By Boluwatife Oshadiya | August 30, 2026
Key Points
- MoMo Payment Service Bank appoints former Flutterwave COO Bode Abifarin as managing director and chief executive officer effective September 1
- Abifarin brings more than 23 years of experience across financial services, fintech, digital payments, consulting and business transformation
- Her appointment comes as MTN Nigeria restructures its fintech operations and prepares to transfer a 60% stake in MoMo PSB and Y’ello Digital Financial Services to MTN Group
Main Story
MoMo Payment Service Bank (MoMo PSB), the fintech subsidiary of MTN Nigeria, has appointed Bode Abifarin as its managing director and chief executive officer, effective September 1, 2026.
Abifarin joins MoMo PSB with more than 23 years of experience spanning financial services, consulting, digital payments, fintech, strategy, operations and business transformation. She previously served as chief operating officer of Flutterwave and spent about 15 years at KPMG Nigeria.
At Flutterwave, Abifarin was involved in scaling the company across multiple markets, developing operating models and supporting its regulatory engagement. Flutterwave confirmed her departure in 2024, describing her as an important part of the company’s operational growth.
Before joining Flutterwave, she spent 15 years at KPMG, where she advised organisations across Africa on strategy, transformation, customer experience and growth. She later founded Strata Advisory, a technology-focused advisory firm.
The appointment comes as MTN Nigeria restructures its fintech operations. The company announced plans to transfer a 60% stake in MoMo PSB and Y’ello Digital Financial Services to MTN Group in a transaction valued at ₦95.5 billion. MTN Nigeria would retain a 40% interest, subject to regulatory approvals.
MoMo PSB provides digital financial services including deposits, payments, transfers and digital wallets, while Y’ello Digital Financial Services operates agency banking services through the MoMo network.
What’s Being Said
“As MoMo PSB enters its next phase, Bode will lead the business in expanding access to innovative, secure and customer-centric digital financial services, while deepening financial inclusion and creating greater value for individuals, businesses and communities across Nigeria.” — MoMo from MTN.
“Bode brings a powerful combination of strategic leadership, operational excellence and a deep understanding of Africa’s evolving financial services landscape.” — MoMo from MTN.
What’s Next
Abifarin is scheduled to assume the MoMo PSB leadership role on September 1, 2026.
Her immediate mandate will include leading the company’s next growth phase, expanding digital financial services and strengthening its contribution to financial inclusion in Nigeria.
The leadership transition will also take place alongside MTN Nigeria’s proposed restructuring of its fintech businesses, with the transfer of the majority stakes in MoMo PSB and Y’ello Digital Financial Services subject to the required regulatory approvals.
Bottom Line
The Bottom Line: Abifarin’s appointment places an experienced fintech operator at the helm of MoMo PSB at a critical point in MTN Nigeria’s fintech restructuring. Her challenge will be to translate her experience in scaling digital payments into stronger growth and execution as MoMo PSB enters its next phase.
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