NigeriaCBN Guidelines for the Operations of Agent Banking, October 2025, Monthly Returns on Fraud, Theft and Robbery
archived copy
Read from a public archive copy, not the publisher directly. The publisher does not serve this page to automated readers, so a direct fetch was not an option here; how we access sources. Archived 2025. Publisher's page: https://www.cbn.gov.ng/Out/2025/CCD/CIRCULAR%20AND%20GUIDELINES%20FOR%20THE%20OPERATIONS%20OF%20AGENT%20BANKING%20IN%20NIGERIA%20OCTOBER%206…In force.
A vulnerability and incident reporting rule binding private bodies.
- Instrument type
- a regulation made under an act
- Obligation class
- Reporting
As of .
What it requires
- This binds a financial institution licensed by the Central Bank of Nigeria to act as a Principal in agent banking, meaning a commercial bank, non-interest bank, payment service bank, microfinance bank or mobile money operator (reached by declaring that you are a bank or a payment provider), and places duties on a Super Agent and on a Payments Terminal Service Aggregator where a section below names one.
- Render monthly returns to the Director, Payments System Supervision Department of the Central Bank of Nigeria, not later than the 10th day of the following month, that include the incidents of fraud, theft or robbery at any Agent location (sections 12.1 and 12.3).
- Have each return signed by the Managing Director or Chief Executive Officer and the Chief Compliance Officer (section 12.4).
- Continuously monitor each Agent's compliance with transaction limits and report any suspicious or fraudulent activity of the Agent (section 9.1.2, item xi).
These lines are LexLint's reading of the law's text, as of .
If you get it wrong
Penalty structure
Item 5 of Appendix I to the Guidelines: a fine of not less than N2,000,000 for the offence and N250,000 for each day that the default continues, for late rendition of periodic returns. Section 12.5 treats a return submitted later than ten working days after the end of the period specified as an infraction.
- Rule
- Per violation only
- As of
- Minimum
- 2,000,000
- Currency
- NGN
- Per violation unit
- Day
- Per violation amount
- 250,000
Over one month of continuous breach, NGN 7,610,000.
Who enforces it
Enforcement body
The Central Bank of Nigeria, which may invoke the sanctions in section 14 of the Guidelines against any defaulting participant in the Agent banking system.
What this law does
Section 12.1 of the Guidelines requires a Principal to render monthly returns to the CBN, not later than the 10th day of the following month, that include incidents of fraud, theft or robbery at any Agent location. Section 12.3 of the Guidelines requires the returns to be addressed to the Director, Payments System Supervision Department of the CBN.
Section 12.5 of the Guidelines treats a return submitted later than ten working days after the end of the period specified as an infraction that shall attract sanctions in line with section 14. Item 5 of Appendix I to the Guidelines sets a fine of not less than N2,000,000 for the offence and N250,000 for each day that the default continues, for late rendition of periodic returns.
Section 9.1.2 of the Guidelines requires a Principal to continuously monitor an Agent's compliance with transaction limits and report any suspicious or fraudulent activity of the Agent. The Guidelines apply to all Financial Institutions licensed by the CBN and authorised to engage in Agent banking activities.
The Guidelines define a Principal as any of the following entities, commercial banks, non-interest banks, payment service banks, microfinance banks, mobile money operators, and any other category of financial institution that the CBN shall authorize to accept deposit and carry out Agent banking activities. The Guidelines supersede all other CBN guidelines on Agent banking and Agent banking relationships. The Central Bank of Nigeria issued the Guidelines in October 2025.
Section 14 of the Guidelines provides that the CBN may, in the event of a breach of any provision of the Guidelines, invoke any or all of the sanctions in that section against any defaulting participant in the Agent banking system.
When LexLint raises it
When your app profile says your app is a bank or is a payment provider.