• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Thursday, September 11, 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
Reading Time: 2 mins read
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.”

 

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.

RELATED

NIMR Faces Power Outage Over ₦38m Debt

GenCo Tripping Triggers National Grid Collapse — Systems Operator

10 hours ago
Agusto & Co Rates Heirs Insurance Group’s Life, General Businesses ‘A1’

Agusto & Co Rates Heirs Insurance Group’s Life, General Businesses ‘A1’

17 hours ago

 

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.

Join Our WhatsApp Channel

Tags: Central Bank of Nigeria (CBN)
SendShare10201Tweet6376Share
ADVERTISEMENT
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

NIMR Faces Power Outage Over ₦38m Debt
Business

GenCo Tripping Triggers National Grid Collapse — Systems Operator

2025/09/10
Agusto & Co Rates Heirs Insurance Group’s Life, General Businesses ‘A1’
Business

Agusto & Co Rates Heirs Insurance Group’s Life, General Businesses ‘A1’

2025/09/10
Agama Assumes Office As Acting SEC DG
Business

Leverage Capital Market Opportunities To Raise Funds, SEC Urges Insurers

2025/09/10
Insurance Firms Begin Self-prescribed Recapitalisation As Minimum Capital Controversy Rages
Business

Guinea Insurance Premium Hits N2.94bn As Shareholders Approve Recapitalisation Plan

2025/09/10
Tourism Ministry, NIHOTOUR Partner To Upskill Tour Operators In Ekiti
Business

‘Travel Agencies’ Group Achieves 50% Self-regulatory Ecosystem’

2025/09/10
United Nigeria Plans Routes Expansion, Signs Agreement For 6 Aircraft With Southwest Airlines
Business

United Nigeria Plans Routes Expansion, Signs Agreement For 6 Aircraft With Southwest Airlines

2025/09/10
Leadership Conference advertisement

LATEST

OOU Loses Academic Gowns, Valuables In Fire Incident

DRC Ebola Outbreak: Lagos Activates Response System, Tightens Screening At Airport

Real Reasons I Won’t Honour Visa Invitation Re-interview By US Consulate — Soyinka

Meta Takes Down FIJ’s Facebook Page

Nigerian Government Expresses Concern Over Israeli Airstrike In Qatar, Calls For Restraint

Nigerian Software Engineer Loses $260,000 Job Offer Over Nationality

‘Nigeria Has Become A Killing Field, Declare State Of Emergency Now’, Ex-GOC Ali-Keffi Tells Tinubu

Why Subsidy Removal Savings Not Enough To Transform Economy – Oyedele

Tinubu Gives Marching Order On Further Crash Of Food Prices

Nigeria Lacks Enough Troops To Fight Insecurity, Says Ex-GOC Ali-Keffi

© 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.