Dipo Olowookere
By Dipo Olowookere
Some hours ago, news went viral that the Nigeria Inter-Bank Settlement System (NIBSS) Plc has directed Deposit Money Banks (DMBs) to take down all non-deposit financial institutions from their NIBSS Instant Payment (NIP) platform because they are not authorised to hold customers’ funds.
The circular, which was dated Tuesday, December 5, 2023, has generated mixed reactions as a few media platforms, excluding Business Post, listed some mobile money operators (MMOs) like Opay, PalmPay, and others are part of the financial technology (fintech) firms affected by the directive.
In the disclosure sighted by this newspaper, the NIBSS specifically said those not licensed to accept deposits are Super Agents, Switching Companies, and Payment Solution Service Providers (PSSPs).
A look at the website of the Central Bank of Nigeria (CBN) showed that 47 companies were issued licences by the CBN to operate as Super Agents, 75 firms were authorised by the apex bank to function as PSSPs, and 16 fintechs have the Switching and Processing licence.
Below is the full list, as obtained from the CBN, of the three categories of fintechs affected by the NIBSS directive;
SWITCHING & PROCESSING LICENCE CATEGORY
| S/NO | LICENCEE |
|---|---|
| 1. | Appzone Limited |
| 2. | Arca Payments Company Limited |
| 3. | Chamswitch Limited |
| 4. | Coralpay Technology Nigeria Limited |
| 5. | eTranzact International Limited |
| 6. | Flutterwave Technology Solutions Limited |
| 7. | Habaripay Limited |
| 8. | Hydrogen Payment Services Limited |
| 9. | Interswitch Limited |
| 10. | Network International |
| 11. | Paystack Payment Limited |
| 12. | Remita Payment Service Limited |
| 13. | Teamapt Limited |
| 14. | Terra Switching & Processing Company Limited |
| 15. | Unified Payment Services Limited |
| 16. | Xpress Payments Solution Limited |
i. PAYMENT SOLUTION SERVICE PROVIDER (PSSP) AUTHORISATION
| S/NO | LICENCEE |
|---|---|
| 1. | Afara Partners Limited |
| 2. | Angala Financial Technologies Limited |
| 3. | Appmart Integrated Limited |
| 4. | Appzone Limited |
| 5. | Artha Fintech Limited |
| 6. | Betastack Technology Limited |
| 7. | Bud Infrastructure Limited |
| 8. | Callphone Limited |
| 9. | Capricorn Digital Limited |
| 10. | CBI Technologies Ltd |
| 11. | Cellulant Nigeria Limited |
| 12. | Centric Gateway Limited |
| 13. | Ceviant Payments Nigeria Limited |
| 14. | Clane Company Nig. Ltd. |
| 15. | Cyberspace Limited |
| 16. | Demerge Nigeria Limited |
| 17. | Dot Financial Inclusion Technologies Limited |
| 18. | Easypay International Limited |
| 19. | Egole Pay Limited |
| 20. | Ercas Integrated Solutions Limited |
| 21. | E-Settlement Limited |
| 22. | Eyowo Integrated Payments Limited |
| 23. | Fincra Technologies Limited |
| 24. | Flutterwave Technology Solutions Limited |
| 25. | Fountain Payment Systems Solution |
| 26. | Gemspay Limited |
| 27. | Global Accelerex Limited |
| 28. | Gpay Instant Solution Limited |
| 29. | GTP Client Services Limited |
| 30. | Hellopay Africa Integrated Service Ltd. |
| 31 | ICAD Concord Limited |
| 32 | Infiniti Segments Limited |
| 33. | Irecharge Technology Innovations Limited |
| 34. | Irofit Technologies LimitedD |
| 35. | Itex Integrated Services Limited |
| 36. | Konetpay Nigeria Limited |
| 37. | Kora Payments |
| 38. | Leadremit Limited |
| 39. | Moneta Technology Ltd |
