Key Points
- Bamisile names weak data at the apex bank. He cites bounced emails and repeated missed hearings.
- MoniePoint, OPay, and Kuda skipped a House hearing. The chair calls that conduct a clear compliance red flag.
- He alleges opaque ownership and proxy control across platforms. He vows tighter rules after the probe ends soon.
A federal lawmaker has raised new alarms on fintech oversight. Olufemi Bamisile says the CBN lacks key facts on operators. He spoke in a live television interview on Tuesday. He says the gaps pose risk to users nationwide.
Bamisile chairs the House ad-hoc probe on fintech firms. He says some work without clear addresses or owners. He adds that CBN records miss core field details. He calls the finding a clear red flag today.
Committee flags CBN fintech oversight and compliance gaps
The chair says key firms ignored formal summons to the House. He names MoniePoint, OPay, and Kuda among those absent. Several official emails bounced during the process, he claims. He says their silence shows weak respect for the rules.
Bamisile says the apex bank could not confirm key sites. He adds that staff lists remain unclear in some files. He wants full data from the CBN this week. He says real oversight needs field checks and audits.
Recent coverage on rising cooking gas prices nationwide shows policy shocks. He says trust grows when rules stay clear and firm.
Ownership claims and national security risk
The lawmaker also raises claims on opaque ownership links. He alleges OPay ties to a China based owner. He says some brands run through local agents and proxies. He warns such gaps may expose cash flows and data.
Bamisile vows to file the report within the timeline. He promises firm steps to raise rules after findings. He adds that users need safe, clear, fair tools. He urges all platforms to meet Parliament without delay.
For wider context, our naira reform and FX outlook tracks policy trends. He says clean growth in tech needs trust and proof.
He calls on the CBN to supply complete files fast. He asks fintech firms to share facts and addresses now. He says the probe will protect users and markets. He pledges open updates as the inquiry proceeds.
