Oftentimes, the required certificates for processing a PSSP (Payment Service Solution Provider) Licence at the CBN (Central Bank of Nigeria) may not be clear to businesses.
In this commentary, our fintech lawyers guide you on the certificates required for your PSSP Licence under the CBN’s IT (Information technology) Standards Blueprint for Payment Service Providers (PSPs) and National Microfinance Banks (NMFBs) and Approved New Licence Categorizations Requirements (consolidated) 2021.
The CBN applied the IT Standard Blueprints to national microfinance banks and PSPs, including PSSPs.
Should you be concerned about the licencing requirements for a PSSP, our fintech law team commented on the PSSP Licencing regime here.
A PSSP’s IT compliance requirement will change within one year of operation. We recommend you secure a no-fee retainer with an IT Consultant for those additional certificates.
Our fintech law team regularly assist clients in processing PSSP licence at the Nigerian Central Bank. We complement our fintech law practice with education law and commercial dispute (litigation).
