Index to Nigerian Newspapers

The central bank of Nigeria (CBN) has granted national operational approval to several financial technology companies and microfinance banks, allowing them to operate across all states in the country.The approval applies to major digital payment platforms such as Opay and Moniepoint, alongside other licensed fintech firms and microfinance banks that previously operated under state or regional licences.The CBN said the move is expected to accelerate financial inclusion, particularly in rural and underserved areas where access to traditional banking infrastructure remains limited. Fintech companies such as Opay and Moniepoint have built extensive agent networks that support payments, fund transfers, bill payments and banking services for small businesses.The approval comes at a time when Nigeria’s fintech sector continues to attract significant local and international investment, strengthening the country’s position as a leading digital finance hub in Africa. As Opay, Moniepoint and other approved institutions commence nationwide expansion, attention will be focused on how effectively they maintain service quality while scaling operations across Nigeria’s diverse markets.