Issued in the year 2014, the Central Bank of Nigeria (CBN)  created its guidelines for card issuance and usage pursuant to the Central Bank of Nigeria Act 2007 for the purpose of having a regulatory framework for adequate and reasonable financial services for the public as well as ensuring high standards of conduct and management throughout the banking system.

This article will be looking at notable provisions of the guidelines regarding the following:-

1. Its objectives

2. Its applicability scope

3. General requirements

4. Roles and Responsibilities of Card Issuers

5. Transaction processing

6. Fraud  & Risk Management

7. Dispute Resolution

8. Sanctions

What are the objectives of the guidelines?

The objectives of the card issuance guidelines are :-

– To provide minimum standards and requirements for the issuance and usage of payment cards in Nigeria.

– To enable issuing banks, Other Financial Institutions (OFIs), processors and card schemes upgrade and maintain their card operations to ensure optimum security, efficiency, cost effectiveness and customer friendliness.

– To serve as a tool for Banks and OFIs to assess their card issuance portfolio.

– To ensure that consumers that carry Nigerian issued cards operate within acceptable standards.

– To encourage the use of Nigerian issued cards locally and Internationally.

What is the applicability scope of the guidelines?

The guidelines are applicable to all licensed banks and OFIs that participate in the issuance and processing of debit, credit, stored value/prepaid, virtual cards, either directly or through their subsidiaries, affiliated companies or 3rd party associated companies.

What are the provisions of the guidelines regarding general requirements?

Regarding general requirements, the guidelines provide that :-

– Only banks licensed by the CBN with clearing capacity shall issue payment cards to consumers and corporations in Nigeria.

– Banks without clearing capacity can issue in conjunction with those with clearing capacity.

– All banks shall seek approval from the CBN for each card brand and type they wish to issue.

– The usage channels, limits, and frequencies and other control measures shall be defined by the issuing banks.

– All payment card transactions shall be subject to current Nigerian Financial Intelligence Unit (NFIU) reporting requirements. 

– Cards may be issued in Nigerian Naira or in any other convertible currency.

What are the roles and responsibilities of card issuers under the Guidelines?

Card issuers have roles and responsibilities assigned by the guidelines in the following areas :-

General roles

– For a card to be used abroad, the issuing banks must have carried out full KYC on the customer, as reflected in the CBN KYC manual.

Transaction Processing

– Issuers shall ensure that their card information is hosted and processed within the PCI DSS certified environment.

– Card Issuers must provide authorization services for their card transactions. This service can be outsourced.

Settlement

– Settlement of domestic transactions shall be done within the standards defined by the CBN (T +1).

Fraud & Risk Management

– Issuers shall establish board or executive management-issued AML (Anti-Money Laundering) policies that include :-

1. Assessment of money laundering.

2. Appointment of a Compliance officer.

3. Annual Internal audit of the AML program.

4. Periodic AML training for employees.

5. Investigating and filing any reports of suspicious activity required under Nigerian Law.

What are the provisions of the guidelines on Dispute Resolution?

The guidelines provide that where a customer has a domestic transactions complaint, it shall be reported to the issuer. The timeline for resolution of domestic transaction disputes shall be T +2 .

Regarding international transactions, the timeline for resolution of complaints shall be as determined by the card scheme. 

What are the sanctions that can be incurred for infractions under the guidelines?

Violations of the guidelines can incur sanctions that include :-

– Prohibitions from issuing new cards to customers

– Monetary penalties

– Revocation of approval to issue a specified card brand to its customers

– Any other regulatory sanction that may be deemed appropriate by the CBN.

Some people may not admit it, but one of the big reasons online gambling is so popular is the arrival of mobile apps. Nowadays, more people are gambling on their smartphones and tablets than ever, and there is a reason behind it.

The number of active mobile gamblers affects a lot of things, including the apps themselves. Many bookies and casinos offer quality options, but who had the chance to try the bet9ja mobile app know it is something special because it offers way more things than others. In fact, the features and options inside a given app are among the things people use to differentiate between them.

Many betting apps seem the same on paper, but in reality, they are completely different. Therefore, let’s learn more about them and see what we can expect to find.

The interface

Unsurprisingly, the interface is the first big difference between some gambling applications. People who want a top-tier experience will always want to use an app that looks good and allows them to find what they want faster than usual.

Although most of the big websites in the business have a user-friendly interface that is easy to work with, some brands are yet to do that. As a result, you need to be careful which brand you go for because some of the applications will be harder to play.

Not all apps will offer the same sections and offer as those on desktops

Many of the premier sites for online betting around the world allow people to avail themselves of many different sections. The sportsbook is the preferred option for most, but brands also have casinos, eSports categories, bingo, poker, keno, and more. Most of those things offer different perks that attract even more iGaming fans. No wonder some of the leading casino and gaming companies usually double their revenue every year.

Speaking of the sections, one of the potential problems online bettors must keep an eye on is that not all betting categories are available on mobile devices. Most operators will offer a mobile sportsbook, but the situation can be more complicated when it comes down to casino games. Since brands work with software suppliers, they rely on these companies to optimize the games for mobile phones and tablets.

