Tag Archives: CBN Introduces New Fraud-Refund Framework

CBN Introduces New Fraud-Refund Framework, Mandates Banks To Reimburse Victims Within 16 Working Days

BY ABU-SATAR HAMED  ABUJA, NIGERIA – The Central Bank of Nigeria (CBN) has unveiled a new framework aimed at curbing the rising wave of fraud within the country’s financial sector. Under the draft guidelines, customers must report fraudulent transactions within 72 hours, while banks and fintechs are now obligated to …

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