Tuesday, January 31, 2023

CBN grants Access Corporation permission to float Payment Company

The Board of Directors of Access Holdings Plc trading as Access Corporation on the floor of the Nigerian Exchange Limited, has announced that it has the approval of the Central Bank of Nigeria to float a wholly owned payment subsidiary to be known as Hydrogen Payment Services Company Limited.

Hydrogen with a vision to be Africa’s most powerful business network will provide switching and payment processing services to financial service providers and other stakeholders.

Herbert Wigwe, Group Chief Executive Officer, Access Corporation said the establishment of Hydrogen is a natural step in the vision of the Corporation to create a globally connected community and ecosystem; inspired by Africa for the world and aligns with its mission to build and sustain one global platform.

He noted that Hydrogen will deploy cutting edge technology infrastructure, strong risk management and governance standards to provide secure, cost efficient and convenient payment services to individuals and businesses across the African continent. It will also support the attainment of the CBN’s financial inclusion strategy.

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