MTN Nigeria Communications Plc has notified the Nigerian Exchange Limited and the investing public that its fintech subsidiary, MoMo Payment Service Bank Limited, has formally commenced commercial operations.

This follows a successful pilot initiated on 16 May 2022.

By dialing *671# on any network, customers can open a MoMo wallet, send money to any phone number in the country and pay their bills. In addition, MoMo wallets in the future will enable Nigerians in the Diaspora to send money to any phone number in the country, an important feature given Nigeria’s ranking as the destination for the highest remittance inflow in Sub-Saharan Africa.

“We are grateful to the Central Bank of Nigeria (CBN) for their support and guidance through the process,” said Karl Toriola, CEO of MTN Nigeria.

“This is an important milestone for MTN Nigeria in our mission to support government’s drive towards financial inclusion in Nigeria. Not just for those in urban centres and markets, but also people in the rural and remote areas of the country who remain excluded from the financial system,” he added.

Read more: https://moneycentral.com.ng/markets/article/dial-671-to-open-momo-wallet-as-mtn-payment-bank-starts-operations/

Nice. MTN about to dislodge banks in Nigeria.

Ok we'll try it

Don't they have mobile app or something.
Will it be USSD all through?