Central Bank Of Nigeria Approves MTN’s Payment Service Bank
Apr 13, 2022 ·
55s
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Description
Telecommunication giant, MTN, has received the final approval to operate as Momo Payment Service Bank Limited. MTN Secretary, Uro Ukpanah in a statement says the date of commencement will be...
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Telecommunication giant, MTN, has received the final approval to operate as Momo Payment Service Bank Limited.
MTN Secretary, Uro Ukpanah in a statement says the date of commencement will be communicated to the CBN in accordance with its requirements.
PSB operators provide financial services through digital means to low-income earners and people that do not use banks or banking institutions for transactions.
They are expected to operate in rural regions and areas where Nigerians do not have bank accounts and should have at least 50 percent physical access points in rural areas.
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MTN Secretary, Uro Ukpanah in a statement says the date of commencement will be communicated to the CBN in accordance with its requirements.
PSB operators provide financial services through digital means to low-income earners and people that do not use banks or banking institutions for transactions.
They are expected to operate in rural regions and areas where Nigerians do not have bank accounts and should have at least 50 percent physical access points in rural areas.
Information
| Author | Africa Business Radio |
| Organization | Africa Business Radio |
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