Chipper Cash, Creditville among fintech companies affected by CBN’s microfinance bank licence revocationThe revocation of 46 microfinance banks‘ (MFBs) licences by the Central Bank of Nigeria (CBN) is having an impact that extends beyond the banking industry into the financial technology (fintech) sector.CBN on Tuesday said the licences were revoked due to insufficient assets to meet liabilities, inactivity, closure without approval, failure to commence operations within the stipulated period, and failure to maintain the required minimum capital.The decision, which took effect on July 1, has not just ended the operations of the affected financial institutions, it is disrupting activities in the fintech market, as microfinance banks have been a channel used by fintech companies to access the banking industry.Some fintech companies acquire MFBs to strengthen their footprints in the financial sector, expanding from payment services to core banking operations, while some depend on microfinance banks as a gateway for their customers’ transactions.As the ripple effect grips the fintech market, TheCable presents some fintech companies affected and how it impacts them.Below are the fintech companies affected.Chipper CashCreditvilleSycamore