MTN Nigeria Communications Plc (NGX: MTNN) says it has received the approval of the Central Bank of Nigeria for its Momo Payment Service Bank Limited to commence operations.
MTN Nigeria disclosed this in a document published on the Nigerian Exchange on Monday. The telecommunication giant said that it is committed to the financial inclusion agenda of the CBN and that the CBN will be informed of the commencement date.
The document read: “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).”
“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.”
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.