Nigeria’s Largest Mobile Operator About To Become A Bank

Riyaz Patel

MTN Nigeria, the country’s largest telecoms operator, has been granted a “super agent” license which allows it to set up a network through which it can provide financial services.

It’s the first step in MTN’s plans to finally roll out mobile money services in Africa’s largest economy.

The telecoms giant says it has also applied for a payment service bank license, which will allow it to “offer a broader and deeper range of financial services.”

The license comes after reforms by Nigeria’s central bank last October, permitting telecoms operators to get mobile money and banking licenses in a bid to boost financial inclusion and facilitate the long-held ambition for a cashless society.

As already seen in several African countries, the real-life application of mobile money among