| 40. | Multigate Payment Limited |
| 41. | Netapps Technologies Limited |
| 42. | Netplusdotcom Nigeria Limited |
| 43. | Nomba Financial Services Limited (Formerly Cosmic Intelligence Lab Limited) |
| 44. | One Payment Limited |
| 45. | Onepipe.Io Services Ltd |
| 46. | Parkway Projects Limited |
| 47. | Payfixy Nigeria Limited (Formerly Innovate 1 Pay Limited) |
| 48. | Paylode Services Limited |
| 49. | Paysure Technologies Limited |
| 50. | Payu Payments Nigeria Limited |
| 51. | Pethahiah Rehoboth International Limited |
| 52. | Prophius Limited |
| 53. | Qrios Networks Limited |
| 54. | Redtech Limited |
| 55. | Resident Fintech Limited |
| 56. | Rexel Limited |
| 57. | Routepay Fintech Limited |
| 58. | Saanapay Corporate Investments Management Limited (SAANACORP) |
| 59. | Shago Payments Ltd |
| 60. | Simplify International Synergy Limited |
| 61. | Soft Alliance & Resources Limited |
| 62. | Spay Business Solutions Limited |
| 63. | Spout Payment Solutions |
| 64. | Stanbic Financial Services Limited |
| 65. | Swift Link-NZ Global Services Ltd. |
| 66. | Teinnovate Capital Limited |
| 67. | Unlimint Nigeria Ltd |
| 68. | Upperlink Limited |
| 69. | Vas2net Technologies Ltd |
| 70. | Venture Garden Nigeria Limited |
| 71. | Vestrapay Nigeria Limited |
| 72. | Voguepay Web Solution Limited |
| 73. | Waxed Mobile Nigeria Ltd |
| 74. | Waya Multilinks Technologies Limited |
| 75. | Woven Finance Limited |
SUPER-AGENT AUTHORISATION
| S/NO | LICENCEE |
|---|---|
| 1. | 3Line Card Management |
| 2. | 5554 Technologies Limited |
| 3. | Accelerex Networks Limited |
| 4. | Africa Mama Atm Limited |
| 5. | Africave Technologies Limited |
| 6. | Airtel Mobile Commerce Nigeria Limited (Airtel) |
| 7. | Allstream Information Technology Solutions Limited |
| 8. | Angala Financial Technologies Limited |
| 9. | Appmart Integrated Limited |
| 10. | ATN Wayya Limited |
| 11. | Betastack Technology Limited |
| 12. | C24 Limited |
| 13. | Callphone Limited |
| 14. | Capricorn Digital Limited |
| 15. | CBI Technologies Ltd |
| 16 | Cicoserve Payments Limited |
| 17. | Citiserve Limited |
| 18. | Clane Company Nig. Ltd. |
| 19. | Connectpoint Technology Solutions Limited. |
| 20. | Crowd Force Limited (Formerly Mobile Forms Limited). |
| 21. | Dot Financial Inclusion Technologies Limited. |
| 22. | Egole Pay Limited. |
| 23. | Errand P Limited. |
| 24. | E-Settlement Limited. |
| 25. | Fountain Payment Systems Solution. |
| 26. | Fucil Datatech Limited. |
| 27. | Gwills Payments Service Limited. |
| 28. | Infibranches Technology Limited. |
| 29. | Innovectives Limited. |
| 30. | Interswitch Financial Inclusion Services Limited. |
| 31. | Irofit Technologies Limited. |
| 32. | Itex Integrated Services Limited. |
| 33. | Kadick Integrated Limited. |
| 34. | Lukeport Nigeria Limited. |
| 35. | Microsystems Investment And Development Limited. |
| 36. | Moneymaster Limited. |
| 37. | Nigerian Postal Service (NIPOST) . |
| 38. | Nomba Financial Services Limited (Formerly Cosmic Intelligence Lab Limited) |
| 39. | Paycluster Technology Limited. |
| 40. | Paygo Limited. |
| 41. | Shago Payments Ltd. |
| 42. | Spout Payment Solutions. |
| 43. | Swift Link-Nz Global Services Ltd.. |
| 44. | Traction Payments Ltd.. |
| 45. | Vatebra Pay Limited.. |
| 46. | Waxed Mobile Nigeria Ltd.. |
| 47. | Y’ello Digital Financial Services.. |
