• Advertise
  • Jobs
  • Freelance Gigs
  • Motoring
  • Money
Saturday, June 25, 2022
  • Login
  • Startups
    • About US
  • Reviews
  • Business
  • Motoring
  • Blockchain
    • Crypto News
  • Insider
    • Obituaries
  • Women
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Columnists
No Result
View All Result
  • Startups
    • About US
  • Reviews
  • Business
  • Motoring
  • Blockchain
    • Crypto News
  • Insider
    • Obituaries
  • Women
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Columnists
No Result
View All Result
TechMoran
No Result
View All Result
Home Business

MTN’s MoMo Payment Service Bank begins operation in Nigeria

MoMo Payment Service Bank (PSB), the fintech subsidiary of MTN Nigeria Plc has begun commercial operations in Nigeria.

Through  a corporate disclosure signed by the company’s secretary, Uto Ukpanah and filed with the Exchange (NGX).The company notified its shareholders and the investing public that it had commenced  operations

Speaking on the latest development, Karl Toriola, CEO of MTN Nigeria said, “This is an important milestone for MTN Nigeria in our mission to support government’s drive  towards financial inclusion in Nigeria. Not just for those in urban centers and markets, but also people in the rural and remote areas of the country who remain excluded from the Financial system”.

The move comes after a successful pilot initiated on May 16, 2022, in commemoration of the launch of the company’s GSM operations on May 16 2001, and the company’s listing by introduction on the Nigerian Exchange Limited on May 16 2019.

 The fintech PSB is positioned to enable millions of unbanked and underserved Nigerians to access a wide range of financial service products with an expansive agent network of over 166,000 agents and digitized partnership infrastructure.

It  will  also be dedicated to eliminating frictions from everyday payment by digitising cash payments.

Also, the MoMo wallet will enable Nigerians in the diaspora to send money to any phone number in the country, in the nearest future.

According to the company, this is an important feature given Nigeria’s ranking as the destination for the highest remittance inflow in Sub-Saharan Africa.

The CEO of MoMo PSB, Usoro Usoro, said “Providing easy to use, accessible and affordable financial services to all Nigerians is essential to executing the CBN’s financial inclusion strategy and digital inclusion agenda of the Minister of Communications and Digital Economy. We look forward to playing our part and are excited about the opportunities to partner with relevant institutions across various sectors to co-create and expand access nationwide”.

Readers 428

Share

  • Click to share on Telegram (Opens in new window)
  • More
  • Click to share on Tumblr (Opens in new window)
  • Click to print (Opens in new window)
  • Click to share on LinkedIn (Opens in new window)
  • Click to share on Pinterest (Opens in new window)
  • Click to share on Reddit (Opens in new window)
  • Click to share on Pocket (Opens in new window)

Like this:

Like Loading...

Related

Milcah Lukhanyu

Milcah Lukhanyu

Milcah Lukhanyu covers daily news briefs at TechMoran. She is the person who will probably read your press release and get the story out of it or totally trash it. Send tips to editor@techmoran.com

Related Posts

Kenya Airways inks deal to purchase 40 flying taxis
Business

Kenya Airways inks deal to purchase 40 flying taxis

by Val Lukhanyu
June 24, 2022
0

Kenya Airways (KQ) has signed a deal with two Brazillian aviation firms Eve Holdings Inc and Embrear to buy 40...

dstv-compressor
Business

Safaricom Loses The DStv Piracy Lawsuit Battle

by Vanessa Waithera
June 24, 2022
0

After receiving a decree from the High Court for them to remove pirated content from the pay-TV company, MultiChoice won...

Rwanda to host the 2022 World Circular Economy Forum in December, a first for Africa event
Business

Rwanda to host the 2022 World Circular Economy Forum in December, a first for Africa event

by Val Lukhanyu
June 23, 2022
0

The World Circular Economy Forum (WCEF2022) will, for the first time, take place on African soil in 2022, bringing together...

Kenya Signs MOU With British Chamber Of Commerce To Promote  Business Climate Reforms Agenda

Kenya Signs MOU With British Chamber Of Commerce To Promote  Business Climate Reforms Agenda

June 23, 2022
African Development Bank Appoints Simon Mizrahi as Acting Vice President, Technology and Corporate Services Complex

African Development Bank Appoints Simon Mizrahi as Acting Vice President, Technology and Corporate Services Complex

June 22, 2022
Nigeria’s Kannywood Streaming Platform “Northflix” Clocks Three Years , Spread To Over 85 Countries

Nigeria’s Kannywood Streaming Platform “Northflix” Clocks Three Years , Spread To Over 85 Countries

June 20, 2022
Please login to join discussion
  • Advertise
  • Jobs
  • Freelance Gigs
  • Motoring
  • Money

© 2022 TechMoran Ltd, All Rights Reserved.

No Result
View All Result
  • Startups
    • About US
  • Reviews
  • Business
  • Motoring
  • Blockchain
    • Crypto News
  • Insider
    • Obituaries
  • Women
  • Hacks & Facts
    • How To
  • Editions
    • US Edition
    • India Edition
    • MENA Edition
    • Asia Edition
    • Europe Edition
    • International Edition
  • Columnists

© 2022 TechMoran Ltd, All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Go to mobile version
%d bloggers like this: