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CBN Announces Revised Documentation Requirements for PAPSS Transactions

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By Tony Obiechina, Abuja

The Central Bank of Nigeria (CBN) has announced a significant review of the documentation requirements for transactions conducted through the Pan-African Payment &Settlement System (PAPSS) in Nigeria.In a statement by the Acting Director of Corporate Communications, Hakama Sidi-Ali yesterday said that the initiative is part of CBN’s ongoing commitment to foster seamless intra-African trade, financial inclusion, and operational efficiency for Nigerians engaging in cross-border payments within Africa.

Launched by Afreximbank in partnership with the African Union and the African Continental Free Trade Area (AfCFTA) Secretariat in January 2022, PAPSS serves as a centralized payment and settlement platform that enables instant, secure, and efficient cross-border transactions throughout Africa.
By facilitating payments in local currencies, PAPSS minimizes reliance on third-party currencies, reduces transaction costs, and supports the rapid expansion of trade under the AfCFTA.In a recent circular referenced TED/FEM/PUB/FPC/001/006 issued on April 28, 2025, CBNoutlined the key changes to the documentation requirements associated with PAPSStransactions.According to the statement the key changes which will take immediate effect include, simplified Documentation for Low-Value Transactions: Customers may now use basic KYC and AML documents provided to their Authorized Dealer Banks (ADBs) for low-valuetransactions (USD2,000 and USD 5,000 equivalent in Naira for Individuals and corporate, respectively).Similarly, for transactions above the thresholds, all documentation as stipulated in the CBN Foreign Exchange Manual and related circulars remain mandatory.”Applicants are responsible for ensuring all regulatory documents are available to facilitate the clearance of goods, as required by relevant government agencies”, the statement added.

NEWS

NIMC Approves Price Review of Products, Services 

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The National Identity Management Commission (NIMC) on Thursday reviewed the prices of its products and services after a decade of maintaining the same pricing structure

The Head, Communication Unit, NIMC, Dr Kayode Adegoke, said in a statement  that NIMC conducted a comprehensive review to ensure alignment with current operational costs and industry standards.

Adegoke said that the revised pricing structure aimed at maintaining the quality and integrity of NIMC’s services while ensuring affordability and accessibility for Nigerians.

He said that the new prices would take effect immediately.

“NIMC warns all Front-End Partners (FEPs) to adhere strictly to the new pricing structure.

Any FEP found charging more than the approved rates will face sanctions, including license revocation.

‘”NIMC is committed to protecting the interests of Nigerians and ensuring that our services are delivered at fair and transparent prices,’’ he said.

According to the NIMC spokesman, the new pricing structure will be published on NIMC’s website, www.nimc.gov.ng, where it can be accessed by all Nigerians and relevant stakeholders.

Adegoke said that NIMC reaffirmed its commitment to providing secure and reliable identity services to Nigerians.

He encouraged the public to report any FEP charging above the approved rates to the Commission’s Inspectorate and Enforcement Unit via ieu@nimc.gov.ng.

Meanwhile, the NIMC Director-General/Chief Executive, Mrs Abisoye Coker-Odusote, thanked Nigerians, sister agencies and its partners for their steadfast support.

She expressed appreciation to President Bola Tinubu; the Minister of Interior, Dr Olubunmi Tunji-Ojo; harmonisation partners and staff of NIMC for their immeasurable support towards building a strong and lasting National Identity System.

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Health

FG Pledges Partnership to Improve PHC as APHPN New Leadership Assumes Office

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By David Torough, Abuja

The federal government has promised to partner with the Association of Public Health Practitioners of Nigeria (APHPN) to improve the Primary Health Care and enhance service delivery of the citizens especially women and children.

The Special Assistant to the President on public health, Dr.

Salma Anas Kolo made the pledge at the official assumption of duty at the newly donated National Secretariat of APHPN in Abuja on Wednesday.

Dr. Kolo charged the new leadership of the association led by Dr. Terfa Kene to embark on enlightenment campaign and training of the primary healthcare workers at the rural communities to boost the capacity and breach gaps, block loopholes and strengthen the PHC across the country.

She advised the APHPN leadership to collaborate with relevant stakeholders to strengthen the primary healthcare across the country which according to her is the bedrock of the health system to accelerate service delivery and reduce maternal and child mortality rates.

On his part, president of the governing council, Renewable Energy and Energy Efficiency Association (Alliance), Prof. Chichi Onuoha described health as critical in addressing the issue of climate change and promised to collaborate with the APHPA leadership to close gaps in the healthcare delivery.

In her remarks, member, APHPA board to trustees, Prof. Clara Ejembi tasked the new leadership to be accountable and promised necessary support for it to succeed.

Prof. Ejembi congratulated the APHPN new leadership and expressed belief that their tenure will witness transformation in the healthcare system.

Secretary General of APHPN, Dr. Augustine Ajogwu said the association is on a mission to develop and sustain excellence in public health practice by public health physicians at all levels
through world class training, mentorship, leadership, public health research and information dissemination to strengthen health systems.

Ajogwu also said the APHPN is with a vision for excellence in public health by public health physicians at all levels contributing to the attainment of better health, equity and well-being.

In his brief response, APHPN president, Dr. Terfa Kene said the association under his leadership plan to adopt at least 222 PHCs to improve their functionality.

Kene appreciated all stakeholders for their support and promised to collaborate with relevant authorities to take association to the next level of development.

This is the first time APHPN will have its leadership at the seat of power since its inception in the last 50 years.

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NEWS

Women’s Prosperity Cup: Defending Champions Crash Out

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From Mike Tayese, Yenagoa

Prosperity Cup Women’s defending Champions, Niger Delta University Queens have been ousted from Nigeria’s biggest grassroots football spectacle, the Bayelsa Governor’s Football showpiece.In a keenly contested match at the BDGS battle ground, high-scoring Ezuogha Queens defeated defending champions, NDU Queens by a lone goal to progress to the next round of the competition.

Ezougha, which had put up a ruthless performance in their opening fixture scoring eight goals against Diamond Stars, had to dig deep to find the back of their opponents net in the 67th minute through Numulayefa Princess.
In the second match of the day at the same venue, Stardom Life Sports Academy of Ogboloma pipped Seaside Academy of Ovom by a lone goal.
Paul Favour’s goal on 37 minutes was all the Ogboloma-based team needed to advance to the next round of the tournament.The Kpansia arena will take centre stage on Wednesday, when Jerry Queens FC of Ogbia confront Afini Ladies of Yenagoa at 3.00PM, while Crystal Stars will keep a date with Global Queens by 4.30PM.Action continues today at the same venue with Akeddei Queens from Sagbama LGA taking on Bayelsa State College of Nursing Sciences, BYSCON Queens by 3.00PM while Niger Delta Queens trade hard tackles with Golden Sun Sports Club of Yenagoa at 4.30PM.Speaking of Tuesday’s game, victorious coach of Stardom Life Sports Academy, Inemotimi Kofi, said both sides gave their best, pointing out that his team would have done better if not for some players who missed the match because of examination commitments.According to him, he knew the game was going to be tough for his team, stating that they have been in close camping preparing for the competition, which gave his team a slight advantage.He, however, expressed the hope that his full squad will be available for their next tie.Also speaking, head coach of Seaside Academy, Awusa Anthony, said in addition to the cheap goal his players conceded which demoralized them; his team’s wastefulness in front of goal was one of their greatest undoing. He said they would go back to the drawing board, correct their mistakes and come back stronger next season.

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