MoMo PSB Taps ex-Flutterwave COO Abifarin to Drive Next Growth Phase

By Adedapo Adesanya

MoMo Payment Service Bank (MoMo PSB), the fintech subsidiary of MTN Nigeria, has appointed former Flutterwave’s Chief Operating Officer, Mrs Bode Abifarin, as its chief executive, as the company positions itself for its next phase of growth in Nigeria’s digital financial services market.

The appointment takes effect on September 1, 2026, with Mrs Abifarin expected to lead the payment service bank’s efforts to expand digital financial services, deepen financial inclusion, drive innovation and create greater value for customers.

She brings more than 23 years of experience spanning financial services, consulting, digital payments, fintech, strategy, operations and business transformation.

Before joining MoMo PSB, she served as Chief Operating Officer of Flutterwave, where she played a key role in the company’s expansion across multiple markets.

Mrs Abifarin led strategic expansion initiatives, established scalable operating models, strengthened regulatory engagement and supported the development of payment solutions designed to widen access to financial services.

She previously spent 15 years at KPMG, rising to Associate Director in Management Consulting, where she advised financial institutions and organisations across Africa on strategy, transformation, customer experience and business growth.

Mrs Abifarin later founded Strata Advisory, a technology-focused advisory firm focused on helping businesses scale and achieve sustainable growth.

MoMo PSB said her combination of fintech, financial services and business transformation experience positions her to steer the company through its next stage of development.

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

He said her experience in innovation, operational transformation and financial inclusion would position her to lead MoMo PSB into its next stage of growth and market leadership.

Adding his input, Mr Michael Ajukwu, Chairman of the MoMo PSB Board, also expressed confidence in Abifarin’s ability to lead the business, citing her experience in payments, digital transformation and stakeholder engagement.

Mrs Abifarin described her appointment as coming at a defining moment for Nigeria’s digital financial services sector, saying financial inclusion remains a major opportunity to drive economic empowerment and prosperity.

“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 expand access to innovative, secure and customer-centric financial solutions for individuals, businesses and communities across Nigeria.

Mrs Abifarin takes over at a significant point in MTN Nigeria’s fintech strategy as the telecommunications company restructures its financial services operations.

In April 2026, MTN Nigeria announced plans to transfer a 60 per cent stake in MoMo Payment Service Bank and Y’ello Digital Financial Services to MTN Group for N152.06 billion, while retaining a 40 per cent interest in the businesses. The restructuring is aimed at creating a more focused and scalable fintech operation. The deal awaits approval from the Central Bank of Nigeria (CBN).

The move is part of MTN’s broader strategy to strengthen its financial services business and provide the fintech operations with greater access to capital and scale.

The group is also looking beyond traditional payment services as it explores new opportunities in financial services. In August 2026, MTN Group disclosed that it was exploring banking licences in some markets as it considers expanding its lending operations, identifying credit as a potential future growth area for its fintech business.

For MoMo PSB, the next phase will therefore involve not only expanding its customer base but also strengthening its digital products, operational capabilities and financial services offering as competition intensifies across Nigeria’s fintech sector.

Mrs Abifarin will now lead that expansion, drawing on her experience in scaling fintech businesses, driving operational transformation and developing digital financial services.