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MoMo Payment Service Bank (MoMo PSB), the financial technology arm of MTN Nigeria, has appointed Bode Abifarin as its Managing Director and Chief Executive Officer, with the new role taking effect from September 1, 2026.
Abifarin joins the payment service bank with more than 23 years of experience across financial services, consulting, digital payments, fintech, strategy, operations and business transformation.
Before joining MoMo PSB, she served as Chief Operating Officer at Flutterwave, where she was involved in the company’s expansion across multiple markets, development of scalable operating structures, regulatory engagement and the delivery of payment solutions designed to broaden access to financial services.
Leadership Comes as MoMo Targets Next Growth Phase
MoMo PSB said Abifarin’s combination of fintech and financial-services experience would support the company’s next phase of expansion.
Serigne Dioum, CEO of MTN Group Fintech, said her background in strategic leadership, execution, innovation and operational transformation makes her suited to the company’s growth ambitions.
MoMo PSB Board Chairman Michael Ajukwu similarly pointed to Abifarin’s experience in payments, digital transformation and stakeholder engagement, particularly her focus on financial inclusion.
For Abifarin, the appointment comes at a significant point for Nigeria’s digital financial-services sector.
She said her priority would be to work with MoMo PSB’s employees, regulators, partners and other stakeholders to expand access to secure and customer-focused digital financial products for individuals, businesses and communities.
From KPMG to Flutterwave
Abifarin spent 15 years at KPMG, eventually becoming an Associate Director in its Management Consulting practice.
During that period, she advised financial institutions and other organisations across Africa on areas including strategy, transformation, customer experience and business growth.
She later founded Strata Advisory, a technology-focused advisory business supporting companies seeking to scale and build sustainable operations.
Her career has also earned several industry recognitions, including appearances among the Top 100 Women in Global Fintech, the Inspiring 50 Women Shaping the Future of Technology in Africa, and the 30 Most Powerful Nigerian Women in Finance.
MTN Reshapes Its Fintech Business
Abifarin’s appointment comes as MTN continues to reorganise its financial-services operations.
In April 2026, MTN Nigeria announced plans to transfer a 60% stake in MoMo PSB and Y’ello Digital Financial Services (YDF) to MTN Group for N152.06 billion, with MTN Nigeria expected to retain the remaining 40%.
The restructuring is intended to create a more focused and scalable fintech operation within the wider MTN Group.
MTN Group has also indicated that it is exploring opportunities to expand beyond payments, including potential banking licences in selected markets, as it identifies lending and credit as important future growth areas for its financial-services business.
Financial Inclusion at the Centre
Abifarin’s immediate mandate will come against the backdrop of rising demand for digital financial services in Nigeria.
The country’s growing reliance on mobile connectivity is creating a larger addressable market for digital payments and other financial products.
Recent industry figures cited by Nairametrics showed that Nigerian telecom subscribers consumed a record 1.5 million terabytes of data in May 2026, while active mobile subscriptions increased from 154.3 million in April to 157 million in May.
MTN accounted for 83.5 million internet subscriptions during the month, maintaining its position as Nigeria’s largest internet provider.
A New Chapter for MoMo PSB
With Abifarin set to assume leadership on September 1, MoMo PSB enters a new phase at a time when competition in Nigeria’s digital financial-services market is intensifying.
Her mandate will extend beyond expanding transactions to strengthening the bank’s digital offerings, improving customer value and widening access to financial services.
The appointment also places an experienced fintech operator at the helm as MTN seeks to turn its extensive telecommunications footprint into a larger financial-services ecosystem.
For MoMo PSB, the coming period will test how effectively it can combine MTN’s scale and distribution network with technology, financial products and deeper financial inclusion.
