Nigeria’s Central Bank Upgrades Major Fintechs to National MFB Status, Formalising Nationwide Operation
The Central Bank of Nigeria (CBN) has recently upgraded the operating licenses of several major fintech companies and microfinance banks (MFBs), including OPay, Moniepoint MFB, Kuda Bank, Palmpay, and Paga, to national status. This allows them to formally operate nationwide, aligning their licenses with their existing operational footprint after meeting compliance requirements, e.g., higher capital […]
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