Fintechs, including Opay and PalmPay, are discouraging crypto trading on their platforms. Their actions follow a CBN directive to the digital banks to stop onboarding new customers. There are concerns that the fintechs are being used for money laundering and terrorism financing. Eko Hot Blog reports that Nigerian fintech companies have cautioned their customers against … Read more
Eko Hot Blog reports that the Central Bank of Nigeria (CBN) has barred some online microfinance banks from opening new accounts and accepting new customers. The microfinance banks include Moniepoint, PalmPay, Opay, PiggyVest, and Kuda, among others. Editor’s Picks Senate Gives Condition To Waive Ningi’s Suspension BREAKING: JAMB Releases 2024 UTME Results World Malaria Day: … Read more
Eko Hot Blog reports that Lagos State Governor, Mr. Babajide Sanwo-Olu, has said his administration will continue to deploy technology to provide sustainable solutions to local challenges. Sanwo-Olu spoke on Tuesday at the Endeavor Nigeria’s Annual Scale Up Entrepreneurship Summit held at the Federal Palace Hotel, Victoria Island, Lagos. According to the governor, technology deployment … Read more
EKO HOT BLOG reports that Fidelity Bank, a major commercial bank in Nigeria, has recently imposed limits on financial transfers to neobanks like as OPay, Moniepoint, and Palmpay. This decision is in reaction to worries about neobanks’ poor KYC (Know Your Customer) practices, which have resulted in a rise in fraudulent activity, according to TechCabal. … Read more