In a circular to all stakeholders on the guidelines for licensing and regulation of the PSBs, which was released on Thursday, it also gave N500,000 as non-refundable application fee, N2m non-refundable licensing fee, and N1m change of name fee. In the circular, it stated that the CBN might vary the requirements from time to time. It stated, “Promoters should note that in compliance with Banks and Other Financial Institutions Act, the investment of the share capital deposit shall be subject to availability of investment instruments. Upon the grant of licence or otherwise, the CBN shall refund the sum deposited to the applicant, together with the investment income, if any, after deducting administrative expenses and tax on the income.” The regulator also said the PSBs were envisioned to facilitate high volume low-value transactions in remittance services, micro-savings and withdrawal services in a secured technology-driven environment to further deepen financial inclusion and help in attaining the policy objective of 20 per cent exclusion rate by 2020. The CBN said in furtherance of its mandate to promote a sound financial system in Nigeria and the need to enhance access to financial services for low-income earners and unbanked segments of the society, it would continue to be innovative in deepening the financial services sector.]]>
![](https://thenigerialawyer.com/wp-content/uploads/2025/10/Naija-Virtual-Notary2.png")
![](https://thenigerialawyer.com/wp-content/uploads/2025/05/idrinstitute.png")
The publishing firm has produced an impressive catalogue of authoritative legal texts authored by its proprietor, Basil Momodu, Esq.,
For inquiries, contact:
📧 momodulawpublishing@yahoo.com
📞 07051822705
______________________________________________________________________
“Timely And Groundbreaking” — Babalola, Nnawuchi Release Casebook On Privacy & Data Protection In Nigeria
A timely new publication, Casebook on Privacy & Data Protection in Nigeria, co-authored by Olumide Babalola and Uchenna Nnawuchi,📘Casebook on Privacy & Data Protection in Nigeria is now available on Amazon:https://a.co/d/8TmFZrd
______________________________________________________________________
Alexander Payne Co. Law Reports
Contact & Orders 📞 0704 444 4777 | 0704 444 4999 | 0818 199 9888 🌐 www.alexandernigeria.com
______________________________________________________________________ Groundbreaking Guide For Lawyers: Adigwe Publishes ‘Artificial Intelligence For Lawyers’ With Free Research eBook
Authored by Ben Ijeoma Adigwe Esq., ACiarb (UK), LL.M, Dip. in Artificial Intelligence, Director at the Delta State Ministry of Justice, Asaba, Nigeria.
How to Order:
📞 Call, Text, or WhatsApp: 08034917063 | 07055285878
📧 Email: benadigwe1@gmail.com
🌎 Website: www.benadigwe.com
Ebook Version: Access it directly online at https://selar.com/prv626
______________________________________________________________________
[A MUST HAVE] Evidence Act Demystified With Recent And Contemporary Cases And Materials
Edited by Dr. Akin Olawale Oluwadayisi, Ph.D; ACIArb, FIPDM, Notary Public, Awi Boluwaji, and Olumide Awoyemi, LL.M, Price: ₦20,000 or $20 per copy
Order Your Copy Now:📧 Email: benakollegalclassics@gmail.com,📱 WhatsApp: 07038211889, 📞 Voice Call: 07065830466 | +2347038211889
______________________________________________________________________
