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    CBN denies suspending OPAY, PALMPAY accounts

    David GreatBy David GreatMarch 25, 2023No Comments2 Mins Read
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    The Central Bank of Nigeria (CBN) has dismissed reports making the rounds that it suspended accounts of fintech companies OPAY and PALMPAY.

    CBN’s acting Director, Corporate Communications, Mr. Isa AbdulMumin, told the News Agency of Nigeria (NAN) in Abuja on Friday that the viral news “is simply fake’’.

    The viral news credited to AbdulMumin stated that the CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud.

    “Please if you are using OPAY, PALMPAY or any of these CHINA APPs or their POS, stop keeping much money in the account or stop using it.

    “The CBN is about suspending their accounts because these apps are being used to perpetrate fraud,’’ the viral news read in parts.

    • USSD: MTN to use Flutterwave, OPAY, Kuda, other payment channels

    OPAY and PALMPAY had in separate social media messages denied being under the radar of the CBN.

    OPAY had stated that: “the post mentioning the CBN shutting down our operations is false and misleading to the general public.’’

    PALMPAY also posted a similar disclaimer that: “we are aware of news currently being spread on social media about CBN shutting down the operations of PALMPAY.

    “Please ignore all such misleading news of this nature,’’ it stated.

    OPAY and PALMPAY are licensed under the CBN mobile payment regulatory framework.

    They are to provide mobile money services including mobile payment services to both the banked and unbanked, and to drive financial inclusion.

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    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    ADC will dismantle party that kept Nigerians in poverty, insecurity – Obi

    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    Onanuga slams ADC defectors, labels coalition a gathering of “desperados”

    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    ‘Desperados for power’: Onanuga slams ADC defectors, says APC won’t miss them

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Mark says Tinubu’s govt hijacking democracy, fueling poverty, insecurity

    Mark says Tinubu’s govt hijacking democracy, fueling poverty, insecurity

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    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    ADC will dismantle party that kept Nigerians in poverty, insecurity – Obi

    July 3, 2025
    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    Onanuga slams ADC defectors, labels coalition a gathering of “desperados”

    July 3, 2025
    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    Obi joins forces with Aregbesola, Mark as ADC becomes coalition’s 2027 election platform

    July 3, 2025
    Desperados for power': Onanuga slams ADC defectors, says APC won’t miss them

    ‘Desperados for power’: Onanuga slams ADC defectors, says APC won’t miss them

    July 3, 2025
    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    Troops nab 25 suspected bandits, kidnappers along Benue highway 

    July 2, 2025
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