Moniepoint, Opay to pay fine of ₦2billion -CBN In a continuation of the Central Bank of Nigeria’s (CBN) increased scrutiny of fintech startups, two of the country’s most prominent unicorns, Moniepoint and OPay, were fined a combined N2 billion (N1 billion each) in the second quarter of 2024, according to sources with direct knowledge of the matter. While several other fintech companies were also penalized, the two firms were the hardest hit. The penalties followed a routine CBN audit of the fintech sector, which revealed compliance issues. According to two sources...