According to Reports, the claim that the CBN has shut down digital banks Opay, Kuda Bank, and PalmPay is untrue.

A statement issued by Opay, Kuda, and PalmPay on their social media accounts disputed the rumor, stating that there is no such thing.

A Twitter account is spreading the rumor:
Clients of digital banks have gone into panic mode following reports that the Central Bank of Nigeria, CBN, has ordered the immediate closure of Opay, Kuda, and other digital banks’ Lagos headquarters.

This comes at a time when many Nigerians have switched their financial transactions to Opay, Kuda, PalmPay, CowryWise, Risevest, and other digital banks.

The reason for the quick switch is due to transaction issues clients are having with traditional bank applications and ATMs...

Read More... https://9jawatchtower.com/is-the-cbn-shutting-down-opay-kuda-palmpay-and-other-online-banks-see-the-truth/

Cashless policy. No network.
No Fintech is trying to fill in the gap.
Thoughtless policy

Its very bad like am hearing Friday and Saturday will be bad no network😒🙄

But Nigeria's business ecosystem is not yet matured for cashless economy. Technically and educationally backward country with our open market system will only lead to mass closure of businesses if the cashless system is introduced at this point in time.

This is absolute frustration.

Only CBN can clarify this

Opay and Palmpay has released official statements to debunk this.

Opay is working fine
Keep up with the good work