CBN Sweeps Away Red Tape: New Rules Make Cross-Border African Payments Easier for Nigerian
The Central Bank of Nigeria (CBN) has announced new measures aimed at simplifying documentation requirements for transactions conducted through the Pan-African Payment and Settlement System (PAPSS). In a circular issued on Monday, April 28, 2025, the apex bank disclosed that individuals making PAPSS transactions up to $2,000 and corporate entities up to $5,000 will now