A source at the bank has disclosed that the Central Bank of Nigeria (CBN) has stopped mobile money operators like fintech firms such as OPay, Palmpay, Kuda Bank, and Moniepoint from enrolling new customers.
The 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 enrolling of new customers to “support government efforts to clean up the financial industry”.
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 unauthorised dealing in forex exchange, money laundering and terrorism financing.
The judge ordered that the accounts be frozen pending conclusion of investigation.
OPay clarifies New CBN directive, Reassures Customers#OPayBeyondBanking #OPay pic.twitter.com/OssFmdFJ2U
— OPay (@OPay_NG) April 30, 2024
