By The Central Bank of Nigeria, on Thursday, announced the revocation of the operating licences of seven payment services providers.
This was contained in a report by the apex bank, titled ‘Revocation of operating licences of some payment service providers’.
The CBN said the affected firms have deviated from the type of business from which they were issued licenses for a continuous period of six months, adding that they also failed to fulfil the conditions subject to which their licences were granted.
Listed as the affected firms are Easifuel Limited, Transaction Processing System, Grand Towers Limited, Paymaster Limited, E-Revenue Gateway Limited, Eartholeum Network Limited, and Globasure Limited.
According to the CBN, these firms failed to comply with the obligations imposed upon them in accordance with the provisions of the Banks and other Financial Institutions Act (BOFIA) Cap B3, Laws of the Federation of Nigeria, 2004.
