A financial technology organisation, Connect Point Technology Solutions Limited has announced the receipt of regulatory approval to operate a payment solutions service (PSS) License category.

In a letter dated April 25, 2022 and signed by the Director, Payments System Management Department, of the Central Bank of Nigeria (CBN), the Approval-in-Principle (AIP) allows the organisation to operate a PSS license category as a Super-Agent in Nigeria.

The organisation acknowledges that this is the first step in the process towards the issuance of a final approval, subject to the fulfilment of conditions stipulated by CBN in the letter. Recognizing that it is within the rights of CBN to issue the final approval, Connect Point would focus on ensuring that its activities meet the stipulated conditions for that final approval.

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Connect Point Technology Solutions has a mission of leveraging technology in providing reliable payment services through agent banking and retail solutions, while meeting the need of every customer.

Its products are designed to promote financial inclusion in Nigeria and across Africa.

Modestus Anaesoronye is a leading Nigerian financial journalist with over two decades of experience reporting on the insurance and pension sectors across Nigeria and West Africa. He has held key editorial positions at major national media outlets, including The Comet, The Nation, and Financial Standard, and currently serves as a Senior Financial Analyst at BusinessDay Media Ltd. A widely travelled reporter, he has covered industry developments in more than 14 countries across Africa and Asia. Anaesoronye is a multiple award-winning journalist, honoured several times as Insurance Journalist of the Year and Pension Journalist of the Year by recognised industry bodies, including PensionScope and the Pension Fund Operators Association of Nigeria (PenOp), among others.

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