Fraud: CBN denies suspending OPAY, PALMPAY accounts

The Central Bank of Nigeria, CBN has dismissed the claim that it has stopped accounts of some Fintech companies such as OPAY and PALMPAY from functioning.

While reacting to the claim which has gone viral on social media platforms, the apex bank described it as untrue.

This was revealed by the Acting Director, of Corporate Communications of CBN, Isa AbdulMumin, in Abuja describing the viral report as “simply fake’’.

The spokesperson of the apex bank said the mother of all Nigerian banks was about to suspend the accounts of Fintech companies because people were making use of them to defraud innocent members of the public.

The report which went viral on social media partly reads: “Please if you are using OPAY, PALMPAY or any of these CHINA APPs or their POS, stop keeping much money in the account or stop using it.

“The CBN is about suspending their accounts because these apps are being used to perpetrate fraud.”

In a similar vein, OPAY and PALMPAY had separately made use of the social media to dismiss the claim.

According to OPAY: “the post mentioning the CBN shutting down our operations is false and misleading to the general public.”

While the PALMPAY revealed that “We are aware of news currently being spread on social media about CBN shutting down the operations of PALMPAY.”