List Of Payment Service Banks In Nigeria (Check The List)

With the advent of information technology in the banking and financial service ecosystem globally, telecommunication companies are beginning to find their way into the financial sector.

And of course, this is possible due to the Central Bank of Nigeria (CBN’s) approval of operational licenses to some payment service banks (PSB).

Recall that the Nigerian government in 2009 introduced the Shared Agent Network Expansion Service (SANEF) through the Central Bank of Nigeria.

The introduction of the SANEF was necessitated by the revolution in financial technologies and in a bid for the financial inclusion of the unbanked population.

On Monday, April 11, MTN Nigeria received the CBN’s final approval to operate as Momo Payment Service Bank Limited (Momo PSB).

MTN and Airtel Africa had recently received an Approval in Principle (AIP) from the Central Bank of Nigeria to operate as Payment Service Banks as the latter received the CBN’s final approval today to automatically join the list of Payment Service Banks In Nigeria.

With this approval, MTN Nigeria will be joining Moneymaster PSB, a subsidiary of Glo and 9PSB, a subsidiary of 9mobile, to operate in the fintech space.

The list below, however, outlines the payment service banks approved by the CBN and which were contained in a circular released in 2021.

1. Mastermoney PSB

2. 9 PSB

3. Hope PSB

4. MTN

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  Oil Price Falls To $70 A Barrel Amid Surge In Omicron Variant
• PBA Reporter

  Global Community Steps Up With $93 Billion Support Package To Boost Poorest Countries
• PBA Reporter

  FAAC Shares N675.946bn To FG, States, LGs
• PBA Reporter

  Reps Summon Aregbesola, NIS Boss Over Passport Contracts
• PBA Reporter

  Oil Price Drops To $73 On Omicron Concerns
• PBA Reporter

  SEC Begins Charging Regulatory Fee On Fixed Income Transactions
• PBA Reporter

  2023: Buhari Discloses His Next Line Of Action After Presidential Election
• PBA Reporter

  Buhari Okays Payment Of Salaries Withheld Over Health Workers’ Strike
• PBA Reporter

  DMO Offers 10-Year N250bn Sukuk For Subscription
• PBA Reporter

  World Bank Rolls Out N329.53bn Cash Transfer Programme In Nigeria
• PBA Reporter

  UK Lifts Suspension On Processing Of Visitor Visa Applications From Nigeria
• PBA Reporter

  Terminate Passport Production Contract With Foreign Firm – Reps Tell FG
• PBA Reporter

  FG Debt Servicing Gulps N2.49tn In Nine Months – DMO
• PBA Reporter

  Food Prices Continue To Soar As Inflation Dropped in November
• PBA Reporter

  Why Buhari Is Reluctant To Assent To Electoral Bill – Falana
• PBA Reporter

  Omicron: Why We Removed Nigeria From Travel Red List – UK
• PBA Reporter

  Nigeria Secures $210m AfDB Loan To Boost Agricultural Sector
• PBA Reporter

  Nigeria’s Debt Rises By N2.54tn In Three Months – DMO
• PBA Reporter

  Nigeria’s Oil Production Increases By 2.55 Million Barrels – OPEC
• PBA Reporter

  BREAKING: UK Removes Nigeria, 10 Others From Red List
• PBA Reporter

  FG Hints On Imposing New Taxes, Tariffs, Gives Reasons
• PBA Reporter

  Breaking: Buhari Nominates New Minister To Replace Sacked Power Minister
• PBA Reporter

  Finance Bill: Our Tax System Must Work For Every Nigerian – FIRS
• PBA Reporter

  Banks Record N1.3tn Non-Performing Loans – CBN
• PBA Reporter

  NNPC To Stop Rising Cooking Gas Price, Increase Supply
• PBA Reporter

  Presidency Says No TIN-For-Bank Account Requirement In Finance Bill
• PBA Reporter

  UK’s Transport Secretary Intervenes In Travel Ban
• PBA Reporter

  FG Threatens To Put Canada, UK, Others On Travel Ban
• PBA Reporter

  UK Vows Not To Reverse Travel Ban Over FG’s Threat
• PBA Reporter

  Why FG Reduced Emirates’ Flights To Once Weekly – NCAA
• PBA Reporter

  UK Optimistic Buhari Will Sign Electoral Bill
• PBA Reporter

  Six Reasons Buhari Rejected Direct Primaries In New Electoral Bill
• PBA Reporter

  Power Generation Drops By 1,119.6MW, Sector’s Growth Falls By 45%
• PBA Reporter

  IMF Says Crypto May Displace Local Currencies In Developing Countries
• PBA Reporter

