Full List of PSSPs, Others NIBSS Ordered Banks to Remove from Transfer List

Image

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..
Share
Related Stories
Image
10-February-2024

NIBSS Suffers Downtime, Affects Interbank Transfers

By Aduragbemi Omiyale There are strong indications that the instant payment transfer channel of the Nigeria Inter-Bank Settlement System (NIBSS) Plc is currently down. This has reportedly led to the difficulty experienced by banking customers in sending funds to other bank users. It was gathered that the issue started on Saturday, and as of the time of filing this report, it was yet to be resolved. The NIBSS has yet to issue a statement to allay customersfears over their inability to send money to people using banks different from theirs. The situation has created panic among bank users, who are

Image
13-February-2024

Tunisia Joins Nigeria, Others to Adopt PAPSS

By Adedapo Adesanya Tunisia, through its central bank, Banque Centrale de Tunisie (BCT), has joined the Pan African Payment and Settlement System (PAPSS), making it the first North African country and 13th country to be boarded on the platform. PAPSS, developed by the African Export-Import Bank (Afreximbank) in collaboration with the African Union (AU) and the African Continental Free Trade Area (AfCFTA) Secretariat, facilitates real-time settlement of intra-African trade and payments, in African currencies, across the continent. The platform unites central banks from across Africa and seeks to address the existing challenges faced by African businesses and individuals in accessing

Image
18-January-2024

Ecobank Group Unveils New Brand Campaign

By Modupe Gbadeyanka A new brand campaign known as A Better Way | A Better Africa has been unveiled by Ecobank Group, the leading pan-African financial services group. It was launched by the bank at the ongoing TotalEnergies CAF Africa Cup of Nations Côte d’Ivoire 2023 (AFCON) co-sponsored by Ecobank. It is to leverage the unifying, exhilarating, and progressive spirit of African football to demonstrate its commitment to the continent’s sustainable growth. The campaign highlights Ecobank’s drive to empower its clients and customers to achieve their goals for a better future and therefore a better Africa. The company said the

Image
21-February-2024

FG to Restructure, Recapitalise Bank of Agriculture for Better Value

By Adedapo Adesanya The federal government has revealed plans to recapitalise and restructure the Bank of Agriculture (BOA) to bolster Nigeria’s agricultural sector and achieve national food security. This was one of the core revelations made by the Vice President, Mr Kashim Shettima, during the first meeting of the National Council on Privatisation (NCP) for the year 2024 at the Presidential Villa, Abuja on Tuesday. He said there is a central role that BOA could play in achieving national food security, citing its extensive branch network across all senatorial districts in the country. Mr Shettima, however, expressed concern about the

More Stories
Image
30-November-2016

Naira Settled Currency Futures Open Interest Report @ November 28, 2016

By Quantitative Financial Analytics NIFEX Spot The FMDQ NIFEX Spot gained increased by 0.08% or N0.25 to end the day at N315.125 against the previous day’s close of N314.875 as the Naira continues to struggle against the Dollar. Open Interest and Volume Analysis Open interest in currency futures increased by 1.01% from 3,625.9 to 3,662.43 following additional notional purchases of $36.53 million involving 5 of the 12 currency futures. Mark to Market Analysis and Attribution Mark to Market increased by N2.52 billion or 1.22% as the estimated Mark to Market (MTM) of open interest now stands at N209.99 billion, against

Image
23-May-2019

Stock Market Gains N408bn as MTN Nigeria Listing Frenzy Persists

By Dipo Olowookere Transactions on the floor of the Nigerian Stock Exchange (NSE) maintained its upward momentum on Wednesday, appreciating by 3.07 percent to reduce the year-to-date loss to 0.91 percent. Business Post reports that the local bourse recorded a gain of N408 billion yesterday despite the losses printed by some large cap stocks like GTBank, Zenith Bank, Nestle Nigeria and others. It was observed that the positive drive was influenced by the continued hype around the listing of MTN Nigeria last Thursday as the demand for the stock grows by the day. At the close of the midweek trading

Image
21-January-2022

2023: North Central, PDP and the Coming Victory

By Jerome-Mario Chijioke Utomi History does matter and has shown clearly that ordinary calculation can be upturned by extraordinary personalities. Working under this assumption, it will not be considered an overstatement to conclude that the People Democratic Party (PDP) is set to upturn the present political calculation in Nigeria. For the sake of clarity, it is important to underline that the above assertion is not anchored on, or a function of the below-average performance of the current federal government which daily manifests in areas such as; ‘continued state of insecurity in the country, the persistent and ceaseless flow of Nigerians

