GTCO Obtains CBN’s PSB Approval For HabariPay Ltd
Guaranty Trust Holding Company Plc has obtained approval from the Central Bank of Nigeria (CBN) to operate a Payment Subsidiary, HabariPay Limited.
Erhi Obebeduo, GTCO’s Group Company Secretary on Thursday, said all regulatory approvals have been obtained for the commencement of full operations.
According to GTCO, the effort is geared towards leveraging the evolving payment space and enhancing the service experience of its customers.
“Guaranty Trust Holding Company PIc is pleased to inform The Nigerian Exchange Limited and the investing public of the receipt of the final approval of the Central Bank of Nigeria (the CBN) for its wholly-owned Payment Subsidiary, HabariPay Limited (“the Company”),” the group stated.
Commenting on the new subsidiary, Segun Agbaje, Group Chief Executive Officer of GTO Plc. said: “Payments are central to the development of financial services globally and represent a key growth area for the Group. GTCO Plc has been at the forefront of delivering cutting-edge innovative solutions with its banking franchise and would leverage this capacity to transform the evolving payment space. With HabariPay.
“We have successfully created another pathway towards enhancing the service experience for our customers and creating more value for our stakeholders.”
He stated further, “Our vision is an Africa where every payment is digital, and we hope to achieve this by increasingly leveraging technology to improve access to financial services for individuals and empower businesses across Africa with the right digital tools to thrive.”
“The new subsidiary will serve to expand GTCo Pic’s range of services to largely underserved markets in support of the CBN’S Financial inclusion drive and contribute to the resilience of the global payment ecosystem.
“All regulatory approvals have been obtained for the commencement of operations of the Company.”
HabariPay has now joined the list of Payment Service Banks (PSB) that have been licensed by the CBN in recent times, the CBN has issued to boost financial inclusion in Nigeria.
Earlier in the year, telecom giants, Airtel Africa and MTN Nigeria received payment Banking approvals, having been among the first to receive a super agent license back in 2019.
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