Connect with us
X
Categories:

Business

MTN to acquire banking licence in Nigeria – Rob Shuter

All Naija Entertainment

Published

on

Rob Shuter, the chief executive officer at MTN Group, says the group will acquire an independent banking licence in Nigeria by 2019.

Download & Install The New ANE Android App To Your Device
Hello!! Have you heard about the deadly virus called Coronavirus? No? See What It Is & How To Prevent It Here. Also Stay Connected & Get Latest Updates On Coronavirus Here. Please be safe! We LOVE You.


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.

“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 (PSB).


Get More Stories Like This On: Facebook: @AllNaijaEntertainment, Twitter: @AllNaijaEntertainment
Reach us on WhatsApp via: +2348104471989

Don’t Miss!

Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.




Latest Exchange Rate

Donate To ANE!


Mind buying a coffee to support us here at All Naija Entertainment?. Yes?

Donate Now
Baby Walkers
Lifestyle1 week ago

Buying Guide On Baby Walkers for 2021

Burna Boy
Entertainment2 months ago

2021 Grammy Awards: Burna Boy Promises An Unforgettable Performance Experience

Lionel Messi Barcelona Sevilla Copa Del Rey Semi Final
Sports2 months ago

Copa del Rey: Barcelona conquer Sevilla despite 2-0 down!!

PANDORA'S BOX Story
Stories2 months ago

[STORY] PANDORA’S BOX (Episode 06)

BITCOiN
Technology2 months ago

Best Time to Sell Your Bitcoin [EASY GUIDE]

BITCOiN
Technology2 months ago

Bitcoin Crashes, Loses $10,000 In Value

News2 months ago

30 Million Nigerians Will Be On Drugs By 2050 – NDLEA

Cristiano Ronaldo
Sports2 months ago

Serie A: Ronaldo’s Brace Set Juventus Free From Crotone

News2 months ago

Fulani Herdsmen Deserve Better Treatment From Nigerians – Bauchi Former Gov

Justin Trudeau
News2 months ago

Insecurity: Canada Issue Warning to Citizens Against Traveling to Nigeria

NCDC Chairman Chikwe Ihekweazu
News2 months ago

Nigeria Govt Confirms Discovery Of New Covid-19 Variant, 15 Others

Akwa Ibom Best Hotels ANE Travels
Lifestyle2 months ago

How To Detect Hidden Camera in a Hotel Room!!

WhatsApp
Technology2 months ago

WhatsApp To Deactivate Messages For Users Who Reject New Terms!!

Nissi
Entertainment2 months ago

Afro-Jazz/funk Singer, Nissi’s ‘Move X 2’ Is A Rare Delightful Visual

Kim Kardashian
Entertainment2 months ago

Kim Kardashian Officially Files For Divorce From Kanye West!!

Kanye West
Entertainment2 months ago

Kanye West Thinks Kim Kardashian Is Divorcing Him Because Of Presidential Run

Banky W and Adesua Pregnant
Entertainment2 months ago

Banky W, Adesua Etomi Welcome Baby Boy!!

JImoh Ibrahim
News2 months ago

Jimoh Ibrahim: Court Vacates Order Against Assets Over Alleged N69.4bn Debt

Business2 months ago

Nigeria To Supply Electricity To Togo From Calabar Power Plant

Victor Osimhen
Sports2 months ago

Napoli Confirm Victor Osimhen Head Injury, Say No ‘conclusive Result’ After Tests

ANE Billboard Hots!



Join "ANE sabi" clique

Don't miss a thing, get ogbonge ANE latest updates to fuel your conversation daily.





Copyright © All Naija Entertainment.

css.php