The Central Bank of Nigeria (CBN), in collaboration with relevant stakeholders, has developed an industry portal for the verification of authorised signatories in the Nigerian banking system. The banking sector regulator explained that the move was in furtherance of its efforts in developing a safe, reliable and efficient payment system in the country. The central bank stated this in a circular addressed to all deposit money banks, registrars, insurance companies, embassies and other stakeholders, a copy of which was posted on its website.
