Nigerian Fintech company, OPay said it has temporarily paused onboarding new customers and creating new wallets. OPay announced this in a statement with other Fintech companies taking the same step, according to the new directive from the Central Bank of Nigeria . The firm's management in the statement also offered clarity on CBN's new directive…
The firm’s management in the statement also offered clarity on CBN’s new directive and reassured its customers of the safety of their funds.The Apex Bank had suspected the affected four Fintech companies of being used for illicit foreign exchange transactions. “This action reflects our commitment to a secure financial environment and fighting against illicit activities.”
Nigerian workers, hovering at about 50 million, have remained among the lowest earners in the world, as the monthly wage floor in Africa’s most populous country has fallen to $23 amidst the worsening cost of living crisis .
Fintech Companies Foreign Exchange Kuda Bank Moniepoint Opay Palm Pay
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Latest News, Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CBN stops Opay, Kuda, Palmpay, Moniepoint from boarding new customersFour Nigerian fintech companies have been directed by the Central Bank of Nigeria (CBN) to suspend onboarding new customers.
Source: GuardianNigeria - 🏆 1. / 94 Read more »
‘Your funds are secured’, Opay reassures customers amid CBN’s new account suspensionOpay, a leading financial services provider in Nigeria, has reassured its customers regarding the security of their funds amidst ...
Source: vanguardngrnews - 🏆 5. / 75 Read more »
OPay: We're working with CBN to fight money laundering | Customers' funds are safeOPay, a Nigerian-based financial technology firm, has assured customers that their funds and data are safe.
Source: thecableng - 🏆 2. / 80 Read more »
Illicit FX transaction: Opay breaks silence over CBN restrictionNigeria's financial technology bank, Opay, said it has closed non-compliant accounts amid the recent Central Bank of Nigeria's restriction. According to Nairametric, Opay disclosed this in a statement on Tuesday.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Forex: CBN stops four fintech banks from onboarding new customersThe Central Bank of Nigeria, CBN, has ordered four fintech companies to stop onboarding of new customers pending further notice. The affected fintechs- OPay, Palmpay, Kuda Bank, and Moniepoint have been reportedly linked to allegations of accounts being used for illicit foreign exchange transactions.
Source: DailyPostNGR - 🏆 11. / 59 Read more »
Suspension of new account openings by Moniepoint, OPay, others sparks concernsJitters arose as Kuda Bank, Moniepoint, OPay, and Palmpay temporarily halted new account openings for customers.
Source: vanguardngrnews - 🏆 5. / 75 Read more »