- Following an expenditure involving millions of dollar, MTN Nigeria has acquired a 7.17% minority interest in Mobile Money Payment Service Bank
- The telecommunications company announced that the deal was finalised and that MTN Nigeria now fully owns MoMo PSB
- The telecom company was able to commence operations in 2022 after receiving the final permission for its banking license
Legit.ng journalist Zainab Iwayemi has over 3-year-experience covering the Economy, Technology, and Capital Market.
MTN Nigeria has successfully purchased a 7.17% minority stake in Mobile Money Payment Service Bank (MoMo PSB), which was formerly owned by Acxani Capital.
The telecom business announced on the Nigerian Stock Exchange that it had completed the transaction and that MTN Nigeria now owns MoMo PSB in its entirety.
In a notice on the NGX, it stated:
“Management believes this transaction …