The Central Bank of Nigeria (CBN) has announced the
revocation of operating licences of seven payment service providers (PSP), and
one switch operator.
The apex bank, in an official gazette of the federal
republic of Nigeria, listed the affected switch operator as 3Line Card
Management Limited.
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 gazette noted that the affected operators failed to
comply with the obligations imposed on them by the CBN in accordance with
provisions of the Banks and other Financial Institutions Act (BOFIA) Cap B3,
Laws of the Federation 2004.
“I, Godwin Ifeanyi Emefiele, Governor of the Central Bank of
Nigeria, in exercise of the powers conferred on the Central Bank of Nigeria
under Sections 60 and 62 of BOFIA, CAP B3, Laws of the Federation of Nigeria,
2004 hereby revoke the licenses of the payment service providers listed in
Schedule I and the switch licence of payment services providers listed in
Schedule II attached hereto.” the gazette reads.
The bank recently revoked the operating licences of 42 microfinance banks (MFBs) in the country.
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