Eyowo users are creatively withdrawing their money from the app

by Digital Brainiacs
0 comment 1 minutes read

Nearly a week after the CBN revoked Eyowo’s Microfinance bank license, its users are still unable to access the funds in the digital bank. As a result, some users have resorted to buying airtime and cable subscriptions on the platform with the intention of reselling them in order to retrieve their money.

A day after Nigeria’s Central Bank revoked the microfinance bank licence of the digital bank Eyowo, customers realised they could no longer receive or send money on the app. Despite assurances from Eyowo that it is working on the issue, customers have found another way to withdraw their money— buying airtime or cable subscriptions with the money in their Eyowo accounts and reselling them. 

A statement from Eyowo assured customers that it was working to resolve the situation and gave a timeline of 72 hours. But three days after that timeline, several customers told TechCabal that the situation persists. Eyowo told customers on Friday that it had “made significant…

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