Did Kuda pay the N25bn minimum capital deposit to central bank before it was issued it’s banking license? https://www.cbn.gov.ng/OUT/CIRCULARS/BSD/2005/REQUIREMENTS%20FOR%20NEW%20BANKING%20LICENSE.PDF

As I know it is not affiliated to any traditional bank currently operating, so it’s safe to assume the founders raised that N25bn from various seed rounds?

Plomo:
Did Kuda pay the N25bn minimum capital deposit to central bank before it was issued it’s banking license? https://www.cbn.gov.ng/OUT/CIRCULARS/BSD/2005/REQUIREMENTS%20FOR%20NEW%20BANKING%20LICENSE.PDF

As I know it is not affiliated to any traditional bank currently operating, so it’s safe to assume the founders raised that N25bn from various seed rounds?

kuda is being operated by Zenith so is opay

southniyikaye:
kuda is being operated by Zenith so is opay

By zenith?

I don’t think that’s true.



Opay is not operated by zenith, I’m sure of that.

Plomo:


By zenith?

I don’t think that’s true.



Opay is not operated by zenith, I’m sure of that.

make enquiries, am giving you facts.

southniyikaye:
make enquiries, am giving you facts.

Well paste links so I can see for myself.

Plomo:


Well paste links so I can see for myself.

satisfied?

southniyikaye:
satisfied?

That does not mean it is run by zenith bank oga.

Opay is a Chinese backed fintech operating in africa. Zenith bank is just facilitating funds collections and deposits for them.

southniyikaye:
satisfied?

Opay is owned by Chinese not zenith

Nisiw365:

Opay is owned by Chinese not zenith

I didn't say owned , I say run

Plomo:


That does not mean it is run by zenith bank oga.

Opay is a Chinese backed fintech operating in africa. Zenith bank is just facilitating funds collections and deposits for them.

pls quote where I said it is owned by zenith bank

southniyikaye:
I didn't say owened, I say runned

Its not

southniyikaye:
pls quote where I said it is owned by zenith bank

You said:

southniyikaye:
kuda is being operated by Zenith so is opay

Either way, it’s not.

Everything is above the reach of the common man. Even business registration na another money

OP, please note that the 25 billion capital deposit is for commercial banks (eg like First Bank, access bank, etc)

Kuda (formerly Kudimoney) is a (national) microfinance Bank.
They got their licence about 2 years ago or so.

The capital deposit requirement for national microfinance banks is "just" 2 billion naira, and Kudi raised more than $1.6 million dollars in their pre seed round, and they've raised more than $30 million dollars till date.


PS Opay is run by Opera Software through the Paycom company.
Opera was bought by the Chinese, so Opay is Chinese.

rookidmart:
OP, please note that the 25 billion capital deposit is for commercial banks (eg like First Bank, access bank, etc)

Kuda (formerly Kudimoney) is a (national) microfinance Bank.
They got their licence about 2 years ago or so.

The capital deposit requirement for national microfinance banks is "just" 2 billion naira, and Kudi raised more than $1.6 million dollars in their pre seed round, and they've raised more than $30 million dollars till date.


PS Opay is run by Opera Software through the Paycom company.
Opera was bought by the Chinese, so Opay is Chinese.

Aha!

Thank you!

So then someone who has dreams of doing something like Kuda does must either be already rich or raise money through seed rounds to be able to afford a license.

This someone is me.


Thanks again!

This useless KUDA that called itself a digital bank yet can't be reached digitally for days.

Hardly reply emails on all channels

Blocked comments on their IG page

Don't reply comments on their FB page

Funds hanging there for almost 4 days now with no response to all my messages.

Can't wait to dump their behind as soon as I get my hanging funds back.