MoMo Payment Service Bank (MoMo PSB), the financial technology subsidiary of MTN Nigeria, has appointed Bode Abifarin, former Flutterwave Chief Operating Officer, as its new Managing Director and Chief Executive Officer.
Her appointment takes effect on September 1, 2026.
Abifarin brings more than 23 years of experience across financial services, consulting, digital payments, fintech, strategy, operations and business transformation to the role.
Before joining MoMo PSB, she served as Chief Operating Officer at Flutterwave, where she led strategic expansion initiatives across multiple markets, developed scalable operating structures, strengthened regulatory engagement and supported the delivery of payment solutions aimed at expanding financial access.
MoMo PSB said her extensive experience in fintech, financial services and business transformation would be critical as the bank enters its next phase of growth.
Serigne Dioum, Chief Executive Officer of MTN Group Fintech, described Abifarin as a leader with a strong combination of strategic vision, execution capabilities and deep industry experience.
He said her background in innovation, operational transformation and financial inclusion positioned her to lead MoMo PSB’s expansion and strengthen its market position.
Michael Ajukwu, Chairman of the MoMo PSB Board, also said her experience in payments, digital transformation and stakeholder engagement made her well suited to lead the bank into its next phase.
Speaking on her appointment, Abifarin said she was joining MoMo PSB at an important period for Nigeria’s rapidly evolving digital financial services sector.
She said financial inclusion remains a major opportunity to drive economic empowerment and prosperity for millions of Nigerians.
Abifarin said she would work with the bank’s employees, regulators, partners and other stakeholders to expand access to innovative, secure and customer-focused financial solutions for individuals, businesses and communities.
Earlier in her career, she spent 15 years at KPMG, rising to Associate Director in Management Consulting, where she advised financial institutions and other organisations across Africa on strategy, transformation, customer experience and business growth.
She also founded Strata Advisory, a technology-focused advisory firm that supports businesses seeking to scale and achieve sustainable growth.
Abifarin has received several professional recognitions, including being named among the Top 100 Women in Global Fintech, Inspiring 50 Women Shaping the Future of Technology in Africa and the 30 Most Powerful Nigerian Women in Finance.
Her appointment comes as MTN continues to restructure and expand its fintech operations.
In April 2026, MTN Nigeria announced plans to sell a 60 per cent stake in MoMo PSB and Y’ello Digital Financial Services to MTN Group in a deal valued at N152.06 billion. MTN Nigeria is expected to retain a 40 per cent stake in the businesses as part of efforts to create a more focused and scalable fintech operation.
MTN Group is also exploring opportunities to expand beyond payments. The company recently disclosed plans to consider banking licences in selected markets as it looks to grow its lending and broader financial services business.
Abifarin will now lead MoMo PSB as it seeks to expand its digital financial services, deepen financial inclusion and create greater value for customers across Nigeria.
