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Central Bank Of Nigeria Revised Guidelines For The Registration Of Cash-In-Transit And Currency Processing Companies In Nigeria

Ministry of Finance, Budget and National Planning, Nigeria

To enhance the efficiency and cost-effectiveness of currency management, facilitate the generation of fit Naira banknotes for payment, promote the use of shared facilities to drive down currency management cost, engender healthy competition among service providers and ensure product quality, integrity and standardization in Nigeria, The Central Bank of Nigeria (CBN) mandates all companies, including deposit money banks, who are desirous of providing currency distribution and/or currency processing services in Nigeria, either for themselves or for other Deposit Money Bank(s) to register with The Central Bank of Nigeria. Therefore, this document provides information on the requirements for registration. It includes cash-in-transit operations, currency processing companies’ operations, registration of prospective companies and method of submission of application for registration.

Process Flow

Currency Operations Department ⬤

Operations Directorate ⬤

Office of the CBN Governor ⬤

Federal Executive Council ⬤

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Central Bank Of Nigeria Revised Guidelines For The Registration Of Cash-In-Transit And Currency Processing Companies In Nigeria Current Version

January 2022

To enhance the efficiency and cost-effectiveness of currency management, facilitate the generation of fit Naira banknotes for payment, promote the use of shared facilities to drive down currency management cost, engender healthy competition among service providers and ensure product quality, integrity and standardization in Nigeria, The Central Bank of Nigeria (CBN) mandates all companies, including deposit money banks, who are desirous of providing currency distribution and/or currency processing services in Nigeria, either for themselves or for other Deposit Money Bank(s) to register with The Central Bank of Nigeria. Therefore, this document provides information on the requirements for registration. It includes cash-in-transit operations, currency processing companies’ operations, registration of prospective companies and method of submission of application for registration.

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