Alternative Africa

Top Menu

  • Home
  • Privacy Policy
  • Terms of Use
  • Contact Us

Main Menu

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • More
    • Health
    • News Now
    • Technology
    • World
Sign in / Join

Login

Welcome! Login in to your account

Lost your password?

Lost Password

Back to login
  • Home
  • Privacy Policy
  • Terms of Use
  • Contact Us

logo

Alternative Africa

  • Home
  • Arts & Culture
  • Business
  • Environment
  • Politics
  • Sports
  • More
    • Health
    • News Now
    • Technology
    • World
  • 3,800-kilometer underwater electricity cable to connect Morocco, UK

  • Egypt signs agreement to manufacture second coronavirus vaccine in Africa

  • Nigeria Is Bleeding, Defence Minister Magashi Laments

  • France backs military takeover in Chad

  • UK apologises over failure to commemorate black, Asian troops who died fighting for the British Empire

BusinessNews Now
Home›Business›MTN to acquire banking licence in Nigeria

MTN to acquire banking licence in Nigeria

By alternativeafrica
November 13, 2018
582
0
Share:

Cape Town, November 13, 2018 (AltAfrica)-Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019.

Speaking at a telecoms conference in Cape Town, South Africa on Tuesday, the MTN CEO said it will put in an application in December and should lunch the bank in second quarter 2019.

“We will be applying for a payment service banking licence in Nigeria in the next month or so,” Shuter said.

Rob Shuter: MTN CEO in Nigeria

“And if all goes according to plan, we will also be launching mobile money in Nigeria probably around Q2 of 2019.”

The banking licence is for a Payment Service Bank (PSB), which is an offshoot of the initiative of the Central Bank of Nigeria (CBN) to drive financial inclusion in the country.

Last week, while speaking at the 10th-anniversary conference of Enhancing Financial Innovation and Access (EFInA), Godwin Emefiele, the CBN governor, said the new banking licences were to ensure 80 percent financial inclusion by 2020.

In October, the CBN released guidelines for the payment service banks, which included a N2 million non-refundable licence fee and N5 billion capital base.

The CBN guideline was addressed to telcos, mobile money operators, banking agents, and the NCC.

It is expected that Globacom, 9mobile, Airtel, and other telecommunications companies in the country would acquire the same licence to operate payment service banks (PS

SHARE ON:
TagsBanking LicenceMTNNigeria
Previous Article

Backlash as Egypt jails killer corp for ...

Next Article

Nigeria to fix price of agricultural produce ...

0
Shares
  • 0
  • +
  • 0
  • 0
  • 0
  • 0

alternativeafrica

Related articles More from author

  • News Now

    Nigeria 2019: Lagos PDP declares support for ex-VP Atiku Abubakar

    September 3, 2018
    By alternativeafrica
  • AfricaHealthNews Now

    As cases surge, Nigeria slams 6-month jail term on violators of covid protocols

    January 28, 2021
    By alternativeafrica
  • News Now

    Nigeria: Ekiti orders school principals, headmasters to refund unauthorised levies to students

    November 13, 2018
    By alternativeafrica
  • AfricaNews NowSports

    Nigeria: Kenyan, Ethiopian marathon runners stole the show at JAC Motors Abeokuta 10km Race

    November 4, 2019
    By alternativeafrica
  • News Now

    Nigeria: Judges barred from granting ex parte orders in political cases

    September 17, 2018
    By alternativeafrica
  • News Now

    Ex UK PM, Tony Blair Meets Nigeria’s VP Osinbajo at Aso Villa

    April 5, 2019
    By alternativeafrica

Leave a reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

You might be interested

  • AfricaBusinessHealthNews Now

    Israel, Malta to receive first shipment as Uganda begins export of marijuana in 2020

  • BusinessNews Now

    Nigeria: Muslim Women in Business and Professions hold conference in Ghana

  • AfricaBusinessNews Now

    South Africa: Cape Town Authority to commercialise police to curb racketeering

Timeline

  • April 23, 2021

    3,800-kilometer underwater electricity cable to connect Morocco, UK

  • April 23, 2021

    Egypt signs agreement to manufacture second coronavirus vaccine in Africa

  • April 22, 2021

    Nigeria Is Bleeding, Defence Minister Magashi Laments

  • April 22, 2021

    France backs military takeover in Chad

  • April 22, 2021

    UK apologises over failure to commemorate black, Asian troops who died fighting for the British Empire

  • Popular

  • Comments

  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Morocco begins regional integration by connecting Casablanca Airport with High Speed Train

    By alternativeafrica
    January 4, 2020
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Archbishop of Canterbury hosts Leah Sharibu’s mother in London

    By alternativeafrica
    February 21, 2020
  • Macron in Ivory Coast to launch anti-terrorism academy

    By alternativeafrica
    December 21, 2019
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack followed a ...
  • chibueze evarlistus ogbonnaya
    on
    July 22, 2020

    Gambia promotes policewoman who controls traffic despite heavy rain

    This is Awesome
AlternativeAfrica.com is an independent Pan African News Website dedicated primarily to influencing the negative narratives about Africa. We hope to do this by focusing and showcasing the many developmental strides sweeping across the continent.

Read more >>>

Contact Info

  • info@alternativeafrica.com
  • Recent

  • Popular

  • Comments

  • 3,800-kilometer underwater electricity cable to connect Morocco, UK

    By alternativeafrica
    April 23, 2021
  • Egypt signs agreement to manufacture second coronavirus vaccine in Africa

    By alternativeafrica
    April 23, 2021
  • Nigeria Is Bleeding, Defence Minister Magashi Laments

    By alternativeafrica
    April 22, 2021
  • France backs military takeover in Chad

    By alternativeafrica
    April 22, 2021
  • Lagos govt confirms first case of deadly coronavirus infection in Nigeria

    By alternativeafrica
    February 28, 2020
  • Morocco begins regional integration by connecting Casablanca Airport with High Speed Train

    By alternativeafrica
    January 4, 2020
  • Kenyan govt pressure Facebook for data on Kenyan users

    By alternativeafrica
    November 20, 2019
  • Macron in Ivory Coast to launch anti-terrorism academy

    By alternativeafrica
    December 21, 2019
  • Ethiopia joins Africa's Artificial Intelligence revolution | Alternative Africa
    on
    October 2, 2020

    Spending on Artificial Intelligence Systems in Africa, Middle East to top $374 million in 2020

    […] Many African countries ...
  • The 5 most popular Africans 2020
    on
    September 25, 2020

    Celebrating Congolese doctor Jean-Jacques Muyembe, the man behind breakthrough of Ebola cure

    […] Dr. Jean-Jacques Muyembe ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two | taktik(z) GDI (Government Defense ...
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack fol­lowed a January ...
  • Millitants in Central Mali Set Jail Ablaze in Attack Killing Two
    on
    August 11, 2020

    Fifteen gendarmes killed in another attack on Mali camp

    […] attack followed a ...

Photostream

    "); $('.flicker-popup-link').magnificPopup({ type: 'image', closeOnContentClick: true, closeBtnInside: false, fixedContentPos: true, mainClass: 'mfp-no-margins mfp-with-zoom', // class to remove default margin from left and right side image: { verticalFit: true }, gallery: { enabled: true }, zoom: { enabled: true, duration: 600, // duration of the effect, in milliseconds easing: 'ease', // CSS transition easing function opener: function(element) { return element.find('img'); } } }); }); }); });

    Follow us

    • Home
    • Privacy Policy
    • Terms of Use
    • Contact Us
    © Copyright Alternative Africa 2017 - 2021. All rights reserved.