MTN set to offer mobile banking in Nigeria in second quater of 2019


  • Global Moderator
  • Full Member
  • *****
  • Posts: 217
  • If you have the power to make someone happy, do it. The world needs more of that.
According to the CEO of the South african owned company, MTN Group will apply for a mobile banking licence in Nigeria with full launch set to take place that same year.

Rob shuter, the CEO said this on Tuesday in a move to further strengthen the South African telecoms company in its biggest market despites series of fines.

The Federal government had announced last month that it would allow telecom companies to provide banking services, aiming to give millions of Nigerians without bank accounts access to mobile money services.

MTN hasn't been on the good side with the country as the CBN said it illegally transferred $8.1 billion overseas. The firm had also been given a $2 billion Nigerian tax bill.

“We will be applying for a payment service banking licence in Nigeria in the next month or so, and if all goes according to plan, we will also be launching Mobile Money in Nigeria probably around Q2 of 2019,” Rob Shuter told a telecoms conference in Cape Town.

Whether the government would assent to the licence is unknown until next year. MTN has the most successful telecom brand in the country with about 56 million people under it's service.

« Last Edit: November 13, 2018, 09:33:14 PM by Everest »