• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Monday, June 30, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Fintech Gets CBN Approval-in-principle For Digital Payments Operations

by Royal Ibeh
3 years ago
in Business
CBN
Share on WhatsAppShare on FacebookShare on XTelegram

The Central Bank of Nigeria (CBN) has granted an Approval In Principle (AIP) to Abeg Technologies Limited, a product of Piggytech Global Limited, as a Mobile Money Operator (MMO) in Nigeria.

 

Advertisement

With the platform becoming Nigeria’s first social commerce platform to secure the CBN’s AIP for an MMO license, the announcement marks a crucial development in the company’s bid to support seamless payments and online commerce throughout the country.

 

Commenting on the approval, co-founder and COO of Piggytech Global Limited, Odunayo Eweniyi stated that, “we are incredibly pleased that PocketApp has been granted an approval in principle as a Mobile Money Operator in Nigeria. We will now work closely with the Central Bank to meet all its conditions to receive the full operating license, enabling us to continue growing and expanding the scope of our social payments, social commerce and other digital financial products to reach millions of Nigerian micro-entrepreneurs.”

 

RELATED

Deploying AI Will Not Cause Job Loss In Nigeria – Expert

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

43 minutes ago
FirstBank Customers Get N93m In ‘Win Big Promo’

FirstBank Launches Facial Recognition On Mobile App

46 minutes ago

PocketApp affirms its commitment to the financial inclusion agenda of the CBN and the federal Republic of Nigeria and will continue to make it easier for our teeming young population to seamlessly carry out their transactions, while saving them costs and giving them more access to get paid.

 

The Mobile Money Operator license will enable the company to carry out activities around: Wallet Creation and Management, E-money issuing, USSD, agent recruitment and management, pool account management, non-bank acquiring as stipulated in the regulatory requirements for non-bank merchant acquiring in Nigeria, card acquiring, and any other activities that may be permitted by the CBN.

 

Speaking on the company’s evolution, COO of PocketApp, Patricia Adoga stated that, “for the last 18 months, we have been focused on building the core infrastructure that will enable secure social commerce and payments at scale. We believe that social commerce will thrive better in a more trusted environment. So we added escrow to our payment infrastructure, protecting buyers and sellers and many other features, ensuring a smooth shopping experience on the app.”

 

The app was launched as Abeg App in 2021. New as PocketApp, the payments app has about 2 million users to date. The company initially started its journey as a payment platform for sending and receiving money. It has since ventured into a full social commerce app, connecting buyers and sellers across Nigeria and soon Africa.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

BREAKING NEWS: Nigerians can now earn US Dollars from the comfort of their homes with Ultra-Premium domains, acquire them for as low as $1700 and profit as much as $25,000. Click here to learn how you can earn US Dollars consistently.


Tags: Central Bank of Nigeria (CBN)
SendShareTweetShare
Previous Post

Ekiti Election: No Pregnant Woman In Our Custody – EFCC

Next Post

Noor Takaful Policyholders Get N109m Surplus

Royal Ibeh

Royal Ibeh

You May Like

Deploying AI Will Not Cause Job Loss In Nigeria – Expert
Business

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

2025/06/30
FirstBank Customers Get N93m In ‘Win Big Promo’
Business

FirstBank Launches Facial Recognition On Mobile App

2025/06/30
Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade
Business

Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade

2025/06/30
Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger
Business

Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger

2025/06/30
Council Targets Accelerated Sugar Project Devt In 2025
Business

Poor Backward Integration Programme Performance To Cost Sugar Firms Import Quotas

2025/06/30
Bbb+ Rating
Business

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

2025/06/30
Leadership Conference advertisement

LATEST

Gov Yusuf Leads Delegation To Dantata’s Burial In Saudi Arabia

FIRS Gifts MSME Operator With Cash, Car For Tax Compliance

Expert Introduces Lightweight AI-based System For Early Aviation Failure Detection

FirstBank Launches Facial Recognition On Mobile App

Group To Drive Africa’s Tech-led Industrial Revolution, Offers Tips To Unlock $450bn Intra-African Trade

Oilserv Targets December Completion Of 303km As AKK Pipeline Crosses River Niger

Poor Backward Integration Programme Performance To Cost Sugar Firms Import Quotas

TAJBank Sustains Industry Feat, Pays 3rd Dividend In 5 Years

Terra Cube Unveils “Unwrap Smiles Squad”

‘Dangote’s Investment Of N720bn On CNG Trucks To Save Nigerians N1.7trn’

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.