Updated September 28, 2026
What is Central Bank of Nigeria?
In short
The Central Bank of Nigeria is the national authority that licenses and supervises banks and payment service providers in Nigeria.
The Central Bank of Nigeria licenses and supervises banks and payment service providers operating in Nigeria. The providers behind cards such as Access Bank Cards, ALAT by Wema, AltBank, Kolomoni Microfinance Bank and Moniepoint answer to it, so rules on how accounts are run, how customer money is handled and how complaints are handled come from this authority. Supervision covers the institution, not the card product, which means two cards from supervised providers can differ on fees and on what happens to your balance. Check the licence shown for the specific account before you choose.