“We introduced Circular 114 into the economy for reasons known to all. It regulates how people should make payments for transfers through banks, money transfer services, and sub-agents. We are currently evaluating Circular 114 to identify discrepancies and understand where there are gaps in relation to the original objectives and provisions,” explained Ronald Gabriel. He further indicated that the central bank is likely heading towards amending Circular 114.
It appears that despite several modifications, Circular 114 st
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