 granted a Payment Terminal Service Aggregator license to Nigeria Interbank Settlement System Plc.
“As part of efforts to mitigate the concerns regarding channelling all Point of Sale transactions through a single aggregator, the CBN on April 19, 2024, granted a second PTSA license to Unified Payment Services Limited.”
The CBN has directed that all acquirers, the organisations in charge of processing payments from PoS terminals, route transactions through one of the two licensed aggregators.
Furthermore, licensed processors must connect with both PTSAs to allow acquirers to select their preferred service providers.
It stated that payment terminal service providers, who are in charge of implementing and managing PoS terminals, must ensure that their devices and software are compatible with any PTSA selected by the acquirers.
The CBN requires PTSPs to produce monthly reports indicating the number of merchants and agents they supervise, as well as the PTSA services used.
Similarly, the apex bank requires each PTSA to submit monthly reports on all transactions completed through its systems.
According to the apex bank, reports must be sent to the director of the Payments System Management Department within seven days of the end of each month.
The apex bank asked all PSPs to regularise their operations with the PTSAs within 30 days, adding that non-compliance would result in appropriate consequences.
Recall that on July 7, the Corporate Affairs Commission (CAC) announced that all point-of-sale operators in the country must register with them before September 5.
![Is Anthony Odiong still a priest after life in prison sentence over rape? Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-300x200.jpg)


![Is Anthony Odiong still a priest after life in prison sentence over rape? Rev. Fr. Anthony Odiong, a US-based Nigerian Louisiana Catholic priest, was arrested in Florida on Tuesday for possessing child pornography, according to law authorities. The suspect is reportedly accused of many other cases of sexual assault. The Waco, Texas, Police Department announced in a Facebook post on Tuesday that officers detained Father Anthony Odiong in Ave Maria, Florida, with assistance from the United States Marshals Service. Waco police announced in March that they had received "credible information" about a sexual assault allegedly committed by Odiong in Texas in 2012. “During the subsequent investigation, a case of possession of child pornography was uncovered,” the police said. The priest was apprehended in Florida by the Caribbean Regional Fugitive Task Force. The Waco Police Department said that he will be extradited to Texas. Odiong had previously served in the Archdiocese of New Orleans before being removed as priest in December of last year due to controversy over homilies in which he claimed, among other things, that the Catholic Church was being taken over by "the gays." At the time, the priest was also accused of abusive behaviour; a Louisiana lady claimed in U.S. bankruptcy court that Odiong had committed both financial and sexual abuse against her. Prior to joining the New Orleans Archdiocese, Odiong served in at least two Texas parishes. On Tuesday, Waco police stated that during their sexual assault investigation, "the presence of other survivors was revealed." “Multiple women have come forward to tell similar experiences as the sexual assault survivor who reported the initial allegation,” the police department said. “Survivors’ experiences ranged from sexual assault and indecent assault, more commonly recognised as groping, and financial abuse, with some survivors experiencing every element of Anthony Odiong’s manipulation.” The police said they “believe there may be more survivors, and we wish to speak with anyone who [has] had similar encounters” with the priest. The Archdiocese of New Orleans issued a brief news release on Tuesday noting Odiong's arrest in Florida. The archdiocese “encourages anyone with any information to contact law enforcement,” the release said.](https://chronicle.ng/wp-content/uploads/2024/08/ezgif-6-4730550ede-450x300.jpg)



