The Central Bank of Nigeria (CBN) have lifted its ban on Financial technology platform, Palmpay on registration of new users.
PalmPay’s Managing Director, Chika Nwosu, made the following announcement in Lagos on Tuesday:
“We are pleased to announce that the onboarding of new customers has resumed on our platform for individual and business users following the review by the CBN
“We are thrilled to continue our mission to provide more Nigerians with access to secure and reliable financial services.”
Recall that until further notice, CBN had prohibited OPay, Palmpay, Kuda Bank, and Moniepoint, four fintech companies from opening new accounts.
The directive, however, put some fintech companies’ clients in danger because some of them tried to stop doing business with the impacted banks.
Nwosu gave clients comfort while the order was in effect, noting:
“Fintech has come to stay. We have had several meetings with different stakeholders, with the Economic and Financial Crimes Commission (EFCC), National Security Agency (NSA), Central Bank of Nigeria (CBN), and the Fintech ecosystem”.
Nwosu emphasized the focus on improving Fintech in Nigeria and providing better services to the people, stating that there is no issue.
