MoMo PSB was granted final approval by the Central Bank of Nigeria in April 2022.

Following the final approval for a Payment Service Bank (PSB) license granted by the Central Bank of Nigeria (CBN), MTN Nigeria’s fintech subsidiary, MoMo Payment Service Bank (PSB), formally launched a range of financial services for Nigerians in May 17, 2022.

MoMoPSB is committed to providing financial services in a secure technology-driven environment to further deepen financial inclusion in Nigeria.

MoMo PSB will build on the extensive infrastructure established by its affiliate Y’ello Digital Financial Services through its shared agent network and digitized partnership infrastructure, which has over 166,000 active agents and more than 10 million active users.

MoMo PSB will offer financial services to the Nigerian Public, including sending and receiving Money to any phone number for free, cash withdrawals and deposit-taking from individuals and small businesses, and much more.

To use the MoMo Service customers need to simply dial the shortcode *671# and open their personal accounts on their Phone numbers, fund their accounts and start transacting.

MoMoPSB is a subsidiary of MTN Nigeria, Africa’s largest provider of communications services.

For More Information on MoMo Payment Service Bank and for answers to questions you might have please visit https://www.momo.ng