Image
06-September-2018

Organisers Fix 24th Yiwu Fair for October

By Modupe Gbadeyanka The 24th China Yiwu International Commodities (Standardization) Fair (Yiwu Fair), formerly China Yiwu International Commodities Fair, will be held in Yiwu City of Eastern China’s Zhejiang Province on October 21-25, 2018, organisers have said. Yiwu Fair is China’s biggest and most influential daily necessities expo and one of the three export expos organized by China’s Ministry of Commerce. Starting this year, Yiwu Fair will focus on enhancing international exchange and cooperation on standardization, helping export Chinese standards and introduce international standards. In 2017, Yiwu Fair innovatively combined the theme of standardization with the fair and launched a

Image
29-July-2023

FrieslandCampina, Two Others Lift Unlisted Securities Market by 0.78%

By Adedapo Adesanya The NASD Over-the-Counter (OTC) Securities Exchange ended the last trading session of the week on a positive note as it gained 0.78 per cent on Friday, July 28. Data showed that the value of the unlisted securities market grew by N8.34 billion to settle at N1.078 trillion from the N1.069 trillion it quoted at the previous session, while the NASD Unlisted Securities Index (NSI) appreciated by 6.04 points to end the day at 778.96 points as against 772.92 points it recorded at the previous session. The bullishness came as three securities –FrieslandCampina WAMCO Nigeria Plc, Central Securities

Image
10-May-2017

Moody’s: Nigerian Banking System Still on Stable Outlook as Forex Crisis Eases

By Modupe Gbadeyanka The stable outlook on the Nigerian banking system by Moody’s Investors Service has been maintained as the Nigerian government continue to find solutions to the Dollar shortages that have affected the economy. A statement issued by the global rating agency on Wednesday said Nigerian banks should have sufficient capital to absorb expected losses, though it expects system-wide tangible common equity (TCE) to only decline slightly to 14.1 percent of adjusted risk-weighted assets by year-end 2018 from 14.7% at the end of 2016. The slight shift, Moody’s explained, is primarily due to increased loan-loss provisions and the effect

Image
25-November-2016

Recession: Tax Relief For Manufacturers

By Modupe Gbadeyanka Minister of Finance, Mrs Kemi Adeosun, has revealed that a tax relief is being planned for the manufacturing sector in the country. Mrs Adeosun, while addressing journalists in Abuja on Wednesday, explained that the move was to ease the burden of the current economic recession on the sector by the Federal Government. She further explained that the tax relief was part of measures by the government to reduce the negative impact of the foreign exchange crisis on the sector. Mrs Adeosun, speaking at the end of the Federation Account Allocation Committee meeting, noted that based on the

Image
15-June-2019

NSE: Equities Gain 0.06% to Halt 8 Consecutive Losses

By Dipo Olowookere The eight straight losing streaks on the floor of the Nigerian Stock Exchange (NSE) came to an abrupt end on Friday after the market marginally gained 0.06 percent. It was observed that the uptrend was influenced by gains recorded by some large-cap stocks on the local bourse, led by Forte Oil and Dangote Cement. The All-Share Index (ASI), which closed the previous session at 30,029.15 points, went up by 17.55 points to finish at 30,046.70 points. Similarly, the market capitalisation, which ended on Thursday at N13.225 trillion, appreciated by N8 billion to settle at N13.233 trillion. A

Ad
Ad
Recent Stories
Image
22-February-2024

Lagos Plans Daily Free Meal for Residents, Markets for Cheap Food Items

By Modupe Gbadeyanka About 1,500 residents of Lagos State will have access to one free meal per day to cushion the effect of the economic hardship in the country, Governor Babajide Sanwo-Olu has declared. Mr Sanwo-Olu, while answering questions from journalists during a media chat on Thursday, said his administration would establish at least 42 Sunday Markets across the metropolis for cheap food items, though the commencement of this initiative is yet to be revealed. There has been a pocket of demonstrations across the country over the rising hunger in Nigeria as a result of high inflation and the devaluation

Image
22-February-2024

WINBAFRICA Plans Big for 10th Anniversary

By Modupe Gbadeyanka All is now set for the 10th anniversary of WINBAFRICA themed Bridging the Gap: Celebrating a Decade of Nation-building. The organisation is gathering stakeholders together on Monday, February 26, 2024, for the event at the Alliance Francaise in Ikoyi, Lagos. The group was formed in 2014 and has since then promoted girl-child education and empowered women and young girls in critical thinking and leadership skills in secondary schools across Africa. As part of activities lined up for this year’s celebration, WINBAFRICA organised an annual school debate competition and scholarship programme for 20 young girls across the continent.

