Legal Nigeria

KAYI Microfinance Bank not affected by NIBSS circular – Management

The management of KAYI Microfinance Bank Limited has assured its customers that it has the Central Bank of Nigeria (CBN) licence to offer full scope of banking services to the public.

A Statement signed by its chairman, Saadina H. Dantata and made available to our Correspondent on Friday indicated that the bank is also not affected by the NIBBS Circular on Permissible Services and Products of PSSP Operation in Nigeria, released on December 5, 2023.

The Statement added that: “Kayi is pleased to confirm that it has a Tier 1 Microfinance Bank licence from the Central Bank of Nigeria, which allows it to hold customer deposits and offer a full scope of banking services to the public. Hence, Kayi is not affected by the circular.

“Additionally, Kayi is pleased to confirm 95% of NIBSS integration and finalizing the total overhaul of its product and the subsequent release of our world-class superapp, KayiApp to both the Google Play Store and Apple App Store by the end of next week.

” Kayi remains committed to fulfilling its promise of banking without limits to its esteemed customers.”