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Central Bank of Nigeria grants approval for MTN to run the MOMO payment Bank

Digivation Network April 12, 2022

MTN Nigeria informed the Nigeria Exchange Group today that the Central Bank of Nigeria has given it final approval to operate Momo Payment Service Bank Ltd.

MTN revealed in a corporate declaration submitted by company secretary Uto Ukpanah that the CBN gave final approval in a letter dated April 8, 2022.

“MTN Nigeria Communications Plc (MTN) has received a letter from the Central Bank of Nigeria (CBN) dated 8 April 2022 addressed to Momo PSB, confirming final authorisation to begin operations.”

“In compliance with the CBN’s standards, the date of beginning will be informed to the CBN,” Ukpanah added.
The CBN granted MTN preliminary approval to start the payment service in November 2021.

MTN Momo Pay is already available in a few of African nations.

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The Lagos Future Conference 2025 is scheduled to take place on June 14, 2025, at the Oriental Hotel in Lekki, Lagos, with the theme "Future-Forward: Harnessing The Power of Youth, Innovation, and Technology for National Economic Growth". However, another source indicates the conference might be happening on June 5-6, 2025, at the same location. To confirm the exact date, it's best to check the official event details.

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