CBN Debunks Reports That Accounts Of OPAY, Other Fintech Brands Have Been Suspended


The Central Bank of Nigeria (CBN) has announced that the reports making rounds that it has suspended the accounts of some fintech companies like OPAY, Palmpay is fake.

According to NAN, the announcement was made known through the Acting Director of Corporate Communications of CBN, Mr. Isa AbdulMumin on Friday in Abuja.

He said “The viral news of suspending some fintech companies in Nigeria is simply fake and should be disregarded.”

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

Also, OPAY and Palmpay have taken to their social media pages to deny being suspended by CBN. OPAY stated “The post mentioning the CBN shutting down our operations is false and misleading to the general public.”

PALMPAY also stated that “We are aware of news currently being spread on social media about CBN shutting down our operations, please ignore all misleading news of this nature.”

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