Four Financial Technology Companies (Fintechs) have come under the hammer of the Central Bank of Nigeria (CBN) over allegation of their accounts being used for illicit foreign exchange transactions
Consequently, the affected Fintechs—OPay, Palmpay, Kuda Bank, and Moniepoint—have been barred from onboarding new customers.
“Hello! We’ve temporarily paused new sign-ups on our platform. This means that you’ll be unable to open a new account at the moment. We apologise for any inconvenience this may cause” one of the Fintechs wrote on its website.
