Country guides

Launching mobile money in Nigeria

Nigeria is Africa's largest fintech market, with instant bank transfers everywhere and fast-growing wallets and agent networks. The Central Bank of Nigeria (CBN) licenses mobile money operators, payment service banks and other payment companies.

This guide is also available in:English Français العربية Hausa Yorùbá

Customers expect instant transfers to any bank account. A new wallet must connect to the national instant payment system and offer agents in every neighbourhood.

Nigeria has many languages. Apps and USSD in English, Hausa and Yoruba, and Igbo when needed, reach customers far beyond the big cities.

The rules in brief

Regulator: Central Bank of Nigeria (CBN)
Main texts: CBN regulatory framework for mobile money services and guidelines on licence categories for payment companies
Licence routes: Mobile money operator (MMO) licence, payment service bank (PSB), or a partnership with a bank or licensed MMO
Minimum capital: N2 billion shareholders' funds for an MMO licence
Interoperability: NIBSS Instant Payment (NIP)
KYC and limits: Three-tier KYC with BVN or NIN checks; limits per tier set by the CBN
Currency: Nigerian naira (NGN)

Summary of published texts, checked on 2026-10-16. Rules change: confirm the current text with the regulator or your lawyer before you apply.

Payment rails to connect

Banks via the national instant switch
Payment service banks
Wallets
Cards, local and international

NigeriaCurrency: NGN

Methods in Nigeria

Cards
Debit and credit cards through your acquirer
Adapter ready
Wallet
Your own wallet (with our mobile money product)
Adapter ready
Bank transfer
Account to account, through your bank partners
Adapter ready

Payouts to: bank account

Each row is a method type; the networks behind it are set up in your back office as you connect them. Cards go through the acquirer you choose. The list grows as you sign rails.

Launching with PesaBridge, step by step

Choose your licence route: your own licence, a partner bank or e-money issuer, or a licensed aggregator.

Build your proposal online: countries, payment rails and plan, in 10 minutes.

We set up the platform, your brand and the payment rails while you finish the licence file.

Test with a pilot group of customers, agents and merchants, and with the regulator where required.

Go live, recruit agents and merchants, and add services and countries as you grow.

Questions

Can we start without our own MMO licence?

Yes. Many fintechs launch with a partner bank or licensed MMO and apply for their own licence later.

Do you support three-tier KYC?

Yes. Each tier has its own limits, and BVN or NIN checks connect through a verification provider.

Can the apps run in Hausa and Yoruba?

Yes. The apps run in English, Hausa and Yoruba.

Get a proposal for Nigeria

Pick Nigeria in the proposal builder and get your price, plan and timeline in 10 minutes.

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