Indications emerged yesterday the Central Bank of Nigeria (CBN) may have lifted new customer onboarding of some digital-first banks.On April 29, the CBN directed five fintech companies including OPay, Moniepoint, Kuda, Palmpay, and Paga to stop onboarding new customers. This came days after 1,146 accounts were blocked for peer-to-peer crypto trading.
While the CBN has not issued any official statement regarding that, two of the affected fintechs, OPay and Kuda confirmed the development in separate messages to their customers yesterday.
Besides, Opay further confirmed the development via a post on X, saying it has resumed new users on boarding. Announcing the development via a post on its X handle, OPay said: “We are thrilled to announce that the Central Bank of Nigeria has given OPay the thumbs up to resume onboarding new users. This milestone highlights our dedication to following the rules, keeping your information safe and secure, and preventing any shady activities.”
Against the backdrop of the concerns expressed by the apex bank leading to the ban, OPay reiterated that it strictly adheres to the approved KYC verification processes and urged its customers to ensure that the due verification process is followed for all accounts and all requirements are completely fulfilled.
Kuda also took to the social media platform to share the news with its customers and followers. The fintech companies wrote, “As you probably already know, we’ve been working with the CBN to meet recent regulatory requirements by putting more account controls in place.
“Based on the work we’ve done, we’ll resume signing up new customers this week. Please, note that you’ll need your BVN, NIN, and your proof of address (followed by address verification) to open a Tier 3 account.”
