Eyowo, a digital finance company, has announced that its customers can now access their funds through a partnership with ProvidusBank after completing the verification process.
This comes after Eyowo’s license was impacted by reforms implemented by the Central Bank of Nigeria (CBN) in May 2023, which led to the revocation of microfinance bank licenses.
Over the past nine months, Eyowo has been working tirelessly to meet the regulator’s requirements and ensure the safety of its customers’ funds. Through this partnership with ProvidusBank, Eyowo aims to prevent fraud and comply with regulations while restoring customer access to funds.
Acknowledging the support received from Providus Bank, the tech ecosystem, and others, Eyowo expressed gratitude for the assistance during this challenging period.
Despite the setback, Eyowo remains committed to its mission of providing intuitive financial services accessible to anyone with a smartphone.
The company emphasised the rapid evolution of both innovation and regulations in the digital finance sector, attributing its response to the CBN’s decision to its adaptability and commitment to compliance.
With its licence reinstated on an approval-in-principle basis, Eyowo has focused on restructuring its operations and systems over the past four months to prepare for a new phase of operations.
Eyowo highlighted its dedication to innovation and improving the customer experience, promising to continue pioneering new products and partnerships.
The company also took responsibility for the situation and expressed gratitude for its customers’ patience and cooperation throughout the process.
Looking ahead, Eyowo remains committed to enabling financial mobility and progress, especially for creators and entrepreneurs, as it moves forward into the future.
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