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The Central Bank of Nigeria (CBN) announced on December 24, 2020 that it had withdrawn the licenses of eight payment service providers for inability to meet capital requirements and non-compliance with specifications.

Taken since November 30, 2020, the decision was published in the official journal of December 4, 2020, said the institution based in Lagos. The companies concerned are Easifuel Ltd, Transaction processing system, Grand Towers, Paymaster, E-Revenue Gateway, Eartholeum Network, Globasure Ltd and 3Line Card Management.

 

In a press release issued in August 2020 announcing the granting of licenses to 3 payment service banks (PSBs), the regulator indicated that it would continue to monitor the development of the sector whose services are valued by the populations.