CBN has cleared the air on suspending OPAY and PALMPAY Accounts.
Truetells Nigeria reports that the Central Bank of Nigeria (CBN) has made a clarification on viral reports that it has suspended accounts of some Fintech companies like OPAY and PALMPAY.
According to the News Agency of Nigeria (NAN), this was made known by the Acting Director, of Corporate Communications of CBN, Mr. Isa AbdulMumin, on Friday, March 24, 2023, in Abuja, where he said that the viral news “is simply fake’’
The viral news credited to AbdulMumin claimed that the CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud.
Similarly, 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 stating that “We are aware of news currently being spread on social media about CBN shutting down the operations of PALMPAY.