  CBN To Give 10,000 Bauchi Farmers N5.7bn For Dry Season Farming
• PBA Reporter

  COVID-19: FG Begins Giving Booster Shots, US Donates 2.5 Million Doses
• PBA Reporter

  Omicron Variant: NACCIMA Condemns Travel Bans On Nigeria
• PBA Reporter

  CBN Considers Adoption Of eNaira As Payment Gateway
• PBA Reporter

  Anti-Corruption Day: Nigeria Reaffirms Commitment To Rooting Out Corruption
• PBA Reporter

  Minister, Aiteo Give Update On One Month Old Oil Spill In Nembe
• PBA Reporter

  Reps Take Major Action As CBN, AMCON, Others Shun Budget Defence
• PBA Reporter

  Lagosians To Present COVID-19 Vaccination Cards To Attend Social Gatherings
• PBA Reporter

  Omicron: Economists Speak On Travel Bans, Way Forward
• PBA Reporter

  DMO Supports Naira Exchange Rate With $15.4bn
• PBA Reporter

  Nigeria’s Trade Deficit Rises 62% To N3trn In Q3 2021 -NBS
• PBA Reporter

  Omicron: Airlines Risk Ban As NCAA Lists New Boarding Rules
• PBA Reporter

  IMF Hints On Factors Responsible For Rising Inflation In Nigeria
• PBA Reporter

  BREAKING: Nigeria Confirms 3 Additional Cases Of Omicron
• PBA Reporter

  3 Students In Police Net Over Sylvester Oromoni’s Death
• PBA Reporter

  BREAKING: Buhari Writes Senate, Demands Passage Of Finance Bill 2021
• PBA Reporter

  Omicron: Lai Mohammed Says UK Travel Ban On Nigeria Unjust
• PBA Reporter

  Global Response to Omicron An Apartheid, Says UN Chief Guterres
• PBA Reporter

  Nigeria Borrows N8.311trillion From Pension Funds, Experts Cry Out
• PBA Reporter

  Omicron: AfDB President Describes Travel Ban On African Countries As Unfair, Discriminatory
• PBA Reporter

  Travellers Stranded In Lagos, Abuja Airports Over Omicron
• PBA Reporter

  Nigeria Records Zero Revenue From Oil Export – NNPC
• PBA Reporter

  CBN Backs Bankers’ Committee $100 Million Commitment To Revamp National Arts Theatre
• PBA Reporter

  Omicron Variant: FG Finally Reacts To UK Travel Ban On Nigeria
• PBA Reporter

  Aminu Kano Memorial Lecture: Fayemi Says Secession Not Solution To Nigeria’s Challenges
• PBA Reporter

  Aminu Kano Memorial Lecture: The Nigeria Agenda By Kayode Fayemi (Photos)
• PBA Reporter

  AfDB Attracted $5.6 Billion In Investments To Agricultural Sector – Akinwumi Adesina
• PBA Reporter

  South-East Governors Raise Alarm, Say Killings Beyond IPOB
• PBA Reporter

  WHO Chief Scientist Urges People Not To Panic Over Omicron Variant
• PBA Reporter

  AfCFTA To Grow Africa’s GDP To $420 Billion By 2025 – Ambassador Eloho Otobo
• PBA Reporter

  Omicron: States Spring Into Action, Describe Funding As Major Obstacle
• PBA Reporter

  Omicron Variant Spreads To 23 Countries – WHO
• PBA Reporter

  NCAA Finally Approves Commencement Of Commercial Flights In Anambra Airport
• PBA Reporter

  LCCI Elects Olawale-Cole As 24th President
• PBA Reporter

  AfCFTA: Key Takeaways From 5th Edition Of Prime Business Africa’s SEEDS (Video)
• PBA Reporter

  CBN Hints On How Banks Will Play Critical Roles In Growing Nigerian Economy
• PBA Reporter

  Nigerian External Reserves Dropped By $610m In November – CBN
• PBA Reporter

  South African President Ramaphosa’s Visit Successful Despite Omicron Scare – Buhari
• PBA Reporter

  BREAKING: Buhari Receives South African President Ramaphosa Amid Omicron Variant
• PBA Reporter

  MTN Nigeria Launches 575 Million Shares To Retail Investors At N169 Per share
• PBA Reporter

  BREAKING: NCDC Confirms First Case of Omicron Variant In Nigeria
• PBA Reporter

  ECOWAS Commission, UNECA Organize Technical Review Of Draft Regional AfCFTA Implementation Strategy
• PBA Reporter

  Fidelity Bank Appoints New Independent Non-Executive Director
• PBA Reporter

  FG’s Capital Market Debt Servicing Gulps N2.18tn In 10 Months – Report
• PBA Reporter

