The CBN Governor, Mr Olayemi Cardoso, at the end of 295th Monetary Policy Committee (MPC) meeting of the apex Bank in Abuja on Tuesday disclosed that mobile money operators, including fintech firms like Opay, Palmpay, Kuda and Moniepoint Microfinance Banks will resume enrolling new customers in a couple of months from now.
Mr Yemi said the CBN has engaged many of the players on the need to strengthen their operations.
He mentioned that the CBN in a bid to block money laundering and illicit flows brought up measures that will tighten the sector up on both new and existing client bases.
In his words- “I am confident that as time goes on, and hopefully in another couple of months, all these will be something of the past and then you will see the sector going back into what they’ve been known to do before, but certainly with a very stronger regulatory framework.”
In his response to the question of why the CBN stopped the onboarding of new customers into fintech in April 2024, CBN Governor said reports that the apex Bank decided to clamp down on fintech firms were “furthest from the truth”.
He said “The fintechs have not been singled out for any exceptional kind of treatment,”
