MoMo PSB Appoints Ex-Flutterwave COO Bode Abifarin CEO

In Short

MoMo PSB has appointed Bode Abifarin as Managing Director and CEO. The appointment takes effect on September 1, 2026.

What Happened

MoMo PSB, MTN Nigeria’s payment service bank, has named Bode Abifarin as its new Managing Director and Chief Executive Officer. MoMo PSB is a “payment service bank”, a CBN-licensed bank type designed mainly for basic deposits, transfers, and agent-led financial services.

Abifarin joins with more than 23 years of experience across consulting, financial services, digital payments, and operations. She previously served as Chief Operating Officer at Flutterwave, where she worked on multi-market expansion, operating processes that can scale, and regulatory engagement. Regulatory engagement means ongoing work with regulators to meet licensing, compliance, and reporting requirements.

MTN Group Fintech CEO Serigne Dioum said her mix of strategy and execution fits the company’s next growth phase. MoMo PSB board chair Michael Ajukwu also pointed to her background in payments and stakeholder management, and her focus on financial inclusion.

Abifarin said her focus will be to widen access to digital financial services in Nigeria. Financial inclusion means getting more people and small businesses into formal financial services, like wallets, transfers, savings, and bill payments.

Earlier in her career, she spent 15 years at KPMG in management consulting, advising organisations across Africa on strategy, transformation, and customer experience. She also founded Strata Advisory, a technology-focused advisory firm.

Why It Matters

Leadership changes matter in Nigeria’s fintech and mobile money market because regulatory demands are rising and competition is tight. For MoMo PSB, hiring an executive with deep payments operations experience could help improve product reliability, expand services through its agent network, and strengthen compliance.

The appointment also lands as MTN continues to reshape its fintech business and broaden services delivered through its digital platforms. That context makes the next CEO’s operating and regulatory track record especially relevant.