The Central Bank of Nigeria (CBN) has issued Ceviant, a UK-based financial technology company providing treasury and trade solutions to corporate entities globally, a Payment Solution Service Provision (PSSP) licence to commence operations in the country.
The licence permits the company to offer a range of payment services to clients in Nigeria, including electronic fund transfers and payment processing.
With the legal backing, Ceviant can explore opportunities in the nation’s financial system through partnership with banks and other financial institutions (OFIs) within the payment ecosystem to deliver payment services nationwide.
The licence allows the PSSP to engage in API integration with banks, support businesses to manage bank accounts, payments, transactions, cash balances, among other services, all through a single portal and API.
Commenting on the CBN’s licence, Ceviant’s CEO, Kehinde Dabiri, said: “We are proud to have been granted the PSSP license from the Central Bank of Nigeria. This demonstrates our dedication to providing exceptional payment solutions that meet the necessary regulations. At Ceviant, we aim to provide integrated treasury and trade solutions that give our customers more data transparency, automation, visibility, and control of their payments and treasury operations.
“Receiving the PSSP license is a major achievement for Ceviant. It highlights our dedication to maintaining the security and accuracy of all payment processes.
“Our team worked hard to meet the demanding standards set by the Central Bank of Nigeria, and we are confident that our payment solutions will continue to meet the changing needs of Nigerian businesses”, the payment expert added.
In the UK, the FCA licence issued to the company allows it to the country’s financial services ecosystem, making it easier for businesses to manage payments and transactions through a single platform.
With its headquarters located in London and offices in Bucharest and Lagos Nigeria, Ceviant is a member of the SWIFT partner programme and an International Standard Organisation (ISO) accredited payment service company.
Recently, Ceviant announced a partnership with Providus, GT Bank and Access Bank while also collaborating with other DMBs in the country to provide integrated treasury and payment solutions to corporate entities.
Financial analysts believe that the licence by the apex bank will enable the company to deploy its expertise and other resources to provide a more comprehensive range of financial services at a most efficient, affordable cost to customers across Europe and Africa.
