Payment coys must comply with ISO 20022 guidelines by Oct. 31 – CBN

The Central Bank of Nigeria (CBN) has mandated all participants in Nigeria’s payment ecosystem to migrate to the ISO 20022 messaging standard and implement mandatory geo-tagging of payment terminals by October 31, 2025. Daily Trust reports that ISO 20022 is a global language for financial messaging. It replaces older systems with a modern, data-rich format

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