The decision came after MTN Nigeria faced considerable challenges in its fintech sector, specifically with the MoMo Payment Service Bank (PSB) and Y’ello Digital Financial Services (YDFS). Heavy spending on various operational aspects led these divisions into a loss-making phase, prompting the need for a clear separation. The restructuring will allow MTN Nigeria to protect its core telecom business by removing these losses from its consolidated accounts.

In a pivotal moment for the company, MTN Group Fintech B.V. will acquire 60 percent control of MoMo PSB and YDFS, while MTN Nigeria retains a 40 percent stake in the new Financial Holding Company. This division not only marks a significant shift in ownership but also sets the stage for potential capital injection from strategic fintech investors looking to engage with a more streamlined entity.

Key facts about the spin-off:

• MTN Group Fintech B.V. will control 60% of MoMo PSB and YDFS.
• MTN Nigeria retains a 40% stake in the new structure.
• The fintech businesses were independently valued by KPMG at N95.5 billion.
• The transaction is expected to be completed by December 31, 2026.

This restructuring aligns with MTN Group’s broader ‘Ambition 2030’ strategy across Africa, designed to leverage opportunities in digital payments and other fintech solutions. By creating a separate entity for its fintech operations, MTN Nigeria aims to attract investments more quickly and effectively—something that has proven challenging under the previous structure.

The move also addresses regulatory concerns regarding overlaps between telecom and financial regulations. As MTN embarks on final legal, regulatory, and structural processes following shareholder approval, the implications for both the telecom sector and the broader fintech landscape in Nigeria could be profound.

Investors are keenly watching this development. The spin-off not only promises to enhance profitability but may also set a precedent for how telecom companies manage their fintech ventures moving forward. As MTN navigates this transition, it remains focused on positioning itself as a leader in digital payments within Africa’s rapidly evolving market.

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Recently, the banking landscape has seen a surge in digital transformation, with a notable partnership announced between Paymentology and Bank Zero aimed at accelerating access to modern digital banking in South Africa. This partnership reflects a broader trend in the banking sector, where institutions are increasingly adopting digital solutions to meet consumer demands. Aig-Imoukhuede has emphasized the importance of building institutions that command trust and retain relevance in changing times, a sentiment echoed by many industry leaders.

In the context of these developments, Aig-Imoukhuede stated, “Indispensability is not about hierarchy, it is about value,” underscoring the need for banks to provide meaningful services that resonate with customers. This is particularly relevant as studies show that 70% of consumers have used digital wallets such as Apple Pay or Google Pay, and 60% of face-to-face payments are now contactless. Furthermore, a remarkable 90% of SMEs have adopted digital payments, indicating a significant shift in consumer behavior.

On the other hand, Polaris Bank has recently announced limited access to its digital banking platform, VULTe, for scheduled system maintenance. This maintenance will occur nightly from 10:00 p.m. to 8:00 a.m. from April 3 to April 6, 2026. During this period, the alternative platform, PolarisXperience, will remain operational, ensuring that customers still have access to banking services. Olayemi Cardoso, a key figure at the Central Bank of Nigeria (CBN), remarked, “Strengthening the banking system through rigorous supervision and improved corporate governance remains central to the CBN’s priorities,” highlighting the regulatory focus on maintaining a robust banking environment.

As the banking sector evolves, Aig-Imoukhuede’s influence continues to be felt. He recently supported the Nigerian Modernism exhibition at Tate Modern in London, stating, “This is how we inspire the next generation. Not just of artists, but of Africans who know that our stories matter and their voices are heard throughout history.” His commitment to cultural legacy and community empowerment aligns with the broader goals of Access Bank to foster innovation and inclusivity in banking.

Looking ahead, observers suggest that the integration of digital banking solutions will be crucial for Access Bank and its competitors. The CBN has outlined key reform priorities, including tighter fintech regulation and improved payments infrastructure, which are expected to shape the future of banking in Nigeria. As Aig-Imoukhuede believes, the focus should be on building institutions that not only adapt to change but also lead it.

In summary, the future of Access Bank appears to be intertwined with the ongoing digital transformation in the banking sector. With leaders like Aigboje Aig-Imoukhuede at the helm, the bank is well-positioned to navigate these changes and continue its legacy of trust and innovation. Details remain unconfirmed regarding specific future initiatives, but the emphasis on value and customer-centric services will likely guide Access Bank’s strategy moving forward.

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Moniepoint, a prominent payments infrastructure provider, has been steadily expanding its product offerings to better serve the needs of businesses in Nigeria. As the food service market in Nigeria is projected to reach $12.37 billion by 2026, the demand for efficient management solutions has never been higher. This backdrop sets the stage for Moniepoint’s recent acquisition of Orda, a cloud-based restaurant management platform.

The acquisition, announced on March 23, 2026, marks a significant step for Moniepoint as it seeks to integrate Orda’s capabilities into its existing suite of services. Orda, which was founded in 2020 and raised $4.5 million in seed funding in 2022, has established a solid reputation in the restaurant management space, particularly in Nigeria and Kenya. However, the acquisition will only cover Orda’s operations in Nigeria.

As part of the deal, Orda will be rebranded as Moniebook for Restaurants, reflecting its new identity within the Moniepoint ecosystem. This integration aims to embed payment solutions directly into the daily operations of restaurants, thereby reducing reliance on manual processes. Guy Futi, a spokesperson for Moniepoint, emphasized the importance of this transition, stating, “To truly transform the industry, we needed to connect that expertise with comprehensive financial infrastructure.”

With Moniepoint processing over $250 billion in digital payment transactions annually and serving more than 20 million businesses and individuals, the acquisition is poised to enhance the operational efficiency of restaurants across Nigeria. The integration of Orda’s platform is expected to provide restaurant owners with a seamless experience, ensuring that they can focus on their core business without disruptions. Futi assured customers, “For our customers, we are assuring a smooth transition with no disruption to the platform and retained access to the support you are used to.”

As the food service industry in Africa is valued at about $50 billion, the strategic move by Moniepoint to acquire Orda aligns with the growing trend of digital transformation in the sector. The food industry is not just about feeding people; it is a major source of jobs and daily survival for many Africans, as highlighted by Tosin Eniolorunda, another key figure in the industry.

Details regarding the financial terms of the acquisition have not been disclosed, but it has been confirmed that approximately 25 members of Orda’s team will join Moniepoint as part of this transition. This infusion of talent is expected to bolster Moniepoint’s capabilities in the restaurant management domain.

Looking ahead, observers anticipate that this acquisition will not only streamline operations for restaurant owners but also enhance customer experiences through improved payment solutions. As Moniepoint continues to innovate and expand its offerings, the integration of Orda’s technology could set a new standard for restaurant management in Nigeria, paving the way for further growth in the food service market.

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