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CBN Revokes 8 PSP’s Operating Licence Over Non-Performance

by on December 24, 2020
 

By Adejumo Enock

The Central Bank of Nigeria, CBN has revoked the operating licences of eight payment service providers, PSP.

The Apex Bank revoked the operating licence of these PSP’s for non- performance and inability to meet capital requirements.

This was disclosed via its official Twitter account @cenbank on Thursday.

“CBN Revokes Operating Licences of eight (8) Payment Service Providers for non-performance, inability to meet capital requirements and failure to fulfil or comply with the conditions subject to which their licences were granted etc” the apex bank stated in its official twitter handle.

The Bankers bank said that details of the revocation has been published in the Federal Republic of Nigeria Official Gazette No. 196, Vol. 107, dated 4th December, 2020

READ  CBN pumps $81.2 m for BTA, PTA, Tuition fees, SMEs segments

The affected PSPs are Easifuel Limited, Transaction Processing System (TPS), Grand Towers Limited, Paymaster Limited, E-Revenue Gateway Limited, Eartholeum Network Limited, and Globasure Limited.

The Central Bank noted that the affected operators licence was revoked because of their failure to fulfil or comply with the conditions subject to which their licences were granted.

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