Callphone Gets CBN PSS Licence

Emma Okonji

Callphone Limited, a premier financial technology brand in Nigeria, has been granted the final approval licence to operate under the Payment Solution Service (PSS) licence category as a PSSP/PTSP/Super Agent in Nigeria. This final licence approval, dated 25th of April, 2022 came approximately five months after the company was given Approval-in-Principle (AiP) back in November, 2021.

Callphone Limited now becomes the first Fintech company to be granted the CBN’s PSS licence to operate as a PSSP, PTSP, and Super-Agent in Nigeria.

Over the years, Callphone Limited has launched several customer-centric products actualizing CBN’s financial inclusion goal in line with the National Financial Inclusion Strategy.

Announcing the development, the company’s Ag.MD/CEO, Precious Chidozie Ekezie, expressed his excitement saying; “I am delighted to announce our acquisition of the final PSS license. With this, we become the pioneer of this licence categorisation that has escrowing the minimum capital requirement – N250 million – to CBN as one of the licensing prerequisites. We were able to achieve this through the continuous support of the company board, dedicated management team, and wonderful staff who align with our mission and vision.’

Ekezie highlighted the importance of the license and restated the company’s commitment to driving the financial inclusion initiative to every corner of the continent.

The PSS license takes Callphone a step further towards achieving its goal in building a reliable and reputable financial service company. The company’s mission of providing seamless financial transactions to customers and partners is in line with the Central Bank of Nigeria’s financial inclusion policy and this license provides a quantum leap to the growth of the company as it works towards contributing its quota to strengthen and intensify the Fintech reach and creating new possibilities in the financial technology sector in Africa, Ekezie said.