Companies
Updated: January 18, 2023

CBN Grants Chams Holdco Payment Service License

By Felicia Abisola Olamiji
January 18, 2023
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Chams Holdco, an Identity management and digital payment solutions provider, has been awarded a Payments Service Holding Company License (PSHC) by the Central Bank of Nigeria (CBN) due to the major payment licenses within the company.

Speaking on the achievement, Mayowa Olaniyan, the Company’s Group Managing Director (GMD), stated, “Chams HoldCo was granted the PSHC license on Friday, January 13th, 2023 by CBN and also renewed both Switching and Mobile Money Operators (MMO) licenses for the subsidiaries.

"The need for the PSHC license is to establish a business institution that will further increase the pivotal role of the company in the payment industry across Africa and ensure global relevance."

Giving her closing remarks, the GMD said, “We are very grateful to the Central Bank of Nigeria for certifying and granting Chams such a prestigious payments license."