Liberty Pay Gets Approval In Principle from CBN to Operate as Payment Solution Service Provider

The Central Bank of Nigeria (CBN) has granted Liberty Pay an Approval In Principle (AIP) as a Payment Solution Service Provider Super-Agent.

The AIP given to Liberty Pay is at a step of being a full commercial license CBN Payment Solution Super-Agent to carry out payment services around wallet creation and management, USSD, agent recruitment and management, and any other activities as permitted by the CBN.

The Liberty Group Chairman, Mr. Otimeyin Igbene, said that the company would be providing direct access to all its products and services using a multiplicity of channels.

Igbene said that the company has commenced working with the CBN to meet the conditions for receiving a full operating commercial license.

Igbene mentioned that the business entity would enhance connections between trade parties in the payment sector and lead the innovation of digital payment in a changing world of business.

"Our core objective is to deliver seamless service and safe harbor to our clients in a transitional way so that digital payments are made easy for our clients. No doubt, technology, and trends today change at breakneck speed," Igbene said.

"Our clients are assured of consistency, reliability and safety of their transactions with the use of the best global industry technology practice. We are making digital payment service delivery available to all and sundry irrespective of their level of exposure, technological capacity and so on."

(Source: The Guardian)