PalmPay resumes onboarding of new customers as CBN lifts embargo

By Chinenye Anuforo

Financial technology company, PalmPay, has resumed onboarding new individual and business users as the Central Bank of Nigeria (CBN) has lifted embargo on it. This move highlights PalmPay’s commitment to providing secure and reliable financial services to Nigerians.

“We are thrilled to continue our mission of financial inclusion for Nigerians,” said Chika Nwosu, Managing Director of PalmPay Nigeria.

He added that the recent regulations implemented by the CBN are positive steps towards solidifying the fintech landscape in Nigeria.

Nwosu emphasised PalmPay’s unwavering support for the CBN’s efforts to strengthen the fintech sector. These regulations aim to enhance consumer protection and ensure the stability of the financial system.

“We believe these regulations will ultimately benefit the entire ecosystem,” Nwosu added. “PalmPay remains committed to complying with all regulatory requirements.”

He acknowledged the challenges of operating in Nigeria’s business environment. However, he expressed optimism about the growing adoption of PalmPay’s app and digital payment solutions. He reassured customers that PalmPay prioritizes a seamless user experience.

“Our focus is on providing a user-friendly platform for secure and convenient transactions,” Nwosu stated.