Regulatory Compliance
CBN & NIBSS Compliance Framework
KREO is designed to operate within the full regulatory framework of Nigeria's Central Bank and NIBSS. This page documents our compliance posture.
CBN PSSP
Application in progress
NIBSS NIP
Onboarding active
NIBSS iGree
API access granted
NIBSS NQR
Registered acquirer
AML/CFT
Policies submitted
Compliance Framework
CBN Authorisation
- CBN Payment Solution Service Provider (PSSP) licence application submitted — KREO-APP-2025-CBN-001
- CBN eNaira API integration agreement: Sandbox credentials received; production application pending LoA
- CBN Payments System Vision 2028: KREO's merchant acceptance model directly supports CBN's CBDC retail objectives
- CBN Open Banking Operational Guidelines 2023: KREO Consent Platform built to FAPI 2.0 specification
- Monthly regulatory correspondence log maintained and available to CBN on request
NIBSS Institutional Onboarding
- NIBSS iGree: Institutional agreement executed; NDPR data processing addendum signed
- NIBSS NIP: Sponsor FI Letter of Introduction obtained; NIP Outward API via Sponsor FI
- NIBSS NQR: Registered as NQR-compliant PSSP acquirer; EMVCo NQR v2.0 implementation
- NIBSS Name Enquiry: Integrated via Sponsor FI for NUBAN validation at merchant onboarding
- NIBSS BVN Watchlist: All merchants screened at onboarding and on a 30-day rolling basis
AML/CFT & Data Protection
- CBN AML/CFT Regulations 2022: KYC (BVN), transaction monitoring, and SAR filing implemented
- Financial Action Task Force (FATF) Recommendations: KREO implements risk-based approach
- Nigeria Data Protection Regulation (NDPR) 2019: KREO registered as Data Controller with NITDA