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Nairaland Forum / Nairaland / General / Business / NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now (18423 Views)
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NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by FreeStuffsNG: 3:54am On Dec 07, 2023 |
Unpacking the NIBSS Circular — What Fintechs Need to Know Now Usman Abiola NIBSS released a circular that has been making the rounds this week. There’s been a lot of speculation regarding this particular circular on the interwebs and office corners in the fintech industry. This has led to lots of questions: By Usman Abiola 20 Likes 2 Shares
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Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by FreeStuffsNG: 3:54am On Dec 07, 2023 |
About 32 financial institutions with either super agent, switching company or payment solution service provider (PSSP) licenses will be delisted with immediate effect from the NIBSS NIP (NIBSS Instant Payments) list. The order to delist is with immediate effect and you will not see some of them any more when you want to do outflow from your own bank account. Why? this brilliant policy by the Asiwaju Tinubu-led administration of brilliant, competent and patriotic Nigerians serves the fundamental purpose of safeguarding customer funds by entrusting them to entities duly licensed and certified to handle such transactions. This policy has the potential to stop the hacking and stealing of huge multibillion naira funds from accounts of innocent bank customers of the DMBs like Access bank, Fidelity bank etc then moving them into those fintechs that don't use NUBAN first before dissipating. You can now only move funds out from those fintechs, you can no longer receive outflows from banks until you collaborate with those with the license to accept deposits. Great job by NIBSS. May God bless Nigeria for ever! Check my signature for free stuffs! 11 Likes
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Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Haydens: 9:30am On Dec 07, 2023 |
F.T.C I dedicate it to my Man U fans. 13 Likes 1 Share
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Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by paranorman(m): 9:31am On Dec 07, 2023 |
Chai! |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by cutedharmee: 9:31am On Dec 07, 2023 |
It is well 1 Like |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by halaqasa: 9:31am On Dec 07, 2023 |
Make Fintechs just settle 5 Likes 1 Share |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by 1Alex: 9:33am On Dec 07, 2023 |
Ok |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Xwizard: 9:35am On Dec 07, 2023 |
anyway I will still blame apc 10 Likes |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by lavylilly: 9:35am On Dec 07, 2023 |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Mayor21(m): 9:36am On Dec 07, 2023 |
So that means I can't recieve transfer from my Opay anymore especially from banks like UBA, Zenith, GTB e.t.c But I can send out money from my Opay to any bank?....hmmmm 1 Like 3 Shares |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by baike: 9:37am On Dec 07, 2023 |
Ok |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by kingphilip(m): 9:39am On Dec 07, 2023 |
Ladened with too many jargons for me to understand. In clearer terms, can someone break it down for us? 34 Likes 1 Share |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by inoki247: 9:39am On Dec 07, 2023 |
Eh eh I no understand so dem Opay and Kuda is gone or what ... Because I don't understand anything up dere.... 1 Like |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by money121(m): 9:40am On Dec 07, 2023 |
Ok |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by BigBlackPreek(m): 9:41am On Dec 07, 2023 |
okay o |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by GreyBlood: 9:42am On Dec 07, 2023 |
FreeStuffsNG:So, this means those rogue Police officers that force innocent citizens to transfer money to the likes of Moniepoint or Opay won't work again? That's good news actually. 6 Likes |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Nobody: 9:42am On Dec 07, 2023 |
A good way to control illicit wealth and safeguard the people's money. I hope it won't backfire at the long run... 2 Likes |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by AntiChristian: 9:43am On Dec 07, 2023 |
1 Like |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by femu(m): 9:43am On Dec 07, 2023 |
Mayor21: Opay is under Blue ridge Microfinance Bank which is affiliated with Zenith bank 32 Likes 1 Share |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by AntiChristian: 9:46am On Dec 07, 2023 |
FreeStuffsNG: One bottle of jailed Amstel low sugar for you! 5 Likes 1 Share |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by ClearFlair: 9:47am On Dec 07, 2023 |
Confusion. Expect slow transactions that will slow down business 1 Like |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by jojothaiv(m): 9:47am On Dec 07, 2023 |
We will see how it goes. 1 Like |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Olichoke: 9:51am On Dec 07, 2023 |
What are you saying please? 4 Likes 1 Share |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by vastolord4(m): 9:51am On Dec 07, 2023 |
Haydens: Thank you 1 Like |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Haydens: 9:51am On Dec 07, 2023 |
vastolord4: 🤝🤝 you're welcome. |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by nairalanduser23: 9:59am On Dec 07, 2023 |
Where is the list of the 32 fintechs? 5 Likes |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by seunlayi(m): 10:00am On Dec 07, 2023 |
These banks want to kill FinTechs ! FinTechs have made banking easier and people. Fintech that Tinubu promised to boost. Opay is with Blue ridge Microfinance Bank under Zenith bank. Can't imagine the number of businesses including POS operators that will go down. 4 Likes 2 Shares
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Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by flexyrule(m): 10:07am On Dec 07, 2023 |
Wow |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Siberia01(m): 10:08am On Dec 07, 2023 |
So it actually means I can't fund my sporty or what |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by BadMaster: 10:08am On Dec 07, 2023 |
Freestuffsng, kindly list out the 32 entities affected |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by Pharaoh4rin(m): 10:11am On Dec 07, 2023 |
FreeStuffsNG: Be speaking English. You think hacking and other fraudulent acts are sole practice of fintechs? Conventional banks are worst off 3 Likes |
Re: NIBSS Circular To Delist Financial Institutions— What Fintechs Need To Know Now by funshint(m): 10:11am On Dec 07, 2023 |
This story too long jare....which microfinance banks are they talking about? let's know. 1 Like |
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