MTN Nigeria Communications Plc has proposed a merger of its two finance subsidiaries; Momo Payment Service Bank Limited and Yello Digital Financial Services Limited.
In a notification about its Annual General Meeting scheduled to hold in April 18, 2023, one of the resolutions to be passed is stated thus:
“That the Company’s two subsidiary entities: (a) MoMo Payment Service Bank Limited and (b) Yello Digital Financial Services Limited be restructured by way of a merger or such other method, subject to obtaining all requisite regulatory and corporate approvals”.
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