This is contained in a notice signed by the Company
Secretary, Mrs Uto Ukpanah posted on the website of the Nigerian Exchange (NGX)
Limited in Lagos on Friday
According to the notice, this is the first step in the
process towards the final approval, subject to certain conditions as stipulated
by the CBN.
The notice said that the decision to issue the final
approval was firmly within the regulatory purview of the CBN and their rights
and judgement in that regard will be respected by MTN Nigeria.
It read: “MTN Nigeria affirms its commitment towards the
financial inclusion of CBN and the Federal Republic of Nigeria and continues to
explore means whereby it can contribute to its fulfillment.
“While we look forward to the eventual grant of a final PSB
licence, we will continue to communicate material information in accordance
with regulatory obligations and guidelines,” it said.
MoMo is an acronym for mobile money which allows registered
agents to perform transactions for customers.
It allows cash transfers for people who do not have bank
accounts and ATM cards.
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