Only a handful of betting apps have mobile-optimized bonuses

When talking about bonuses in online betting, we should mention that those things are among the big reasons why so many people use different iGaming sites. Deposit bonuses, free spins, no deposit bonuses, free bets, VIP perks, and many others are usually at people’s disposal, so they keep using the site they like.

While it is true that some of the best gambling companies in the world will allow people to use mobile-optimized bonuses, usually, there are many cases where brands need to do a lot of work. Sure, they will probably offer mobile bonuses that let new signees get something once they start playing. However, the offers for existing users may not be accessible to mobile clients who use the application.

There are cases where the payment section won’t be available at all

As much as people like no deposit bonuses and want to play for free, they must deposit to use a given operator’s services. Consequently, many of the world’s most popular gambling operators have top-notch payment sections that allow people to choose from a variety of options. For example, they can make deposits with cards, digital wallets, crypto, etc.

As you can imagine, gambling brands that provide high-quality mobile services have to optimize their payment category so that more people can access it. Some companies have done that successfully, whereas others are yet to implement the change. As a result, many mobile gamblers do not have the option to make any payments while using an application or a mobile site.

This can be very inconvenient because users need to open the gambling website every time when they need to add or withdrawal funds. Some gamblers are not bothered by it because they haven’t used an app that offers mobile payments, but once they do that, it will be really hard to go back.

Big Eyes Coin (BIG), which has raised an incredible $34 million during its presale, has been making waves in the cryptocurrency community. On a premier CEX, the much-anticipated launch of this meme coin newcomer is set for some point after the presale ends on June 3rd. Although there hasn’t been any official word on which exchange Big Eyes Coin will make its debut, Binance US and OKX are a couple of the potential platforms!

The project is aggressively advertising the 300% bonus code END300 in an effort to persuade more individuals to invest in the business before it launches. The team promises to make additional interesting announcements that will increase the project’s attractiveness as the launch date draws near. Even while these details are still under wraps, there are many theories floating about as to what the team has in store for the project’s future.

The developers of Big Eyes Coin have created a roadmap for the following six months that includes forthcoming developments and trades. At every step of the journey, the team is committed to keeping the community informed and involved. Big Eyes Coin intends to list on numerous exchanges as part of the six-month exchange strategy, including Gate.io, Bitget, BKEX, MEXC, LBank, CoinEx, BIT, BitMart, Deepcoin, XT.COM, BitUBU, Hotbit, and BitForex! This ambitious roadmap gives investors even more justification to invest in the project before launch by demonstrating the team’s dedication to its growth and development.

Big Eyes Coin is becoming well-known not only in the meme coin community but also in the NFT community. The SushiCrew line of NFTs, which will include the project’s cat mascot with the notable big eyes, is currently being developed by the crew. These NFTs will be extremely collectible and distinctive, with their own special qualities and peculiarities.

The team is confident that the introduction of Big Eyes Coin NFTs will enhance the project’s reputation and give Big Eyes’ supporters another source of income. Big Eyes Coin is well-positioned to profit from this trend and further solidify itself as a prominent participant in the cryptocurrency sector as the NFT market continues to expand.

The team is certain that Big Eyes Coin is the project to watch out for in the cryptocurrency market, especially with the six-month exchange roadmap and other exciting advancements in the works. The team is committed to openness, keeping investors informed and involved at all times. They are confident that Big Eyes Coin will remain a significant player in the cryptocurrency market because of their strategic strategy and ambitious vision.

Find out more about Big Eyes Coin (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Twitter: https://twitter.com/BigEyesCoin

The world is rapidly changing, and those who can adapt and stay relevant are the ones who will thrive. The move towards a decentralized future is becoming increasingly apparent, and stablecoins are playing a significant role in this shift. As the crypto market experiences a bull run, stablecoins like Tether (USDT), and DAI are gaining attention in the Decentralized Finance (DeFi) space. While on the other hand, a new cryptocurrency that focuses on data sharing and privacy are emerging such as Signuptoken.com.

Stablecoins are USD-pegged cryptocurrencies that are designed to maintain a stable value, making them an attractive option for traders and investors seeking stability in a volatile crypto market. Tether USDT currently has the highest market capitalization of $83 billion, nearing an all-time high.

Tether: A Major Force In The Quest For Decentralization

Tether is currently the most popular stablecoin in the market with a market capitalization of over $80 billion. The stablecoin has faced criticism for its lack of transparency and failure to provide sufficient evidence of its reserves. Despite this, it remains a preferred choice among traders and investors due to its stability and liquidity.

USDT has also become an integral part of decentralized exchanges and DeFi applications, providing stability and liquidity as each USDT is backed by one US dollar. This makes it easier for traders to move funds in and out of the crypto market without risk. Tether USDT is primarily used on centralized exchanges, which may not align with the decentralized ethos of Web3.

Tether has recently faced regulatory scrutiny, with regulators calling for greater transparency and oversight of stablecoins. Furthermore, Tether USDT’s primary use on centralized exchanges may not align with the decentralized ethos of Web3.

