The Central Bank of Nigeria (CBN) has lifted its ban on OPay, Moniepoint, Kuda, Palmpay, and Paga, allowing these fintech companies to resume the process of onboarding new customers.This decision comes approximately five weeks after the CBN had initially halted the fintechs’ ability to onboard new customers due to concerns that their platforms were being exploited for illicit foreign exchange transactions.Although the CBN has not released an official statement about this development, OPay and Kuda, two of the affected fintech firms, have confirmed the news in separate communications to their customers on Monday.
