Following routine audits of the fintech sector, the Central Bank of Nigeria imposed administrative penalties reported at ₦1 billion each on OPay and Moniepoint (with further unnamed operators also penalised) for deficiencies in know-your-customer and anti-money-laundering controls, in a wider 2024 tightening that included a temporary suspension of new-customer onboarding across several fintech operators.

Among the clearest examples to date of a central-bank enforcement posture directed specifically at digital-finance operators in the region, signalling that fast-scaling fintechs operating under microfinance and payment licences will be held to bank-grade KYC/AML standards. This entry rests entirely on secondary reporting: the CBN does not publish individual enforcement decisions, so no primary determination text, precise determination date, or specific instrument citation could be confirmed, and the penalty figures and timing require primary verification before reliance.