Nigerian banks must refund fraud victims within 16 working days under new CBN framework
The Central Bank of Nigeria (CBN) is rolling out a new framework to tackle rising fraud in the banking sector: customers must now report fraudulent transactions within 72 hours, while banks, including fintechs, are bound by a 16-working-day cycle to investigate and issue refunds.
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Nigerian banks must refund fraud victims within 16 working days under new CBN framework
The Central Bank of Nigeria (CBN) is rolling out a new framework to tackle rising fraud in the banking sector: customers must now report fraudulent transactions within 72 hours, while banks, including fintechs, are bound by a 16-working-day cycle to investigate and issue refunds.
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