CBN Upgrades Licences of Opay, Moniepoint, Kuda, Palmpay, Paga to National Status

Central Bank of Nigeria (CBN) has approved the upgrade of operating licences for major FinTech companies and Microfinance Banks (MFBs), including Opay, Moniepoint MFB, Kuda Bank, Palmpay and Paga, to national status, formalising their nationwide operations after fulfilling regulatory compliance requirements. The development addresses the rapid expansion of these digital platforms, which have leveraged mobile

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