ABUJA (Sundiata Post) – Kayi Microfinance Bank Ltd has said that the licence it got from the Central Bank of Nigeria (CBN) allows it to keep customers’ deposits and offer full banking services to the public.
In a statement made available to Sundiata Post on Friday, Saadina H. Dantata, chairman of the bank said the clarification became necessary in view of the circular by the Nigeria Inter-Bank Settlement System (NIBSS) Plc to Deposit Money Banks to yank off all financial institutions not licenced to hold customers’ funds from their NIBSS Instant Payment (NIP) outwards platforms.
The full statement reads:
General Notice to our esteemed Customers on NIBSS Circular on Permissible Services and Products of PSSP Operation in Nigeria of December 5th 2023.
Kayi is pleased to confirm that it has a Tier 1 Microfinance Bank license from the Central Bank of Nigeria, which allows it to hold customer deposits and offer a full scope of banking services to the public. Hence, Kayi is not affected by the circular.
Additionally, Kayi is pleased to confirm 95% of NIBSS integration and finalising the total overhaul of its product and the subsequent release of our world class super app, KayiApp to both the Google Play Store and Apple App Store by the end of next week.
Kayi remains committed to fulfilling its promise of banking without limits to its esteemed customers.
Saadina H. Dantata
