MoMo PSB appoints former Flutterwave COO Bode Abifarin as CEO

MoMo Payment Service Bank (MoMo PSB), the fintech subsidiary of MTN Nigeria, has appointed Bode Abifarin as its Managing Director and Chief Executive Officer, effective September 1, 2026.

Abifarin joins the payment service bank with more than 23 years of experience spanning financial services, consulting, digital payments, fintech, strategy, operations and business transformation.

Before the appointment, she served as Chief Operating Officer of Flutterwave, where she led strategic expansion initiatives across multiple markets, established scalable operating models, strengthened regulatory engagement and supported the development of payment solutions aimed at expanding access to financial services.

What they are saying

MoMo PSB said Abifarin’s experience in fintech, financial services and business transformation positions her to lead the bank through its next phase of growth.

Serigne Dioum, CEO of MTN Group Fintech, said Abifarin brings an “exceptional blend of strategic leadership, execution excellence and deep fintech expertise” to the role.

• “Her extensive experience in driving innovation, operational transformation and financial inclusion uniquely positions her to lead MoMo PSB into its next stage of growth and market leadership,” Dioum said.

Michael Ajukwu, Chairman of the MoMo PSB Board, said Abifarin’s experience in payments, digital transformation and stakeholder engagement, combined with her focus on financial inclusion, makes her well positioned to lead the bank.

• “Her extensive experience in payments, digital transformation and stakeholder engagement, combined with her passion for financial inclusion, makes her uniquely positioned to lead MoMo PSB into its next chapter of growth,” Ajukwu said.

Abifarin targets wider financial inclusion

Abifarin described her appointment as an opportunity to help expand access to digital financial services and advance financial inclusion in Nigeria.

• “I am honoured to join MoMo PSB at a defining moment for digital financial services in Nigeria. Financial inclusion remains one of the greatest opportunities to unlock economic empowerment and prosperity for millions of people,” she said.

She said she would work with MoMo PSB’s team, regulators, partners and other stakeholders to accelerate access to innovative, secure and customer-centric financial solutions that create value for individuals, businesses and communities across the country.

Earlier in her career, Abifarin spent 15 years at KPMG, where she rose to the position of Associate Director in Management Consulting and advised financial institutions and organisations across Africa on strategy, transformation, customer experience and business growth.

Most recently, she founded Strata Advisory, a technology-focused advisory firm that helps businesses scale and achieve sustainable growth.

Abifarin has also received several career recognitions, including being named among the Top 100 Women in Global Fintech, the Inspiring 50 Women Shaping the Future of Technology in Africa, and the 30 Most Powerful Nigerian Women in Finance.

Get up to speed

Abifarin takes over at MoMo PSB as MTN continues to reshape its fintech business and expand the range of financial services available through its digital platforms.

In April 2026, MTN Nigeria announced plans to sell a 60% stake in MoMo Payment Service Bank and Y’ello Digital Financial Services (YDF) to MTN Group for N152.06 billion.

MTN Nigeria is expected to retain a 40% stake in the businesses, with the restructuring aimed at creating a more focused and scalable fintech operation.

MTN Group is also looking beyond payments as it seeks to grow its financial services business.

In August 2026, the group said it was exploring banking licences in some markets as it considers expanding its lending operations, identifying credit as a major future growth opportunity for its fintech business.

Abifarin will now lead MoMo PSB as it looks to expand its digital financial services, deepen financial inclusion and create more value for customers.

What you should know

MoMo PSB’s growth comes as demand for digital services continues to rise across Nigeria, supported by increasing reliance on mobile connectivity for everyday activities.

Nairametrics reported in August that Nigerian telecom subscribers consumed a record 1.5 million terabytes of data in May 2026, with active mobile subscriptions rising from 154.3 million in April to 157 million in May.

MTN remained the country’s largest internet provider, accounting for 83.5 million subscriptions during the month.