Tag Archives: MoMo Payment Service Bank Limited.

MTN Nigeria subsidiary, Momo Payment Service Bank Limited lost N22.3 billion following a security breach on the fintech’s system, which forced the company to shutdown operation temporarily. The incident occurred on May 24, 2022, after Momo PSB processed 700,000 transactions, sending proceeds into about 8,000 third party accounts domiciled in …

The Central Bank of Nigeria (CBN) has granted MTN the final approval to operate as Momo Payment Service Bank Limited (Momo PSB). Uro Ukpanah, company secretary at MTN Nigeria, disclosed this in a statement on Monday. PSB operators provide financial services through digital means to low-income earners and people that …

MTN Nigeria Communications Plc announced that it has obtained an Approval-in-Principle (AIP) from the Central bank of Nigeria (CBN) to launch its proposed MoMo Payment Service Bank Limited. The approval is one of the foremost actions required to obtain final approval from the apex banking authority, subject to the fulfilment …