List of CBN Licensed Mobile Money Operators in Nigeria

The convenience of making monetary transactions with the use of a phone, is the chief objective money operators offer their customers. Money operators in Nigeria are licensed and regulated by the Central Bank of Nigeria to perform transactions that may include; sending money, receiving money, and other bill payments.

List of CBN Licensed Mobile Money Operators in Nigeria

Here is the list of CBN Licensed Mobile Operators in Nigeria

  • Paga Mobile

Paga Mobile is one of the most prominent Mobile money operators licensed by CBN in Nigeria. Paga, as it is popularly called, was established by Tayo Oviosu in 2009. It began operations in 2011. Paga allows subscribers to transfer cash and make payments through their mobile phones. It eradicates the necessity for banks to make cashless transactions. Aside from allowing its users to pay Cable TV (DSTV, GoTV)  bills, and other online utility bills, it offers basic banking services like Merchant services and Savings accounts.

  • First Bank’s Firstmonie

First Bank’s Firstmonie, popularly known as Firstmonie, is an electronic wallet and mobile money payment service owned by First Bank of Nigeria. It was inaugurated on the 19th of September, 2013. Firstmonie enables its users and subscribers to make transactions, pay bills and shop online on their mobile phones. It is powered by Celpay in Zambia in collaboration with Fundamo, a Visa organization responsible for the launch of the world’s first mobile financial service in emerging markets.

  • MTN’s MoMo

MTN’s MoMo began operations on September 19, 2019. It is a mobile payment outlet designed and introduced by MTN Telecommunication. MoMo was coined from Mobile Money. It enables its subscribers and users to send, receive, and save money through their mobile phones. Momo also offers its users the opportunity to pay a wide range of bills. One could also shop online using MoMo. One could also buy data and airtime using MoMo. MTN Mobile Money Nigeria doesn’t charge extra fees for most transactions unlike regular banks in Nigeria.

  • Kudi Mobile

Kudi Mobile was founded by Pelumi Aboluwarin and Yinka Adewale in 2016. It is one of the most prominent mobile money operators in Nigeria. Kudi mobile app gives people the option to make cash transactions and pay bills with their mobile phones. It also allows people to make money online by becoming Kudi Agents. Kudi Agents use mobile phones and POS to help people with cash transfers, withdrawals and carry out other transactions.

  • OPay (Paycom Nigeria Limited)

OPay was founded by the Opera Group, one of the most popular browsers in Nigeria, in 2018. OPay allows people to transfer, save and receive money as well as carry out other cash transactions using mobile phones. OPay and WorldRemit announced a partnership to enable Nigerians to receive money from some countries including the United States. OPay also enables people to make money online legitimately by becoming OPay Agents.

  • Polaris SurePadi

Polaris SurePadi is the mobile money service of Polaris Bank Limited. It was inaugurated in 2020. SurePadi’s goal is to provide comfort and ease in banking processes. It assists its users and subscribers in cash deposits, Account opening, Cash withdrawals, BVN enrollment, bill payment as well as Data and Airtime purchase. It also provides a wide range of top-notch services.

  • PalmPay

PalmPay is an electronic wallet that strives to facilitate cash transactions and also provides options for people who have little or no access to banks. PalmPay is owned by Transnet and NetEase. It was established in 2019. It can be used to send money as well as receive money. It can also be used to pay a wide range of bills, purchase data and airtime, and also perform many other online transactions.

  • QikQik

QikQik (Quickteller) is one of the licensed electronic money operators in Nigeria. It was founded in 2012 by Unity Bank and powered by Eartholeum Networks. QikQik allows its, users and subscribers, to perform services like cash transfer, bill payment, as well as airtime and data purchase. One could also shop, apply for loans, book flights and buy event tickets on QikQik.

  • PocketMonie

PocketMonie was inaugurated in 2010. This platform enables its users and subscribers to pay bills, purchase airtime and data, transfer and receive money. It also enables its users to carry out a wide variety of online cash transactions. PocketMonie won the award of Mobile Operators of the year in 2018. PocketMonie also has agents who assist people to carry out swift online cash transactions.

  • U-Mo

U-Mo was launched in 2011 by UBA in conjunction with AfriPay. It was the first mobile money service in Nigeria. U-Mo has three accounts types namely, U-Mo Gold, U-Mo Silver, and U-Mo Platinum. It is a platform where its users can carry out a wide range of cash transactions using mobile phones.

  • EazyMoney

EazyMoney offers its users the option to send and receive money by using their mobile phones through the EazyMoney mobile app. EazyMonie is a Zenith Bank enterprise. It aims to provide alternative banking options for people with no access to banks. EazyMoney also helps its users to carry out a wide range of cash transactions such as Utility bill payments.

  • Google Wallet

Google Wallet is a mobile payment system developed by Google. Google Wallet allows its users to make cash payments and transfer money using their mobile phones. It offers a free service for its users.

  • GTbank Mobile Money

GTbank Mobile Money is owned by GTbank. It enables its users to carry out a wide range of online cash transactions like Utility bill payments, purchase of data and airtime, sending and receiving money, and many other operations.

  • Stanbic IBTC Mobile Money

Stanbic IBTC Mobile Money was powered by Stanbic IBTC. It helps its users to carry out online banking activities such as sending money, receiving money, as well as payment of Utility bills like DSTV and GoTV subscriptions. It also takes away the stress of going to the bank.

  • Ecobank Mobile Money

Ecobank Mobile Money was launched by Ecobank. It enables its users to carry out a wide range of cash transactions without visiting the bank by making use of mobile phones. One could pay utility bills, buy airtime and data, send money, receive money and also carry out other online activities.


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