The Central Bank of Nigeria has withdrawn the operating licenses of seven payment service providers after they failed to meet with the BOFIA regulations.
The payment services were suspended for failing to carry out the type of businesses for which their licenses were granted over a period of 6 months.
The seven payment service provoders include Easifuel Limited, Transaction Processing System, Gran Towers Limited, Paymaster Limited, E-Revenue Gateway Limited, Eartholeum Networks Limietd and Globasure Limited.
In addition, the CBN has introduced a minimum capital of 50 million to 2 billion for new license categorisation to promote a strong and credible payment system.