Image
22-February-2024

Nigeria Posts 2.74% GDP Growth in 2023

By Adedapo Adesanya Nigeria’s economy grew by 2.74 per cent in 2023, lower than the 3.1 per cent posted in 2022. This was disclosed by the National Bureau of Statistics (NBS) in its latest Nigeria Gross Domestic Product Q4 2023 Report released on Thursday. While the country’s economic growth was lower than the preceding year, it grew by 3.46 per cent (year-on-year) in real terms in the fourth quarter of 2023. This growth rate is lower than the 3.52 per cent recorded in the fourth quarter of 2022 and higher than the third quarter of 2023 growth of 2.54 per

Image
22-February-2024

Nashaira Belisa Takes Project OMI to Lagos Orphanage, School

By Adedapo Adesanya  Miss World Curacao 2024, and Curaçao’s delegate to Miss World 2024 in India, Miss Nashaira Belisa, an influential humanitarian and businesswoman, has launched PROJECT OMI. OMI, meaning water in the Yoruba Language, is a transformative initiative focused on addressing the critical need for clean water in orphanages and communities across Nigeria and Ghana. She is using this initiative to change the world, one drop of water at a time. The project, aptly named OMI, is a testament to Belisa’s commitment to making a lasting impact beyond the realm of beauty pageantry. Belisa’s dedication to clean water accessibility

Image
22-February-2024

Senate Confirms Cardoso, Yuguda, 10 Others as CBN MPC Members

By Adedapo Adesanya The Senate has confirmed the appointment of 12 persons as members of the Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) ahead of next week’s eagerly awaited interest rate-setting meeting. This confirmation comes after a report of the Committee on Banking, Insurance and other Financial Institutions was considered during plenary on Thursday. The confirmation of the new MPC members comes days before the first policy meeting of the apex bank under the new CBN governor, Mr Olayemi Cardoso, who by his position will be the chairman of the committee. The meeting has been slated

Image
22-February-2024

Purple Real Estate Welcomes Umar, Oladimeji to Board

By Adedapo Adesanya Nigerian real estate platform, Purple Real Estate Income Plc, has made significant changes to its board, marking a pivotal moment in the company’s growth strategy amid current macro headwinds. The reshuffle brings on Mr Aminu Umar and Mr Olasunkanmi Oladimeji to join the board as Non-Executive Director and Executive Director. The duo of Mr Umar and Mr Oladimeji will take over from Mrs Osareme Archibong and Mrs Fiona Ahimie, both outgoing Independent Non-Executive Directors, according to notice on NASD OTC Securities Exchange, where the company trades its securities. Commenting on the changes, the Chairman of the board,

Image
22-February-2024

AFCON 2023: Nigerian Content Creators See 200% Rise in Revenue, Views

By Adedapo Adesanya Content creators in Nigeria saw a 200 per cent increase in views and revenue between December 2023 and February 2024, a new study shared with Business Post showed. According to new data released by StarNews Mobile, an African video streaming platform, content creators across Africa experienced a 300 per cent surge in revenues during the 2023 Africa Cup of Nations (AFCON) held between January 13 and February 11, 2024, reaffirming the massive surge in consumption of hyper-localized content from the continent. Based on metrics from StarNews Mobile’s platform, creators in Nigeria were only outshone by their peers

Image
22-February-2024

Two Die, 15 Rescued in Ikoyi-Lekki Link Bridge Boat Mishap

By Modupe Gbadeyanka Two persons have been confirmed dead in a boat accident that occurred on Wednesday night at the Ikoyi-Lekki Link bridge in Lagos. The Lagos State Emergency Management Agency (LASEMA), which confirmed the incident, stated that 15 persons were rescued in the mishap. The agency stated that the boat, which was conveying 17 passengers, was heading to the Ikorodu area of the metropolis from its take-off point, Sandfil, when it capsized at the Powerline area of the popular bridge. It said the body of a female passenger, who drowned, was recovered, while the corpse of the male passenger

Image
22-February-2024

NPPAN Targets $10bn Contribution to Nigeria’s GDP via Palm Biomass

By Adedapo Adesanya The federal government will sign a Memorandum of Understanding (MoU) with the Malaysian government to develop palm biomass in the country as part of efforts to utilise one of the undertapped farm produces in the country. Mr Alphosus Inyang, President of the National Palm Produce Association of Nigeria (NPPAN), made this disclosure, saying palm biomass is a multi-billion dollar economy. “Biomass simply means agricultural waste and we are talking about turning waste into wealth,’’ he said in an interview with the News Agency of Nigeria (NAN) on Wednesday in Abuja. The president said NPPAN was working with

Image
22-February-2024

Salesforce Introduces Clean Energy Programme Management

By Modupe Gbadeyanka A new solution to help electric, gas, and water utilities increase customer participation in clean energy programmes has been introduced by Salesforce. The initiative known as Clean Energy Programme Management for Energy & Utilities Cloud streamlines the launch, management, and oversight of energy efficiency, conservation, electrification, and EV charging programs. It helps utilities manage clean energy initiatives with connected data — like energy usage and billing information — and personalised engagement to promote relevant programmes. This platform also digitises and simplifies the application process for customers, participating contractors, and utility program staff to help increase clean energy