CBN upgrades Opay, Moniepoint, other major FinTechs, MFBs to national status
The Central Bank of Nigeria (CBN) has upgraded the licences of selected FinTechs and Microfinance Banks (MFBs) with nationwide operations to national status.
The disclosure was made by Mr. Yemi Solaja, Director of the Other Financial Institutions Supervision Department (OFISD) at the CBN, during the just concluded annual conference of the Committee of Heads of Banks’ Operations (CHBOs) in Lagos.
This development is aimed at aligning licensing structures with the actual operational footprint of FinTechs and MFBs whose services now span across Nigeria, ensuring proper regulatory oversight.
