Business
MTN Gets Licence To Compete With Banks, POS Operators
The Central Bank of Nigeria (CBN) has granted MTN a final approval to operate as Momo Payment Service Bank Limited (Momo PSB).
This was disclosed on Monday in a press release titled, “The Central Bank of Nigeria Grants Final Approval for Momo Payment Service Bank Limited to Commence Operations”, signed by Uro Ukpanah, the Company’s Secretary.
“MTN Nigeria Communications PIc (MTN Nigeria) announces the receipt of a letter dated 8 April 2022 from the CBN, addressed to Momo PSB conveying final approval to commence operations”, the statement said in part.
It, however, did not disclose the date of commencement, saying “the date of commencement will be communicated to the CBN in accordance with its requirements”.
CBN in its guidelines published on its website said the key objective of issuing PSB licenses was to boost financial inclusion, especially in rural areas and facilitate transactions.
“To enhance financial inclusion in rural areas by increasing access to deposit products and payment/remittance services to small businesses, low-income households and other entities through high-volume low-value transactions in a secured technology-driven environment,” the CBN stated.
The new move by MTN Nigeria will see it competing with traditional banks and Point Of Sales (POS) operators for market shares.
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FG Fixes Uniform Prices for Housing Units Nationwide, Approves N12.5m For 3-bedroom Bungalow ……..Says Move To Enhance Affordability, Ensures Fairness
“The approved selling prices are as follows: One-bedroom semi-detached bungalow, N8.5 million; two-bedroom semi-detached bungalow: N11.5 million and three-bedroom semi-detached bungalow, N12.5 million,” the statement added.
Minister of Housing and Urban Development, Ahmed Dangiwa, stated that priority in the allocation of the housing units would be given to low and middle-income earners, civil servants at all levels of government, employees in the organised private sector with verifiable sources of income, and Nigerians in the Diaspora who wish to own homes in the country.
The Permanent Secretary in the ministry, Dr. Shuaib Belgore, explained that several payment options have been provided to make the houses affordable and flexible. These include outright (full) payment, mortgage, rent-to-own scheme, and installment payment plans.
The ministry further announced that the sale of the completed housing units across the northern and southern regions will soon commence.
“Applications can be made through the Renewed Hope Housing online portal at www.renewedhopehomes.fmhud.
The ministry, however, clarified that the approved prices apply strictly to the Renewed Hope Housing Estates which are funded through the ministry’s budgetary allocation, as against the Renewed Hope Cities in Karsana Abuja, Janguza Kano, Ibeju Lekki, Lagos which are being funded through a Public Private Partnership (PPP).
