More Details Emerge As CBN Reacts To Alleged Plan To Suspend OPAY, PALMPAY Accounts
According to widely circulated rumors, the Central Bank of Nigeria (CBN) has blocked accounts of some Fintech businesses like OPAY and PALMPAY.
The apex bank denied the reports, calling them fabrications.
The Acting Director of Corporate Communications for the CBN, Mr. Isa AbdulMumin, reportedly revealed this on Friday, March 24, 2023, in Abuja. He claimed that the viral rumor was “just bogus.”
According to the widely circulated report attributed to AbdulMumin, the CBN was preparing to cancel the accounts of Fintech companies because they were being used to commit fraud.
Part of the viral news stated,
“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.’’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.
He that has ears, let him hear it.
A word is enough for the wise.