Eyowo, a Nigerian fintech company, has successfully regained its full operating licence from the Central Bank of Nigeria (CBN). This development means Eyowo can now fully offer its services again, including digital banking, payment solutions, and financial management tools for both individuals and businesses.
The company had faced major challenges in 2023, with rumours of shutdowns. However, Eyowo clarified that it was shifting its focus to becoming a platform centred on “financial connectedness and intelligence.”
In March, the CBN had already given Eyowo preliminary approval to restore its Microfinance licence after the company met regulatory requirements. Eyowo partnered with ProvidusBank to ensure customer access to funds, enhancing safety, fraud prevention, and regulatory compliance.
CEO Yomi Adedeji acknowledged the difficulties with regulatory processes but assured stakeholders that they were close to resolving these issues. He avoided giving false hopes about the timeline for reactivating accounts.
Now, customers and investors are looking forward to more details on how Eyowo plans to overcome past challenges and strengthen its position in the market.
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