Discover DAI: The Unique Stablecoin

DAI is a stablecoin that is pegged to the value of US dollars but is maintained by a smart contract on the Ethereum block that uses collateralized debt positions (CDPs). This means that DAI is backed by a pool of Ethereum assets rather than a central authority. DAI was created in 2017 by MakerDAO, a decentralized autonomous organization (DAO) that operates on the Ethereum blockchain.

DAI offers a decentralized and transparent stablecoin alternative to USDT and can be traded on several decentralized exchanges. DAI’s decentralized nature and stability make it an attractive option for those who want to avoid instability. 

Signuptoken.com: A Community Of 1 Million Millionaires

Signuptoken.com has a unique mission in the world of crypto blockchain and tokens. They aim to establish a community of 1 million users before the launch of their blockchain and native token, without any financial commitment or presale. To achieve this, they have already gained 4,000 email subscribers in just one month after going live.

To further promote their community-building efforts, Signuptoken.com has enabled a referral mechanism that translates into a leaderboard. This feature will prioritize users with the most referrals, giving them early access to the token launch and the ability to become a millionaire. As of the fourth week of April, Signuptoken.com is well on its way to achieving 5,300 subscribers.

Signuptoken.com is not only a token but also a platform that allows users to share data while maintaining privacy. The platform enables users to trade cryptocurrencies, including stablecoins, in a secure and transparent manner. It is built on the Ethereum blockchain and utilizes smart contracts to facilitate peer-to-peer transactions.

The stablecoin market is rapidly evolving, and each stablecoin has its unique features and benefits. DAI’s decentralized nature makes it the most stable which has aided in its popularity. Tether USDT’s popularity and liquidity make it the most widely used stablecoin in the cryptocurrency trading world. What sets Signuptoken.com apart from centralized exchanges is that it gives users complete control over their funds without relying on a central authority. This aligns with the decentralized ethos of Web3 and reduces the risk of hacks and fraud.

For More Info on Signuptoken.com:

Website: https://www.signuptoken.com

Twitter: https://twitter.com/_SignUpToken

Telegram: https://t.me/SignUpToken

Altcoin season isn’t a time to overlook, with investors making 100x returns on investments. Will Big Eyes Coin (BIG) follow in the footsteps of Dogecoin (DOGE) and explode in value?

With Bitcoin (BTC) projected to reach $100,000 by 2024, the Ethereum platform upgraded to the sustainable proof-of-stake (PoS) consensus mechanism, and India completed its first blockchain-enabled letter of credit, the cryptocurrency market is now more bullish than it’s been in a long time.

When the crypto market is bullish, alt season takes off. Investors are aware that cryptocurrency is on the rise after recent news, which gives hope for the future of alternative cryptocurrency and their futures. As seen in the past, the lucky altcoin with the most appeal will soak up the newfound attention from the flock of investors entering the bullish market—it’s how Dogecoin (DOGE) skyrocketed by 400% in a single week that gave rise to over 1,000 Dogecoin millionaires.

Many attribute Dogecoin’s success to being based on a meme that made it easy to get behind and share online. Still, today the altcoin market is crowded with meme coins, but what makes Big Eyes Coin (BIG) the meme coin grabbing investor’s attention over the rest?

Similar to Dogecoin, Big Eyes Coin is represented by a cutesy animal mascot of a kitten. However, unlike Dogecoin, BIG offers an ecosystem revolving entirely around the art theme of cuteness—this will include a social platform where users create and share cute NFT content and digital assets using BIG tokens.

BIG can scale beyond other meme coins into an ecosystem and social platform thanks to the team’s direction and the coin being Ethereum-based—utilising the efficient Proof-of-Stake consensus mechanism.

The meme coin is inherently eco-friendly and future-proofed with its energy-efficient mining and fast transactions. BIG will donate 5% of the total supply to environmentally-friendly charities such as ocean sanctuaries.

Investors are looking for the future of Web 3.0 currency that will fit the theme of the new digital landscape that’s more visual and contextual than ever. Online users want a playful and personable, decentralised web where memes and communities thrive. BIG has the potential to fill those boots by becoming the next ‘People’s Coin’ that goes beyond just being a meme like Dogecoin.

BIG has already reached a massive milestone of $34.5 million raised in the presales alone. When the coin launches, it will be hosted on a top-tier CEX where investors will flood to trade. Investors wanting to get in early still have time—with the presale date set to end on June 3^rd, 2023.

More than just a ‘Meme’ Coin

BIG has a positive future by being community-focused and environmentally sensitive, also a good candidate for Web 3.0 by offering a social platform for digital assets to be traded amongst the community—a feature very few meme coins provide.

New announcements keep the community engaged and investors excited, such as BIG expanding the project with a Big Eyes casino site offering 4,000 games and 14 Play-to-Earn games.

For more on Big Eyes Coin (BIG):

Presale: https://buy.bigeyes.space/

Website: https://bigeyes.space/

Telegram: https://t.me/BIGEYESOFFICIAL

Opensea: https://opensea.io/collection/big-eyes-lootbox-cards

Twitter: https://twitter.com/BigEyesCoin