JUST IN: CBN Fixes Date For OPay, Palmpay, Others To Resume
The Central Bank of Nigeria (CBN) has revealed that mobile money operators in the country including fintech firms like OPay, Palmpay, Kuda Bank, and Moniepoint would resume the enrolment of new customers in a few months.
The CBN Governor, Olayemi Cardoso, disclosed this at the 295th Monetary Policy Committee (MPC) meeting of the apex bank in Abuja on Tuesday.
At the meeting, the MPC jacked up interest rates from 24.75 per cent to 26. 25 percent.
In April, the CBN barred some microfinance banks, including Moniepoint, Opay and Kuda from opening new accounts and accepting new customers over allegations that they were being used to funnel cryptocurrency and manipulate the naira’s value.
Cardoso said the apex bank had had engagements with operators to improve their operational frameworks.
“I am confident that as time goes on, and hopefully in another couple of months, all these will be something of the past and then you will see that sector going back into what they’ve been known to do before, but certainly with a very stronger regulatory framework,” he added.
The CBN governor denied that there was any crackdown on fintechs, saying that “as at this point in time, we have not revoked the licenses of any of the fintech organisations”.
