Why will they close and not settle clients payment.

This is BULLSHIT.

Is anybody also experiencing this issues.

you mean they shutdown business?

a side note: there is this new policy that requires banks to compel both new and old business accounts to get TIN
while this is now a must to get any account opened, already registered businesses are not been threaten to acquire TIN by these banks
You know why?
It is called business, and with every business, The customer is King and will be very wise to stay safe and not do things that will amount to chasing customers away.

on the other hand, When you contact most Nigerian new businesses and present them with your business aim
and even in situations where they stand to lose nothing, they just put you off with "self-created" policies that wont yield profit.

I recently contacted one of these new payment companies to have our accounts with them consolidated in a bid to promote our parent company. even when we offered to meet all their requirements, They simply turned us down.
I was expecting to hear them ask us to bind the shoppers to the other company through a site agreement which they will need to accept before proceeding.
reason for rejection: they are 2 different companies

Same goes for Nairaland Ads, the first public announcement of the ad was very strict.
so i think over time, Seun learnt some things
So the New Dynamic Ad System was designed with customer-satisfaction at it's core, which means, relaxing most of the stringent rules.

Don't the people have an office? consider going there.

Did they send out a mail that they've shut down? I don't think they've shutdown, it may be one of their many downtimes or problems and as usual they are so arrogant to communicate issues to their customers leaving them with varying speculations on the matter. Well if they have shutdown, it won't be a surprise. They lack vision and basic know-hows on running a successful business model beyond the first 2-3 years.

Wishing you the best on a company whose domain name is expiring a month from now (Nov 24, 2013) and have seen no need to add more years. This alone is a red flag for a website dealing with finances.

Its a shame.

Softcom Imagio, consider leaving the IT scene and go into something less tasking like car wash. When you can't wash people's cars well they'll just have to drive further down Allen Ave. to another wash spot, no money lost no heart aches. You're turning to serial IT business killers, from RNG to Eyowo.

Settle your merchants!