Lagos - Following requests by many banks to enable them complete their certification processes, the Central Bank of Nigeria (CBN) has extended the deadline till November 30 for all commercial banks to meet the specified payment card security specifications otherwise known as the Payment Card Industry Data Security Standard (PCI DSS)
The apex bank has threatened to invoke appropriate sanctions against any bank for non-compliance with the standards after the expiration of the deadline, reports Daily Independent.
In a circular to banks, switches and processors, signed by CBN Director, Banking Payment System, Dipo Fatokun, the bank said with this extension, banks, processors and switches are expected to comply before the end of the November 30 deadline.
Read more at Daily Independent.
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