CBN paves the way for digital banking with 10 licensed MFBs and POS services
According to the CBN database, about 894 companies have been licensed as microfinance banks as of February 2023.
However, only some fully digital companies can be described as digital banks. Except for a few digital banks, some have also obtained licenses from CBN to operate PoS services. The names of the banks include:
Sofri
Mint
Piggyvest
VFD
Moniepoint
FairMoney
Carbon
Kuda
Eyowo
Sparkle
