CBN orders MoniePoint, Kuda, 2 others to stop onboarding new customers
The Central Bank of Nigeria (CBN) has directed fintech companies to stop opening new accounts until further notice. The new directive will affect OPay, Palmpay, Kuda Bank and Moniepoint. This directive is coming few months after the CBN mandated all financial institutions to collect ID cards before creating financial accounts, which contradicts a 2013 Central Bank rule designed to support …