Business
Nigerians Hit With Shock As CBN Bans Opay, Kuda, Palmpay, Others
Nigerians where met with abrupt shock on monday by a statement from CBN banning Opay, Moniepoint, Kuda and Palmpay.
The Nigeria’s Apex Bank, backed by the Customer Association of Nigeria has issued a statement that places a ban on mobile money operators.
The ban also includes the suspension of fintech firms from onboarding new customers.
The mobile money operators and fintech companies affected includes Opay, Moniepoint, Kuda, and Palmpay, Nation Post reveals.
Until the release of this report, all efforts to speak with Hakama Ali Sidi, the Spokesperson of the Central Bank of Nigeria proved abortive.
Nation Post confirmed that the ban and eventual suspension was as a result of an investigation which uncovered ongoing illegal foreign transaction by customers of the suspended mobile money operators and fintech firms.
