deposit 5000
slot deposit 5000
slot gacor situs toto
togel online
toto 4d
situs slot toto 4ddemo slot gacorslot 88
slot gacor slot gacor
slot gacor
brenjitu
slot gacor
situs toto
situs toto
SITUS TOTO
situs toto
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot gacor
slot pulsa
hongkong lotto
slot gacor
brenjitu
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
slot 4d

MTN Nigeria acquires minority stake in MoMo PSB for N6.95bn

Onwubuke Melvin
Onwubuke Melvin

MTN Nigeria has acquired the minority shares in MoMo Payment Service Bank (MoMo PSB) for N6.95 billion.

This was disclosed in a statement the company filed with NGX on Monday.

According to the statement, MTN Nigeria has completed the acquisition of the 7.17% stake in MoMo PSB held by Acxani Capital; making MoMo PSB a solely owned subsidiary of MTN Nigeria.

The CBN granted a licence to MTN Nigeria’s fintech solution, MoMo PSB, in 2022. Acxani Capital owned 20% of the company, while MTN Nigeria owned 80% of it.

In May 2024, Acxani suggested selling their 20% ownership in MoMo; however, the stake was reduced to 7.17%.

Acxani Capital and MTN Nigeria reached a N6.95 billion deal for the 7.17% share. The purchase led to a N12.97 billion decline in the MTN’s “Other Reserves”, as the group spent N16.35 billion on the acquisition of the minority stake, while it acquired assets worth N3.38 billion from Acxani Capital.

The N6.95 billion paid to Acxani and the N9.4 billion invested in MoMo were included in the N16.35 billion spent as purchase consideration.

According to reports at the end of the second quarter of 2024, MoMo PSB’s active wallet reached 5.5 million, up 701,000 from the previous quarter.

Munir Ja’afaru, a prince of the Zazzau Emirate and a former director of the now-defunct NITEL, is the owner of Acxani Capital.


TAGGED:
Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

situs totoslot thailand situs totoslot gacor situs toto slot online situs toto demo slot gacor situs slot gacorsitus 4d situs totoslot gacorslot gacorslot gacorslot gacorslot gacor
slot gacor
slot gacor situs toto
togel online
toto 4d
situs slot slot demo pgslot 88
slot gacor slot gacor
slot gacor
brenjitu
situs toto
situs toto
SITUS TOTO
toto macau 4d
TOTO 4D
SITUS TOTO 4D
SLOT GACOR
https://booking.embuni.ac.ke/live-draw-sydney-hongkong
TOTO 4D
toto togel
slot online
slot gacor
slot pulsa
hongkong lotto
slot gacor
slot gacor
slot pragmatic
situs bola
situs gacor
situs toto
situs slot gacor
situs totoslot gacordemo slot situs slot gacor
slot66
slot gacor
situs slot gacor
slot gacor
scatter hitam
scatter hitam
slot gacor scatter hitam
scatter hitam
situs slot gacor pulsa
situs baru slot gacor