PAID CONTENT9PSB gets final approval from CBN with *990# to commence operations in Nigeria

 

As bank customers continue to encounter challenges such as regular long queues in the banking halls, consistent network failure, stringent documentations to assess credit facilities, frequent transaction/dispensing error, delay in transaction completion and process among others, the Central bank of Nigeria has granted final approval to Nigeria’s lifestyle and first payment service bank, 9PSB (Payment Service Bank), to commence operations in fostering financial inclusion drive in the Nigerian ecosystem.

Speaking on the vision of 9PSB’s entrant into the Nigerian financial sector, the CEO of 9mobile, Mr. Alan Sinfield stated that there’s a huge potential in the market and 9PSB is strategically positioned to expand its operations into financial services. He stated that “We are happy to be the first Payment Service Bank to provide all Nigerians with access to banking services and open up a digital world of possibilities to improve everyday lives. We know that this new development will further improve the country and the people going forward. In 2018, 9mobile partnered with Nigerian bank, UBA to roll out 9Pay, a mobile payments solution while also pushing for a fintech license. We are delighted that we have now secured finale approval for a Payment Service Bank.”

In his own reaction, the CFO of 9mobile, Mr. Phillips Oki stated that “the financial inclusion that 9PSB will provide will be an enabler to achieving unparalleled benefit in everyday transactions. The *990# allows Niger