MTN granted final approval for mobile banking services in Nigeria

12 Apr 2022

MTN Nigeria has announced that the Central Bank of Nigeria (CBN) has granted it final approval to provide mobile payment banking services to its customers. In November last year MTN received an approval in principle from the CBN to launch its planned MoMo Payment Service Bank (PSB), but the latest go-ahead will allow the firm to officially commence operations. Without providing additional information, MTN said in a press release that ‘the date of commencement will be communicated to the CBN in accordance with its requirements,’ adding: ‘MTN Nigeria affirms its commitment towards the financial inclusion agenda of the CBN and the Federal Republic of Nigeria and we are excited at this opportunity to support its fulfilment.’

Nigeria, MTN Nigeria