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.
You are viewing a previous version. Click here to view the current version.
Read in full screenProcess Flow
Currency Operations Department ⬤
Operations Directorate ⬤
Office of the CBN Governor ⬤
Federal Executive Council ⬤
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.
Thank you for requesting an expert analysis
A member of our team will review your request and reply back to the email address on file.