March 28, (THEWILL) – The Central Bank of Nigeria (CBN) has debunked rumours that it plans to suspend the accounts of fintech firms.
The apex bank described the story trending in the social media as fake news.
The CBN offered the clarifications following viral reports that it has suspended accounts of some Fintech companies like OPAY and PALMPAY.
The apex bank, however, refuted the reports which it described as fake news, and urged the members of the public to disregard it.
The News Agency of Nigeria (NAN) reports that this clarification was made by the Acting Director, Corporate Communications of CBN, Dr. Isa AbdulMumin, on Friday, March 24, 2023, in Abuja, where he said that the viral news “is simply fake’’
The viral news falsely credited to AbdulMumin claimed that the CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud.
The viral false news partly read, “Please if you are using OPAY, PALMPAY or any of these CHINA APPs or their POS, stop keeping much money in the account or stop using it.
“The CBN is about suspending their accounts because these apps are being used to perpetrate fraud.
Similarly, OPAY and PALMPAY had in separate social media messages denied being under the radar of the CBN.
OPAY had stated that, “the post mentioning the CBN shutting down our operations is false and misleading to the general public.’’
PALMPAY also posted a similar disclaimer stating that “We are aware of news currently being spread on social media about CBN shutting down the operations of PALMPAY,” and asked the members of the public to disregard it.
Sam Diala is a Bloomberg Certified Financial Journalist with over a decade of experience in reporting Business and Economy. He is Business Editor at THEWILL Newspaper, and believes that work, not wishes, creates wealth.
