The Central Bank of Nigeria (CBN) has issued an approval in principle to Cellulant Nigeria Limited to operate as a Payment Solution Service Provider (PSSP) in Nigeria. According to a statement issued by the firm, this approval makes Cellulant one of the PSSPs in the country. PSSPs are the companies that make up the underlying e-Payment infrastructure in Nigeria. Banks, online merchants, payment processors, merchants, state-governments and consumers connect to PSSPs to meet their electronic payment needs.
Cellulant is the provider of the Tingg Payment Service & AgriKore Customer Relationship Management (CRM) service that is used by the governments, private sector companies, farmers, merchants in Nigeria & the rest of Africa, Asia to ensure end-to-end electronic payments in Agriculture and other consumer facing value chains.
The co-founder and Chief Executive Officer of Cellulant Nigeria, Mr. Bolaji Akinboro, stated that this approval will enable the company to extend its payment solutions across all spectrum of Nigeria’s payment system ecosystem.
According to him, ‘‘Cellulant is a critical component of Nigeria Payments system and a key actor in delivering the payments systems vision 2020 especially as it pertains to digitising payments within Agriculture and adjacent payment verticals such as transport & logistics; We want to assure CBN and all Nigerians that we will not disappoint them’’.