Nigeria, April 29 -- The Central Bank of Nigeria (CBN) on Monday eased documentation requirements for low-value transactions under the Pan-African Payment and Settlement System, aiming to boost cross-border payments and intra-African trade.

It said the move is part of efforts to promote intra-African trade, financial inclusion and operational efficiency for Nigerians engaging in transactions across the continent.

The central bank disclosed this in a press release signed by the Acting Director, Corporate Communications, Hakama Ali.

PAPSS, launched in January 2022 by Afreximbank with the African Union and AfCFTA Secretariat, is a platform that enables businesses and individuals across Africa to make instant, secure payments in local curr...