The Central Bank of Nigeria (CBN) has refuted rumors circulating about the suspension of accounts belonging to Fintech companies like OPAY and PALMPAY. Isa AbdulMumin, CBN’s Acting Director of Corporate Communications, clarified to the News Agency of Nigeria (NAN) in Abuja on Friday that the viral news is entirely false.
Attributed to Mr. AbdulMumin, the viral news claimed that CBN was on the verge of suspending the accounts of these Fintech companies due to alleged involvement in fraudulent activities.
Part of the circulated message advised users to refrain from keeping large sums of money in accounts associated with OPAY, PALMPAY, or similar apps, as the CBN purportedly planned to suspend their operations.
Both OPAY and PALMPAY took to social media to disclaim the allegations.
OPAY stated that the claim of CBN shutting down their operations is baseless and misleading, while PALMPAY echoed similar sentiments, affirming awareness of the spreading rumors but denying any CBN intervention in their operations.