MTN To Acquire Banking Licence In Nigeria, Says CEO - Business

MTN To Acquire Banking Licence In Nigeria, Says CEO - Business - Nairaland

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MTN To Acquire Banking Licence In Nigeria, Says CEO by dre11(op): 10:48pm On Nov 13, 2018

by Mayowa Tijani

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.

“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).

https://www.thecable.ng/just-in-mtn-to-acquire-banking-licence-in-nigeria-says-ceo

3 Likes 1 Share

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by bedspread: 10:52pm On Nov 13, 2018

That will be a Good One!!

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Obainoneandonly(m): 10:52pm On Nov 13, 2018

mtn no go gree borrow person money, that stingy company.. they should rather give it to glo and etisalat only, I no trust dat airtel ...mtn is a no no..even if they want to borrow someone money, I bet their requirements will be insurmountable.they will even want to come and search your house

29 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by gurunlocker: 11:06pm On Nov 13, 2018

So you can easily launder money with the bank? grin

77 Likes 4 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Officialpdpnig: 11:10pm On Nov 13, 2018

This is why I hate this current version of my party. I thought they said the economic policies of this current fg is chasing away investors?

Why is mtn still further investing?

PDP is cursed as long as they refuse to rebrand, they are cursed.

As long as they remain the liars and thieves as a party then thunder will fire all of them

43 Likes 10 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Officialpdpnig: 11:11pm On Nov 13, 2018

They even claim job losses garlore under this fg. Meanwhile investors are investing and creation more jobs.

Can you imagine the number of jobs that would be created via mtn mobile money services?

Entrepreneurs would boom big time.

If the economic environment was unfavorable as claimed by my party people, why the further investment from mtn?

They should be counting their losses and shoring up and not further investing.

22 Likes 6 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by naijjaman(m): 11:12pm On Nov 13, 2018

Competition is ok.
Smart move by MTN

1 Like 1 Share

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by grandstar(m): 11:12pm On Nov 13, 2018

This is very good news

Foriegn investment is welcome considering the dreadful state of the economy. Far more is needed

2 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Oildichotomy(m): 11:12pm On Nov 13, 2018

If after the plenty wahala CBN put them through with the dollar repatriation, they still want to go ahead and invest in mobile money, that means these MTN guys are cashing out big time.

MTN, na you Biko

32 Likes 4 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by GavelSlam: 11:12pm On Nov 13, 2018

Investors appreciate the nation.

The lazy wailers can only weep.

9 Likes 3 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Seconsol92(m): 11:12pm On Nov 13, 2018

A welcome development.

See below for cheap MTN SME data

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Naijawebmaster: 11:13pm On Nov 13, 2018

Honestly, I don't know if I should be happy or sad about this MTN news.

4 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Ambidextrause: 11:13pm On Nov 13, 2018

Some bank marketers are about to get tensed. MTN might of course domicile their money in their own bank. A big customer going...

2 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Pafi78: 11:13pm On Nov 13, 2018

Godnews is long over due,the hv it in other African countries where the operate

2 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by abc115: 11:13pm On Nov 13, 2018

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by bigpicture001: 11:14pm On Nov 13, 2018

bedspread:
That will be a Good One!!

....plz think wel again....not a good news at lll

3 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Okoyeebo: 11:14pm On Nov 13, 2018

That same 2019, the PDP want to give Atiku looting license.

5 Likes 1 Share

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Breegz14(m): 11:14pm On Nov 13, 2018

with the way you guys steal people's credit i ain't gonna bank with you

3 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Najyin(m): 11:14pm On Nov 13, 2018

MTN from telecoms to banking. Era of indiscriminate charges loading. Their own go pass GT own. Who wants to be a millionaire must start again by force.

6 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Bobbyfreshh(m): 11:14pm On Nov 13, 2018

Officialpdpnig:
This is why I hate this current version of my party. I thought they said the economic policies of this current fg is chasing away investors?

Why is mtn still further investing?

PDP is cursed as long as they refuse to rebrand, they are cursed.

As long as they remain the liars and thieves as a party then thunder will fire all of them

Zombies now have night shifts lol
Get a life bro

32 Likes 3 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by ManBeast: 11:15pm On Nov 13, 2018

CBN should not give them any banking license, useless armrobbery company.

They won't give enough data, if they give service won't be available.

4 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Officialpdpnig: 11:15pm On Nov 13, 2018

Bobbyfreshh:
Zombies now have night shifts lol
Get a life bro

Wailers now work round the clock. You have no life

7 Likes 3 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Okoyeebo: 11:15pm On Nov 13, 2018

Bobbyfreshh:
Zombies now have night shifts lol
Get a life bro

But PDPigz work like the devil their father: to and fro, round the clock.

11 Likes 2 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Bobbyfreshh(m): 11:15pm On Nov 13, 2018

All for money laundering

4 Likes

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by hardywaltz(m): 11:16pm On Nov 13, 2018

So they can do as they please

1 Like

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by new2012: 11:16pm On Nov 13, 2018

Officialpdpnig:
This is why I hate this current version of my party. I thought they said the economic policies of this current fg is chasing away investors?

Why is mtn still further investing?

PDP is cursed as long as they refuse to rebrand, they are cursed.

As long as they remain the liars and thieves as a party then thunder will fire all of them

PDP is cursed and may the curses be on the officialpdp guy's head since he's their representative here

21 Likes 1 Share

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Gepheral: 11:17pm On Nov 13, 2018

Everywhere you go

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Kobicove(m): 11:17pm On Nov 13, 2018

Does MTN want to buy Diamond Bank?

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by MorataFC: 11:18pm On Nov 13, 2018

Hehehe

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Nobody: 11:18pm On Nov 13, 2018

OK. An equivalent of MPesa used in Kenya over the years. Anyway, let them start.

1 Like 1 Share

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by Officialpdpnig: 11:18pm On Nov 13, 2018

new2012:
PDP is cursed and may the curses be on the officialpdp guy's head since he's their representative here

May the curses rest solidly on every lying, thieving member and supporter of PDP and on every crook in PDP n'aha Jesus..isee isee isee

1 Like 2 Shares

Re: MTN To Acquire Banking Licence In Nigeria, Says CEO by MorataFC: 11:18pm On Nov 13, 2018

Gepheral:
Everywhere you go

Nigeria is good for business grin

3 Likes 2 Shares

1 2 3 Reply

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