Bank Begs Customers as Withdrawal and Transfer Stop Working as CBN Revokes Its License

Bank begs customers as withdrawals stop working after CBN revokes license

Eyowo, a well-known digital bank, has informed its customers that they are currently unable to make withdrawals or money transfers. This situation arises from the recent decision by the Central Bank of Nigeria (CBN) to revoke the licenses of Eyowo and more than 170 other microfinance banks and finance companies.

Despite this setback, Eyowo has assured its customers that their funds remain secure, and the company is committed to resolving the issues promptly. In a statement released on its official Twitter account, Eyowo stated that it is working closely with its partner banks to address the situation.

Eyowo has also notified its customers that the transaction challenges they are experiencing may persist for a period of 24 to 72 hours. The company is actively engaging with the CBN to seek a resolution.

Part of Eyowo’s statement reads:

“During the next few hours, you may encounter difficulties in sending and receiving money using Eyowo. We anticipate that it may take up to 24-72 hours for these challenges to be fully resolved. We will keep you updated on the progress made and inform you of the next steps.

“We understand the importance of transparent communication during this time and will keep you informed of any developments and progress made in resolving the situation.
“We sincerely appreciate your trust and support as valued customers and stakeholders. We are actively collaborating with our partner banks to implement a swift resolution to the transaction challenges.”