The Central Bank of Nigeria (CBN) has lifted its ban on onboarding new customers imposed on OPay, Kuda, Palmpay, Moniepoint, and Paga.
This restriction of the ban follows the expiration of a May 31 deadline given to the fintechs to meet certain compliance requirements.
In an update on its official X handle, Opay announced that it has begun onboarding new customers.
“We are thrilled to announce that the Central Bank of Nigeria has given OPay the thumbs up to resume onboarding new users!
“This milestone highlights our dedication to following the rules, keeping your information safe and secure, and preventing any shady activities.
“Furthermore, it is imperative to reiterate that OPay strictly adheres to the approved KYC verification processes and urges our esteemed customers to ensure that the due verification process is followed for all accounts and all requirements are completely fulfilled.
“We thank all our amazing customers for your understanding, support, patience and vote of confidence during this time as we navigated carefully thought-through and essential requirements set by the Central Bank of
Nigeria.
“Our mission remains the same: to make financial services more inclusive through technology, make transactions a breeze, and provide a hassle-free payment experience for all Nigerians. And, we’re not stopping there! Keep an eye out for new and exciting features on the OPay App.
“Thanks for trusting us and choosing OPay”.
In a similar update, Kuda announced on its official X handle:
“As you probably already know, we’ve been working with the CBN to meet recent regulatory requirements by putting more account controls in place.
“Based on the work we’ve done, we’ll resume signing up new customers this week!”.
