CBN approves cellulant Nigeria as payment service provider

CBN building

Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria Limited to operate as a Payment Solution Service Provider (PSSP) in Nigeria.

According to a statement issued by the firm, this approval makes Cellulant one of the PSSPs in the country.

PSSPs are the companies that make up the underlying e-Payment infrastructure in Nigeria.

Banks, online merchants, payment processors, merchants, state-governments and consumers connect to PSSPs to meet their electronic payment needs.

Cellulant is the provider of the Tingg Payment Service & AgriKore Customer Relationship Management (CRM) service that is used by the governments, private sector companies, farmers, merchants in Nigeria & the rest of Africa, Asia to ensure end-to-end electronic payments in Agriculture and other consumer facing value chains.

Mr. Bolaji Akinboro, co-founder and chief executive officer of Cellulant Nigeria, stated that this approval will enable the company to extend its payment solutions across all spectrum of Nigeria’s payment system ecosystem.

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