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PalmPay has resumed the onboarding of new customers on its fintech platform. This followed the completion of the Central Bank of Nigeria (CBN) review.
Managing Director at PalmPay Nigeria, Mr Chika Nwosu, in a statement said the development will allow the firm to continue its mission of deepening financial inclusion in the country.
He said: “We are pleased to announce that the onboarding of new customers has resumed on PalmPay for individual and business users following the review by the Central Bank of Nigeria (CBN).’’
“We are thrilled to continue our mission to provide more Nigerians with access to secure and reliable financial services.”
In April, fintechs were asked to suspend account opening for new customers due to Know Your Customers issues. This directive was also connected to an ongoing clampdown on Peer-to-Peer cryptocurrency transactions in the country.
Recall, Business Remarks reported Nwosu emphasized PalmPay’s long-term commitment to the Nigerian market.
The MD reiterated PalmPay’s unwavering commitment to regulatory requirements. He also expressed their agreement with regulators on improving the user onboarding process and reassured customers that PalmPay would resume onboarding as soon as they meet all compliance standards. This focus on transparency extends to user support.
