MTN Nigeria's MoMo PSB appoints former Flutterwave COO Bode Abifarin as its new Managing Director and CEO.
TL;DR
Bode Abifarin will officially assume her role as CEO of MoMo Payment Service Bank on September 1.
Abifarin brings over 23 years of experience, including serving as COO at Flutterwave and 15 years at KPMG.
Intelligence
The appointment comes as MTN Nigeria plans to transfer a 60% stake in MoMo PSB to MTN Group for ₦152.06 billion.
The appointment of a seasoned fintech executive signals MoMo PSB's intent to aggressively scale its mobile money footprint and regulatory engagement in Nigeria.
For competing fintech startups and traditional banks, Abifarin's leadership could intensify competition in the digital payments space over the next 12 to 24 months.
Furthermore, her background suggests MoMo PSB will focus heavily on scaling secure, customer-focused financial products.
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