Airtel Africa and MTN Nigeria have finally launched their mobile money banking services in Nigeria.
Airtel Africa stated that its services are currently available via selected retail locations but will be extended across the country over the next few months. In November last year, the Central Bank of Nigeria granted its platform Smartcash provisional approval for a Payment Service Bank licence, with the full licence granted in April 2022.
Airtel Africa CEO Segun Ogunsanya said that the licence would allow Airtel Africa to deliver a full suite of mobile money services which would improve the lives of “millions of Nigerians who do not currently have access to financial services by delivering current and savings accounts, payment and remittance services, debit and prepayment cards and more sophisticated services”.
MTN Nigeria also launched its financial services subsidiary and platform MoMo Payment Bank Service (MoMo PSB) following a successful pilot.
“This is an important milestone for MTN Nigeria in our mission to support the government’s drive towards financial inclusion in Nigeria,” said MTN Nigeria CEO Karl Toriola.
Source: Developing Telecoms
