The Central Bank of Nigeria (CBN) has given final approval to Access Holdings Plc. for its wholly owned payment subsidiary, Hydrogen Payment Services Company Limited.
Hydrogen is envisioned to be Africa’s most powerful business network that will provide switching and payment processing services to financial service providers and other stakeholders.
Speaking on the new subsidiary, Dr. Herbert Wigwe, Group Chief Executive Officer, Access Corporation said: “The establishment of Hydrogen is a natural step in our aspiration to create a globally connected community and ecosystem; inspired by Africa for the world and aligns with our mission to build and sustain one global platform, open for anyone to join where people can be connected to exceptional opportunities.
“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 thereby supporting the attainment of the Central Bank of Nigeria’s financial inclusion strategy.”
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