  How Fintechs can adapt operations to the post-Covid business climate – Expert
• PBA Reporter

  NIS Projected Passport Revenue Drops By 96% – Report
• PBA Reporter

  Twitter Co-founder Jack Dorsey Steps Down As CEO
• PBA Reporter

  COVID-19: NCDC Says It’s Monitoring Emerging Evidence On Omicron Variant
• PBA Reporter

  WTO Postpones Conference Over New COVID-19 Variant
• PBA Reporter

  World Bank Says Nigeria’s Exchange Rate Policy Discourages Investors
• PBA Reporter

  CBN Plans To Set Up Finance Centre At Eko Atlantic City In 2022
• PBA Reporter

  COVID-19: Nigerian Govt Directs All Workers To Resume December
• PBA Reporter

  How Deeper Life Church Member Organised Pastor’s Kidnap – Suspect
• PBA Reporter

  BREAKING: Diezani Loses Bid To Recover $40m Jewellery From FG
• PBA Reporter

  Nigeria Air To Begin Operations With Three Rented Planes – FG
• PBA Reporter

  CBN Awards N5m Loans To Graduates Under New Scheme
• PBA Reporter

  Utomi Hints On How Businesses Can Survive Volatility of Nigerian Economy
• PBA Reporter

  Flour Mills, Honeywell’s Market Capitalisation Rises By 34%
• PBA Reporter

  Finance Minister Says Nigeria Losing N250bn Monthly To Fuel Subsidy
• PBA Reporter

  ICT’s Contribution To Nigeria’s GDP Hits N8.13tn In Q3 – NBS
• PBA Reporter

  No Court Order Restraining Acquisition – Flour Mills, Honeywell
• PBA Reporter

  BREAKING: FG Announces Date For Air Nigeria Official Take-off
• PBA Reporter

  Nigeria’s Top 5 Banks’ Earnings Rise Above N1.5trn, Profit Up By 39.4%
• PBA Reporter

  Ecobank Sends Strong Warning To Flour Mills Over Honeywell Deal
• PBA Reporter

  Dana Air Appoints Sukhjinder Mann As New Deputy CEO
• PBA Reporter

  CBN Retains MPR At 11.5%, Holds Other Parameters Constant
• PBA Reporter

  BREAKING: No Life Was Lost At Lekki Tollgate – Lai Mohammed Faults Lagos Panel Report
• PBA Reporter

  Wike to FG: VAT Suit Will Strengthen Rule Of Law
• PBA Reporter

  Capital Inflow Crashes By 80% As Foreign Investors Shun Nigerian Market
• PBA Reporter

  FairMoney MFB Disburses Over N71 Billion In Loans In 2021
• PBA Reporter

  Ikeja Electric Invests Over N200M On Safety Equipment In 12 Months
• PBA Reporter

  JUST IN: Flour Mills Buys Honeywell For N80bn
• PBA Reporter

  CAC projects to take N24.5bn from registration fees, others
• PBA Reporter

  Net Foreign Exchange Inflow Falls 31% To $21.8bn – CBN
• PBA Reporter

  Lagos Attracts 80% Of Investments Coming To Nigeria – Sanwo-Olu
• PBA Reporter

  Lagos Needs $15 Billion Over 5 Years For Development – Sanwo-Olu
• PBA Reporter

  Again, Emirates Airline Extends Flights Suspension Till Nov 30
• PBA Reporter

  Fidelity Bank’s Nine Month Profit Increases By 31.4%
• PBA Reporter

  FG Approves N656 Billion Fresh Loan For 36 States
• PBA Reporter

  Nigeria’s GDP Growth Falls To 4.03% in Q3 – NBS reports
• PBA Reporter

  Religious Intolerance: HURIWA Faults US On Delisting Nigeria Under Buhari
• PBA Reporter

  US Removes Nigeria From Religious Violators’ List
• PBA Reporter

  FAAC: FG, States, LGs Share N671.910 Billion In October
• PBA Reporter

  Senate Criticises SEC For Spending Earnings On Salaries, Emoluments
• PBA Reporter

  Passengers Cry Out As Railway Workers Begin Strike
• PBA Reporter

  Emefiele Says Crypto Firms Practise High-Level Of Illegality
• PBA Reporter

  Delta Airlines Announces Surge In Bookings As US Opens Up
• PBA Reporter

  Two Gas Explosions In Five Months Raise Concerns Among Lagos Residents
• PBA Reporter

  Microsoft ADC Announces Date For First Skill-Based User Group Event
• PBA Reporter

