CBN STOPS OPAY, MONIEPOINT, OTHERS FROM ACCEPTING NEW CUSTOMERS
The Central Bank of Nigeria (CBN) has stopped mobile money operators including fintech firms like OPay, Palmpay, Kuda Bank, and Moniepoint from onboarding new customers.
A source at the bank, who confirmed the development however, said no circular was served by the apex bank in that respect.
The affected fintech companies were reported to have accounts being used for illicit foreign exchange transactions.
OPay confirmed the development in a statement on Tuesday, saying it has paused the onboarding of new customers to “support government efforts to clean up the financial industry”.
OPay clarifies New CBN directive, Reassures Customers#OPayBeyondBanking #OPay pic.twitter.com/OssFmdFJ2U
— OPay (@OPay_NG) April 30, 2024
Meanwhile, Justice Emeka Nwite of the Federal High Court Abuja has granted the Economic and Financial Crimes Commission (EFCC), an interim order to freeze 1,146 bank accounts belonging to individuals and companies being investigated for alleged offences bordering on unauthorized dealing in forex exchange, money laundering and terrorism financing.
The judge ordered that the accounts be frozen pending conclusion of investigation.
More Stories
BREAKING: FUBARA WINS AS COURT NULLIFIES AMENDMENT OF LG LAW BY PRO-WIKE LAWMAKWERS
The Rivers State House of Assembly, Martins Amaewhule faction's modified Local Government Law has been declared unlawful by the Rivers...
BREAKING: TONI KROOS ANNOUNCES TO RETIRE FROM FOOTBALL AFTER EURO 2024
Real Madrid midfielder, Toni Kroos has announced he will retire from football after Germany’s Euro 2024 campaign. Kroos confirmed his...
REPS CALL FOR URGENT AUDIT OF AIRPORT PERSONNEL, SUMMON KEYAMO
The House of Representatives has called for an urgent and comprehensive audit of all airport personnel. Hon. Jesse Onuakalusi brought...
(PHOTOS): NIGERIAN WIG MAKER BREAKS 3RD GUINNESS WORLD RECORD WITH ‘WILDEST WIG’
Creator of the longest handmade wig is back with another hair-raising record – the widest wig. Helen Williams (Nigeria) crafted...
REPS URGE FG TO STRENGTHEN SECURITY IN KOGI OVER KIDNAPPING, BANDITRY
In response to the actions of bandits and kidnappers in the area, the House of Representatives has requested that the...
WCQ: SUPER EAGLES BATTLE READY FOR SOUTH AFRICA – FINIDI
Super Eagles head coach Finidi George says his team is focused on their next 2026 FIFA World Cup qualifying fixture...