• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Sunday, July 6, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Stop Onboarding New Customers, CBN Orders Fintech Firms

by Royal Ibeh
1 year ago
in News
CBN
Share on WhatsAppShare on FacebookShare on XTelegram

 

Advertisement

The Central Bank of Nigeria (CBN) has directed fintech companies to stop onboarding new customers until further notice.

This directive came a few months ago, when the CBN mandated all financial institutions to collect ID cards before creating financial accounts, which contradicts a 2013 central bank rule designed to support financial inclusion that allowed Nigerians to open accounts without identity cards.

In addition, the Nigeria Inter-Bank Settlement System (NIBSS) asked banks and mobile money operators to delist unlicensed fintechs from directly accepting consumer deposits.

One of the affected fintech companies who sent a notice on its website confirmed this directive from CBN.

RELATED

UAE Embassy Mum As Uncertainty Trails Visa Fee Hike

Nigerian Gov’t Grants Visa Overstayers Amnesty To Regularise Status

3 hours ago
Revocation: Kaduna Govt To Refund Buyers Of Queen Amina, Alhuda-huda College Houses 

Revocation: Kaduna Govt To Refund Buyers Of Queen Amina, Alhuda-huda College Houses 

3 hours ago

The notice reads, “We’ve temporarily paused new signups 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.”

 

While reports indicate that the directive by CBN was in relation to accounts allegedly being used for illegal forex dealings, a source who spoke to LEADERSHIP anonymously, urged Fintech companies to straighten their relationship with the regulators.

 

“Most of the fraud cases are carried out in the traditional banks. Why is CBN always after a Fintech company? I think Fintech companies would need to sit down to educate the regulators on how they operate,” the source averred.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Central Bank of Nigeria (CBN)
SendShareTweetShare
Previous Post

Seplat Energy Declares US3 Cents Dividend Per Share For Q1 2024

Next Post

NCAA Denies Purchase Of N250m Official Car

Royal Ibeh

Royal Ibeh

You May Like

UAE Embassy Mum As Uncertainty Trails Visa Fee Hike
News

Nigerian Gov’t Grants Visa Overstayers Amnesty To Regularise Status

2025/07/05
Revocation: Kaduna Govt To Refund Buyers Of Queen Amina, Alhuda-huda College Houses 
News

Revocation: Kaduna Govt To Refund Buyers Of Queen Amina, Alhuda-huda College Houses 

2025/07/05
Too High A Price To Pay For Patriotism
News

40 Ghanaian Victims Rescued As Police Bust Human Trafficking Syndicate In Ondo

2025/07/05
Group Congratulates Atiku on Appointment as Deputy Clerk to the National Assembly
News

NASS To Transmit Constitution Review Report To State Assemblies Before December

2025/07/05
Jigawa Local Gov’t Chairman Dies At 61
News

Jigawa Local Gov’t Chairman Dies At 61

2025/07/05
Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island
Business

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island

2025/07/05
Leadership Conference advertisement

LATEST

Nigerian Gov’t Grants Visa Overstayers Amnesty To Regularise Status

Revocation: Kaduna Govt To Refund Buyers Of Queen Amina, Alhuda-huda College Houses 

40 Ghanaian Victims Rescued As Police Bust Human Trafficking Syndicate In Ondo

NASS To Transmit Constitution Review Report To State Assemblies Before December

Jigawa Local Gov’t Chairman Dies At 61

Club World Cup: 9-man PSG Defeat Bayern To Reach Semi-final

Sujimoto Pays ₦273m Salary Arrears, Eyes Construction Of Tallest Tower In Banana Island

Liverpool Stars Honour Diogo Jota, André Silva At Funeral In Portugal

Chelsea Complete £48.5m Signing Of Gittens From Dortmund

Forget 2027, Presidency Tells Coalition’s ADC

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.