The Bank of Ghana (BoG) has firmly refuted claims circulating in the media that MTN Ghana has been granted a licence to facilitate cross-border money transfers with MTN Nigeria.
- Bank of Ghana denies claims of MTN Ghana being licensed for cross-border money transfers with MTN Nigeria
- MobileMoney Limited, behind MTN MoMo, has not been authorized for international money transfer services
- The only approved cross-border initiative under regulatory oversight is BrijX, a Business-to-Business currency exchange platform
In an official statement, the central bank clarified that MobileMoney Limited—the company behind MTN MoMo “has not been authorised to carry out international money transfer services.”
DON’T MISS THIS: 10 African countries where women have the most economic opportunities
Media reports misrepresent regulatory status
The clarification comes in response to widespread but inaccurate media reports which suggested that MTN Ghana had secured regulatory approval to begin international remittance operations. According to the BoG, such interpretations are misleading.
Instead, the central bank explained that the only approved cross-border initiative currently under its regulatory oversight is BrijX, a Business-to-Business (B2B) currency exchange platform developed by Brij Fintech Ghana, a licensed Payment Service Provider (PSP).
BrijX pilot programme underway
BrijX, which operates under the BoG’s regulatory sandbox framework, facilitates direct currency swaps between the Ghanaian Cedi and the Nigerian Naira without involving foreign exchange markets or the physical movement of funds.
![MTN faces major hurdle as Ghana's Central Bank counters licence offer [Everypixel]](https://ocdn.eu/pulscms/MDA_/7fd59430e788c245ca73b7ae45531fee.jpg)
The pilot phase of the platform began in February 2025, with initial participation limited to MTN MoMo customers. The trial is expected to expand to include users of G-Money at a later stage.
Strict oversight and compliance measures in place
The Bank of Ghana assured the public that the BrijX pilot is being conducted under stringent regulatory conditions. These include transaction limits, a capped number of participants, and adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
“The Bank will assess the outcomes of the pilot to determine future policy directions regarding cross-border transactions,” the statement read.
DON’T MISS THIS: Ghana ends 2025 close season for canoe fishermen, keeps ban for trawlers
MTN MoMo remains domestic-only—for now
The BoG reiterated that MTN Ghana’s MobileMoney platform remains authorised solely for domestic transactions and has not been approved to process international remittances.
The central bank concluded by reaffirming its commitment to promoting secure, cost-effective, and efficient cross-border payment systems in Africa, while safeguarding the financial system through responsible innovation.
