The Central Bank of Nigeria (CBN) yesterday announced the revocation of the operating licenses of seven dormant payment service providers (PSPs).
The apex bank, in an official gazette of the federal republic of Nigeria, listed the affected switch operator as 3Line Card Management Limited.
The PSPs are Easifuel Limited, Transaction Processing System (TPS), Grand Towers Limited, Paymaster Limited, and E-Revenue Gateway Limited. The others are Eartholeum Network Limited, Globasure Limited and 3Line Card Management Limited.
The Apex bank in a gazette explained that the affected operators failed to comply with the obligations imposed on them by the CBN in accordance with provisions of the Banks and other Financial Institutions Act (BOFIA) Cap B3, Laws of the Federation 2004.
“I, Godwin Ifeanyi Emefiele, Governor of the Central Bank of Nigeria, in exercise of the powers conferred on the Central Bank of Nigeria under Sections 60 and 62 of BOFIA, CAP B3, Laws of the Federation of Nigeria, 2004 hereby revoke the licenses of the payment service providers listed in Schedule I and the switch licence of payment services providers listed in Schedule II attached hereto.” the gazette reads.
The bank recently revoked the operating licences of 42 microfinance banks (MFBs) in the country.
