MoMo Payment Service Bank (MoMo PSB) has appointed Bode Abifarin as its Managing Director and Chief Executive Officer, effective September 1.
The bank announced the appointment in a statement yesterday.
Abifarin takes over the leadership of the payment service bank with more than 23 years of experience in financial services, consulting, digital payments, fintech, operations and business transformation.
She previously served as Chief Operating Officer of Flutterwave, where she was involved in the company’s expansion across several markets, operational development and regulatory engagement.
Before joining Flutterwave, Abifarin spent 15 years at KPMG, where she rose to Associate Director in Management Consulting. In that role, she advised financial institutions and other organisations on strategy, business transformation, customer experience and growth.
She most recently founded Strata Advisory, a technology-focused advisory firm.
MTN Group Fintech Chief Executive Officer, Serigne Dioum, said Abifarin’s experience in financial services and technology would support MoMo PSB’s next phase of operations.
MoMo PSB Board Chairman, Michael Ajukwu, also said her background in payments, digital transformation and stakeholder engagement informed the board’s confidence in her appointment.
Abifarin said she would work with the bank’s management, regulators and partners to expand access to digital financial services.
MoMo PSB, a subsidiary of MTN Nigeria, is licensed by the Central Bank of Nigeria to provide services including money transfers, bill payments and mobile wallet solutions.
The appointment comes as payment service banks and other financial technology operators continue to compete for a larger share of Nigeria’s expanding digital financial services market.