Africa in BusinessAfrica in Business

 Central Bank of Nigeria reviews documentation required for cross-border trade

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The Central Bank of Nigeria (CBN) has announced a review of the documentation requirements for transactions conducted through the pan-African Payment and Settlement System (PAPSS). This initiative forms part of the central bank's ongoing commitment to foster seamless intra-African trade and promote operational efficiency for Nigerians engaging in cross-border payments within Africa. PAPSS is a cross-border financial market infrastructure enabling payment transactions across Africa, bridging trade challenges in a continent with over 41 known currencies. Thami Ngubeni spoke to Shuaibu Idris, Economist and Managing Director at Time Line Consult Limited

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