Technocrat Media, Lagos
The Central Bank of Nigeria (CBN) has granted the telecommunications giant, MTN Nigeria the approval to operate Momo Payment Service Bank Limited (Momo PSB).
In a statement titled: “The Central Bank of Nigeria Grants Final Approval for Momo Payment Service Bank Limited to Commence Operations” signed MTN Nigeria company secretary, Uto Ukpanah, said the telecom company has been granted operational approval for ‘Momo Payment Service Bank Limited’.
“We refer to our notification issued on 5 November 2021 in which we communicated receipt of the approval in principle from the Central Bank of Nigeria (CBN) for Momo Payment Service Bank Limited (Momo PSB),” Ukpanah said.
“MTN Nigeria Communications Plc (MTN Nigeria) announces the receipt of a letter dated 8 April 2022 from the CBN addressed to Momo PSB conveying final approval to commence operations. The date of commencement will be communicated to the CBN in accordance with its requirements.”
“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.”
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