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MTN Nigeria Communications Plc – Approval in Principle by the CBN for the proposed MoMo Payment Service Bank Ltd

By Published On: November 5th, 2021Categories: Corporate announcement

MTN Nigeria Communications Plc (MTN Nigeria) as promoter, received an Approval in Principle (AIP) dated 4 November 2021 from the Central Bank of Nigeria (CBN) for a licence application for the proposed MoMo Payment Service Bank Limited.

This is the first step in the process towards a final approval, subject to the fulfillment of certain conditions as stipulated by the CBN. The decision to issue a final approval is firmly within the regulatory purview of the CBN and we respect their right and judgment in that regard.

MTN Nigeria affirms its com