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Obinna Chima
The Central Bank of Nigeria (CBN) has revoked the operating licences of seven payment service providers and one payment switching firm.
The affected firms are Easifuel Limited, Transaction Processing System (TPS), Grand Towers Limited, Paymaster Limited, E-Revenue Gateway Limited, Eartholeum Network Limited and Globasure Limited.
Also, the payment switch licence of 3Line Card Management Limited was revoked.
The CBN, in an official gazette signed by its Governor, Mr. Godwin Emefiele, a copy of which was posted on its website yesterday, said the decision was taken because the seven firms ceased to carry on, in Nigeria, the type of business for which their licences were issued, for a continuous period of six months.
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