Central Bank of Nigeria fines Paystack ₦250 million for unlicensed wallet operations
Paystack issued regulatory fine affecting Central Bank of Nigeria on April 1, 2025.
- Primary
- Paystack
- Counterparty
- Central Bank of Nigeria
- Amount
- $2M
- Structure
- regulatory fine
- Date
- April 1, 2025
- Sub-sector
- Payments
CBN enforcement action revealed regulatory gap between payments and wallet licenses, forcing Paystack to restructure Zap product and accelerate bank acquisition strategy.
Source: techcabal.com