The apex bank, in a circular on Tuesday, signed by Musa Jimoh, its director, payments system management department, said due to the risks associated with contactless payments, “verification and authorisation would be required for transactions above the limits”.
“Following the issuance of the guidelines on contactless payments in Nigeria and in cognisance of the risks associated with contactless payments, the bank, hereby, defines transaction limits above which verification and authorisation are required,” the circular reads.
