Digital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Facebook X (Twitter) Instagram
Trending
  • Femi Soneye Steps Down As NNPCL Spokesperson
  • Nnaemeka Ani Urges African Tech Innovators To Build With Legacy In Mind
  • Empowering The Displaced: NITDA, NCFRMI Strengthen Alliance For Digital Inclusion
  • Nigeria’s Digital Future Gets Feminine Edge As NITDA Champions Women In AI
  • Nigeria Customs Warns Public Over Rising Online Scams Impersonating Officials
  • Nigeria Launches $11.2m Innovation Hub With Japanese Support To Drive Tech Growth
  • Access Holdings Reaffirms Financial Strength Amid CBN’s Regulatory Forbearance Directive
  • ALTON Clarifies New USSD Billing Policy, Confirms Direct Charges To Subscribers From June 18
Facebook X (Twitter) Instagram
Digital Times NigeriaDigital Times Nigeria
  • Home
  • Telecoms
    • Broadband
  • Business
    • Banking
    • Finance
  • Editorial
    • Opinion
    • Big Story
  • TechExtra
    • Fintech
    • Innovation
  • Interview
  • Media
    • Social
    • Broadcasting
Digital Times Nigeria
Home » CBN Grants Flutterwave Switching And Processing License
Fintech

CBN Grants Flutterwave Switching And Processing License

DigitalTimesNGBy DigitalTimesNG2 September 2022No Comments2 Mins Read3 Views
Facebook Twitter Pinterest Telegram LinkedIn Tumblr WhatsApp Email
CBN LATEST e1662119844871
FILE PHOTO: Central Bank of Nigeria's logo is seen on the headquarters building in Abuja, Nigeria January 22, 2018. REUTERS/Afolabi Sotunde/File Photo - RC1E81C7FA80
Share
Facebook Twitter LinkedIn Pinterest Telegram Email WhatsApp

Flutterwave, an African payments technology company has been granted a Switching and Processing License by the Central Bank of Nigeria (CBN)—widely regarded as CBN’s most valuable payments processing license.

Digital TimesNG understands that this license allows Flutterwave to offer transaction switching and card processing services to customers, and perform non-bank acquiring, agency banking and payment gateway services.

The Switching and Processing license allows Flutterwave to enable transactions between banks, fintech and other financial institutions.

The Company is also able to process card transactions, participate in agency banking and offer various payment services without any intermediary.

Prior to this license, Flutterwave operated with its Payment Solution Service Provider (PSSP) and International Money Transfer Operator (IMTO) licenses.

Flutterwave CEO and Founder, Olugbenga GB Agboola, said, “This is big news for our customers, partners, investors, and other stakeholders. It is an important milestone in our growth story.

“Building a thriving payments ecosystem in Nigeria, Africa’s largest economy, is in line with our goal of developing a world-class and secure payment infrastructure for global merchants and payment service providers across the continent.”

Flutterwave’s Chief Regulatory and Government Affairs Officer, Oluwabankole Falade, said, “We’re thrilled to have been issued this license after fulfilling all of the regulatory requirements. The application process was very rigorous and included a detailed review of our operations as a business.

“As a switch, we have more responsibilities and will continue to work with Regulators to ensure we meet and exceed their expectations.”

Onyedikachim Nwankwo, Head of Product Marketing, said, “The license will allow us to offer more services and explore more payment use cases for our ecosystem.

READ ALSO  Fintech: M-KOPA Raises $250m To Scale High-Impact Business Across Africa

“With this license, we can offer more value to our customers while taking more control of our value chain to enable an improved payments experience for our enterprise, medium scale and retail customers.”

The application and review process by the CBN was a tough and rigorous process that examined every aspect of Flutterwave’s business, including the company’s financial position.

 

#CBN #Flutterwave #Olugbenga GB Agboola #Switching And Processing License Fintech
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email
Previous ArticleTecnotree And MTN Nigeria Sign Deal For 5G Digital Transformation
Next Article Nigeria Records Over 50,000 Telecom Infrastructure Destruction In 5 Years
DigitalTimesNG
  • X (Twitter)

Related Posts

Access Holdings Reaffirms Financial Strength Amid CBN’s Regulatory Forbearance Directive

19 June 2025

The End User Billing (EUB) Model And Its Impact On Nigeria’s USSD Banking Landscape

12 June 2025

PalmPay Unveils ‘Passing The Baton’ CSR Initiative To Drive Financial Inclusion In Northern Nigeria

30 May 2025

BREAKING: KongaPay Makes Significant Stride, Secures Three ISO Certifications

7 May 2025

PalmPay Pushes For Contactless Payments At BusinessDay Conference

6 May 2025

Experts List Cornerstones For Meaningful Financial Inclusion In Nigeria At PAFON 2.0

22 April 2025

Comments are closed.

Categories
About
About

Digital Times Nigeria (www.digitaltimesng.com) is an online technology publication of Digital Times Media Services.

Facebook X (Twitter) Instagram
Latest Posts

Femi Soneye Steps Down As NNPCL Spokesperson

22 June 2025

Nnaemeka Ani Urges African Tech Innovators To Build With Legacy In Mind

22 June 2025

Empowering The Displaced: NITDA, NCFRMI Strengthen Alliance For Digital Inclusion

21 June 2025
Popular Posts

Building Explainable AI (XAI) Dashboards For Non-Technical Stakeholders

2 May 2022

Building Ethical AI Starts With People: How Gabriel Ayodele Is Engineering Trust Through Mentorship

8 January 2024

Gabriel Tosin Ayodele: Leading AI-Powered Innovation In Web3

8 November 2022
© 2025 Digital Times NG. Designed by Max Excellence LLC.
  • Advert Rate
  • Terms of Use
  • Advertisement
  • Private Policy
  • Contact Us

Type above and press Enter to search. Press Esc to cancel.