The Central Bank of Nigeria (CBN) issued exposure draft Guidelines for the Handling of Authorised Push Payment (APP) Fraud, introducing Nigeria’s first dedicated regulatory framework to address customer-authorised payment scams. The draft Guidelines signal an enhanced regulatory focus on fraud prevention, clearer allocation of liability, and strengthened accountability obligations for financial institutions.
In this newsletter, we examine the key provisions of the draft Guidelines and offer our analysis of their practical implications, highlighting both their strengths and the areas that would benefit from further refinement to align with international best practices.
