How to Become a Momo Agent in Nigeria

A mobile money agent (often known as Momo) is an individual or entity approved by a licensed financial institution to offer mobile money services to the public. A mobile money agent can perform transactions such as withdrawal and deposits, money transfer, airtime recharge, data purchase, service, and bill payments to customers.

MTN Mobile Money is provided by MTN, which is a leading telecommunications company in Nigeria. It started the initiative as a means of helping small business owners operate their business while making some side cash too. Momo services are unlike the usual banking services in Nigeria, as MTN has designed Momo in such a way that you can withdraw and deposit money without a bank account. Other easy banking systems such as Paga, Opay, Firstmonie require that you and the recipient of the transfer have a valid account in order to make transactions, but it is not so with Momo. This service takes away the stress of having to queue to send or receive money, or the need for passports or BVN. Momo services are overseen by MTN, a leading communications brand in Nigeria; this attests to the organization and credibility of this mobile service.

How to Become a Momo Agent in Nigeria

How to become a MoMo Agent

Momo is a great way for business owners to make more money as it is strictly commission-based. MTN gets to deduct cheap payment fees varying from 0.5% to 5% of the total amount being sent. Thus, the Momo Agent makes his or her profit. Many people want to become Momo agents but do not know how to go about the process. Read on below:

Step 1: Check to ensure you meet the requirements

There are requirements to be met before one can qualify to be a Momo agent. These are:

  • A prospective Momo agent must have an already existing business or willing to invest in an agency business.
  • A prospective Momo agent must have a brick and mortar or immovable retail shop e.g. a Pharmacy or Kiosk.
  • He or she must have a means of identification such as a National ID, Driver’s License, International passport, or Voters card.
  • A passport photograph.
  • He or she must be capable of providing a starting capital of N20, 000 or more.

Step 2: Visit the nearest MTN outlet to pick up the application form and submit your details

Step 3: You can also download the application form on the Momo agent website

Step 4: Wait for the field staff of the company to contact you for a planned visit to determine your suitability

How to create a Momo agent wallet using your phone number

You can also become a Momo agent by registering with your registered MTN line on your mobile phone. However, your MTN number must be properly registered with the correct details such as your correct name, date of birth, and bio-data. When you use your phone number to create a MoMo agent wallet, the number will automatically be converted into a Momo agent account. You can then use it to store funds, make transactions, and pay bills (i.e. utility, electricity, recharge cards, television, e-pins, etc.).

How does a MoMo agent check for commission Balance?

Dial *502*8*3# to check for the following:

Account Number (NUBAN)
Airtime Balance
Float Balance
Commission balance

What do Momo Agents do?

MoMo services allow registered agents to perform cardless transactions for customers. With Momo, anyone even can transfer cash even without a bank account or BVN. Thus, Momo agents are enabled to withdraw cash for customers without an ATM card or POS machines. If you find that you are stranded somewhere and without cash, you can easily approach a Momo retail agent and get funds. Momo makes transaction processes easy and without hustles. Below are the various functions a Momo agent can do:

Open Cash2cash accounts: A MoMo Agent is able to send and receive cash for MTN subscribers in any part of the country without the need to be physically present at a bank, owning an account number, or making use of codes or PIN. All you need to do is visit any MoMo Agent near you to either send or receive money. It is fast, secure, and problem-free.

Cash transfers

Bill payments

Airtime and data purchase.

Benefits of using Momo services

Momo is beneficial for both the customers (MTN subscribers) and the agent. Momo is not only fast but secure. For the Momo agent, he or she does not have to worry about how customers will find him or her because there is a code for the customer to use to find the nearest Momo agent. Lastly, the responsibility of being a Momo agent is very rewarding. Every Momo agent receives a real-time commission for any transaction performed. The agent does not need to wait till the end of the month to receive his or her commission.

How does Momo work?

Now you might be wondering how Momo works since you do not need an account number. If you want to deposit any amount of money or send it to someone in another state in Nigeria. The minimum amount you can send however is N100. Here is how to go about it:

  • Get your money available in cash
  • Text ‘Agent’ to 64625 or dial #2234# to locate the nearest MoMo Agent to you
  • Submit the receiver’s phone number as well as yours to the agent
  • Give the cash to the Momo Agent
  • The Momo Agent will give the receiver a 5 digit code while you will be given another, you are to send your code to the receiver. The receiver will need all of the 10 digit code to claim his or her cash.

Funds that have been earlier sent can also be redeemed using the token generated at an agent’s location. With MoMo and its agents, customers can send money to their loved ones anywhere in Nigeria without any troubles. In addition, the process involved in signing up as a Momo agent is equally less strenuous.


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