CBN Reveals Position On Revoking Licenses Of Fintech Banks

The Central Bank Governor, Olayemi Cardoso, has stated that the Central Bank of Nigeria (CBN) has not revoked the licenses of Moniepoint, Opay or any other fintech banks operating in Nigeria.

He disclosed this in a communique from Tuesday’s Monetary Policy Committee meeting held in Abuja, noting that the apex bank is not against fintechs.

His reaction comes weeks after the CBN restricted OPay, Palmpay, Kuda Bank and Moniepoint from onboarding new customers over allegations of accounts being used for illicit foreign exchange transactions.

Cardoso stressed the need for CBN to strengthen financial regulations to check against financial leakages.; Stating, “CBN is not against fintechs and has not revoked the license of any fintech organization. However, he stressed the need to strengthen regulation in the sector to check against leakages”.

He added, “It’s our responsibility to ensure that the banking system remains sound, safe, and fit for purpose".

Comments

KNIGHTS OF ST. JOHN (KSJI) TAKES A SWIPE AT BAD LEADERSHIPS IN NIGERIA

Maj. Gen. (Prof) Remy Uche, KSJI Supreme Subordinate President, Nigeria. As Christians all over the world marked the feast of the Passion of St. John the Baptist on August 29 commemoration of his beheading by King Herod for speaking up to the truth, the Knights of St. John International (KSJI) of the Roman Catholic Church has taken a swipe against which it described as obnoxious and draconian leaderships in many spheres of life in Nigeria. The Knights of St. John International (KSJI), a sodality organisation of men and women looked up to in the Roman Catholic Church as people of integrity, is not happy with the current situation in the country where leaders in some places are not serving expectedly. According to a press statement made by the KSJI leader in Nigeria (Supreme Subordinate President), Maj Gen. Remy Uche (Prof), and signed on his behalf, by his Chief of Staff, Sir Abuchi Anueyiagu, to mark the feast of the Passion of St. John the Baptist, the patron saint...

Kabiesi Akintola Becomes A First Class King And Permanent Member of Osun State Council of Kings

A Retired Senior Customs Officer, Deputy Comptroller Akintola Imran Ayodeji (Rtd) has become a First Class King and permanent member of the esteemed Osun State Council of Kings. He signed his letter of appointment on the 19th day of August 2024, at a momentous occasion which marked a significant milestone in his journey as a traditional leader and a proud son of Osun State. His Royal Majesty Oba Akintola Imran Ayodeji, The Alua Of Erin Oke Kingdom Ijesa, after signing his letter of appointment saod felt a deep sense of responsibility and commitment to serve his people and uphold the rich cultural heritage of the great state of the Living Spring. This appointment is not just a recognition of his own achievements, but also a testament to the trust and confidence placed on him by the people and the Council of Kings. As a First Class King,the Kabiesi has pledged to work tirelessly to promote the welfare and development of his ...

KLT Command Generates N36.6 Billion In 5 Months As Compt. Edeldouk TAKES Charge

The Kirikiri Lighter Terminal command of the Nigeria Customs Service, said it has generated the sum of N36.6 billion between January and May this year. This was revealed by Comptroller Martina Tilley-Gyado while giving her valedictory speech yesterday, Friday, 31st May 2024 at the command. This, according to her represents 75 percent increase when compared with sum generated within the same period of last year. Comptroller Tilley-Gyado who handed over the mantle of leadership of the command to Comptroller Joy Edeldouk appreciated the officers as well as stakeholders for their support throughout her stay at the command. She pointed out that the command relied on the stemming of cargoes to its terminals even though the cargo throughput was low. She established and extended terminal availability adding that it also transformed from simple export processing terminal exporting 869 containers since it became Export processing Terminal (EPT). Tilley-Gyado said the achievement...

Maritimegistplus

Search This Blog