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Measuring Fees and Transparency in Nigeria’s Digital Financial Services

High fees and lack of pricing transparency may be a barrier to accessing financial services, especially for low-income and rural populations. In Nigeria, where access to financial services is lower than in neighboring countries, the Central Bank issued regulations to limit customer fees. However, anecdotal evidence suggests these regulations are not always followed. Researchers are conducting a transaction audit to determine whether digital services providers are complying with the regulations. The results will help policymakers, including the Central Bank of Nigeria, better understand and respond to issues related to both compliance with pricing rules and transparency of prices.br

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