Airtel Africa receives approval in principle to operate service bank in Nigeria

News Wireless Nigeria 8 NOV 2021
Airtel Africa receives approval in principle to operate service bank in Nigeria

Airtel Africa said that its Smartcash subsidiary has been given approval in principle to operate a payment service bank business in Nigeria. Final approval is subject to the company satisfying certain standard conditions within six months. Airtel Africa CEO Segun Ogunsanya said the group will now work closely with the Central Bank to meet all its conditions to receive the operating licence and commence operations.

Ogunsanya said the final operating licence will enable it to expand digital financial products and reach millions of Nigerians who do not have access to traditional financial services.
 


Categories:

Mobile

Companies:

Airtel Nigeria,  Airtel Africa

Countries:

Nigeria

Tags:

Government telecommunications licensing, e-Payment, Wireless, Consumer

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