  Governor Obiano Appoints Theodora Igwegbe As Anambra New Head Of Service
• PBA Reporter

  UPDATE: Death Toll Hits 5 As Gas Explosion Rocks Ladipo In Lagos
• PBA Reporter

  Again, NCC Alerts Of Hacking Group Targeting Telcos, ISPs
• PBA Reporter

  Chevron, ExxonMobil, Others To Pay NNPC N156bn For Crude Exports – Report
• PBA Reporter

  AfCFTA Will Soon Become World’s Largest Free Trade Area – Akinwumi Adesina
• PBA Reporter

  AfDB Calls For Investments In Health Infrastructure From Private Sector
• PBA Reporter

  Capital Market Achieving Financial Inclusion For Nigerians – NGX CEO
• PBA Reporter

  Finance Minister Says Nigeria’s Debt To GDP Still Low At 33%
• PBA Reporter

  COREN Sets Up Nine-Member Panel On IKoyi Building Collapse
• PBA Reporter

  Access Bank Unveils 6th AccessX Experience Centre In Lagos, Others
• PBA Reporter

  Kuda Bank Threatens To Close Accounts Engaged In Cryptocurrency Transactions
• PBA Reporter

  Buhari Commends Elumelu For Training, Funding African Entrepreneurs
• PBA Reporter

  OPEC Revises 2021 Global Oil Demand To 5.7 Million Barrels Daily
• PBA Reporter

  Nigeria Loses Africa’s Top Oil Producer Position To Libya
• PBA Reporter

  Delta Assembly OKays Okowa’s N18.7bn Loan From CBN
• PBA Reporter

  FEC Approves 2021-2025 National Development Plan, Projects N348.7tn Investments
• PBA Reporter

  Nigeria’s Debt Stock Hits N42.7tn As Senate Approves Fresh $16bn Loans
• PBA Reporter

  Nigeria, Others Need $429bn External Financial Support – World Bank
• PBA Reporter

  Stock Market Records Decline After Days Of Gaining, Investors Lose N12bn
• PBA Reporter

  Zenith Bank Alerts Customers On Fake 30th Anniversary Online Giveaway
• PBA Reporter

  Unemployment: Population Growth Rate Exceeds Economy Capacity – Osinbajo
• PBA Reporter

  Revenue Sharing: FG Proposes 3.13% Increase In LG Allocation
• PBA Reporter

  NBS: 36 States, FCT Recorded N849bn Revenue In 1H 2021
• PBA Reporter

  International Airlines: Aviation Fuel Price Jumps By 70%
• PBA Reporter

  MTN, Airtel Lead Top Five Stocks As Investors Gain N252.41bn
• PBA Reporter

  Bitcoin Price Skyrockets To Record High Of More Than $68,000
• PBA Reporter

  Ikoyi Building Collapse: How Developer Ignored Instruction To Insure Property
• PBA Reporter

  Uber Launches Uber Connect In Lagos To Affordably Send Goods
• PBA Reporter

  Stock Market Begins On Positive Note As Investors Gain N643bn In One Day
• PBA Reporter

  Moving Goods Locally In Nigeria Over 500% Costlier Than US – World Bank
• PBA Reporter

  Nigeria’s Private Sector Borrowing Rises to N33.8 Trillion – Report
• PBA Reporter

  Private sector activity continues to expand but intense cost pressures weigh on growth – Stanbic IBTC MPI report
• PBA Reporter

  Stock market closes on negative note as investors take profits in banking
• PBA Reporter

  Nigeria Records $10.1b Investment Announcement – Minister
• PBA Reporter

  Pensioners Asked to Allow Operators to Manage 75% of Retirees’ Balance
• PBA Reporter

  100 for 100 Policy: CBN Fixes N5bn Maximum Loan Limit
• PBA Reporter

  MTN, Airtel Receive Approval to Operate Payment Service Bank
• PBA Reporter

  POS Transactions in Nigeria Drop to N552.3 Billion in October
• PBA Reporter

  Doroki in Partnership with Paga, Visa to Transform Transaction of SMBs
• PBA Reporter

  Banks to stop accepting old £20, £50 notes Dec 31
• PBA Reporter

  Facebook Deletes Ethiopia PM’s Post That Urged Citizens to ‘Bury’ Rebels
• PBA Reporter

  FEC Okays N33.8bn for Installation of Baggage Handling, Others at Lagos, Abuja Airports
• PBA Reporter

  NBET Hints on Why Nigeria Sells Electricity to Neighbouring Countries
• PBA Reporter

  Payments Revenue Pool On Track To Nearly Double By 2030
• PBA Reporter

  Exclusive: 7 KPIs That Boost News Websites From Zero To Top Position