CBN To Delist Opay, Moniepoint, Kuda, Others? Tinubu’s Aide Reveals Fact

Dec 8, 2023 | Entertainment, News

  • President Bola Tinubu’s media aide, Dada Olusegun, has clarified the report that the CBN planned to delist Opay, Palmpay, Moniepoint, Kuda and other neo banks from the operation
  • According to the presidential aide, the report is totally fake and called on the public to seek clarification of government policies to avoid killing business
  • The CBN had earlier issued directives deposit money banks to place a “Post No Debit” on any account without BVN and NIN, a directive some considered will affect money transfer banks journalist Bada Yusuf is an accomplished politics and current affairs editor, boasting over seven years of experience in journalism and writing.

FCT, AbujaPresident Bola Tinubu’s special adviser for social media, Dada Olusegun, has debunked the report that the Central Bank of Nigeria (CBN) has threatened to delist money transfer banks, including Opay, Kuda, Moniepoints, from transfer channel.

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The presidential aide, in a tweet on Thursday, December 7, said that the report is totally fake while urging the public to desist from spreading disinformation because it could lead to panic and hurt businesses.

Opay/Palmpay/Moniepoints/Bola Tinubu/CBN/Presidency
Presidency dismisses report of delisting Opay, Palmpay, Moniepoint and others
Photo Credit: Dada Olusegun
Source: Twitter

Last week, the CBN ordered the deposit money banks (DMBs) to place a “Post No Debit (PND)’ on any accounts with the Bank Verification Number (BVN) and National Identity Number (NIN) from next year.

Why report of delisting Opay, Palmpay, Moniepoint, Kuda others is fake

For most neo banks, such as Opay, Palmpay, and Kuda, accounts are opened with just the phone numbers of users without the BVN, unlike the traditional banks. However, they cannot make transactions above N50,000 per day as Tier-1 users.

The CBN statement reads in part:

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“It is mandatory for ALL Tier-1 bank accounts and wallets for individuals to have BVN and/ or NIN,” adding that, it remains mandatory for Tiers 2 & 3 accounts and wallets for individual accounts to have BVN and NIN.”

However, some online report, not, had claimed that the apex bank planned to delist the neo banks, citing the above report of the CBN.

Tinubu’s aide clarifies report of delisting Opay, Palmpay, Kuda, Moniepoint

But Olusegun on Thursday urged members of the public to seek clarification on government policies to avoid spreading disinformation.

His tweet reads:

“The misinformation making rounds about Opay, Moniepoint, Kuda and many other banks being delisted as fund transfer channels is another reason why individuals should seek understanding of policies before making comments.”

See the tweet here:

House of Reps orders IGP to arrest CBN governor Cardoso earlier reported that the CBN Governor Olayemi Cardoso has been ordered to be arrested by the House of Representatives Committee on Public Petitions.

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The House also ordered the arrest of the accountant general of the federation, Oluwatoyin Madein, and 17 other CEOs of government agencies.

According to the lawmakers, Cardoso and 18 others have failed to honour their invitations for four times to give accounts of their stewardship in their respective positions.


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