CBN Speaks On Suspending Opay, Palmpay Accounts

Afimag.com –

The Central Bank of Nigeria (CBN) has clarified reports on purported suspension of Opay and Palmpay accounts.

The CBN who said it has no plan of shutting down any bank operating legally described such reports as fake news.

The Acting Director, of Corporate Communications of CBN, Mr. Isa AbdulMumin, on March 24, 2023, in Abuja, confirmed the report, saying “it’ is simply fake.”

The false news had said that CBN was about to suspend accounts of the Fintech companies alleging that they were used to defraud unsuspected Nigerians.

“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,’’ the fake report had said.