With the objective of ensuring that all Nigerians and people residing in Nigeria have access to financial services, the Central Bank of Nigeria has put in place appropriate structures to ensure that everyone can have access to basic financial services in the country. One of such structures is the Mobile Money Initiative.

The Nigerian Communications Commission (NCC) as at June 2020, states that there are about 196 million subscriber lines in the country. Placing this against the number of Nigerians, there is no reason why the mobile phone cannot be used to deliver financial services.

There are 15 mobile money operators licensed to operate in Nigeria and there are basically two models:

  • The Bank-led Model: This is a model where a bank either alone or a consortium of banks, whether or not partnering with other approved organizations, seek to deliver banking services, leveraging on the mobile payments system. This model shall be applicable in a scenario where the bank operates on stand-alone basis or in collaboration with other bank(s) and any other approved organization. The Lead Initiator shall be a bank or a consortium of banks.
  • The Non-Bank led Model: This model allows a corporate organization that has been duly licensed by the CBN to deliver mobile money services to customers. The Lead Initiator shall be a corporate organization (other than a deposit money bank or a telecommunication company) specifically licensed by the CBN to provide mobile money services in Nigeria.

Whichever model is run, you need a mobile money agent.

A mobile money agent is an individual or entity approved by a licensed financial institution to offer mobile money services like cash-in and out payment, airtime, service, and bill payments to customers.



Step 1: Check to affirm if you meet the requirements below

Requirements for MoMo Agents

  • Have an existing business or willing to invest in agency business
  • Have a Brick & Mortar/Immovable retail shop e.g. Pharmacy Pop & Mom Shop located in high foot traffic
  • Viable means of identification (National ID, Driver’s License, International passport or Voters card)
  • Readiness to provide 1 passport photograph.
  • Capability to provide a Working Capital of N20,000 and above.

Step 2: Visit the nearest MTN outlet to pick up the form & submit your details

Step 3Click here to download the application form

Step 4: MTN field staff will contact you for a planned visit to ascertain your suitability


  1. Visit the agent page and put in your phone number.
  2. Fill the agent Interest form on the next page.
  3. Details needed for the “Agent Interest” form include first name, surname and preferred contact.
  4. Click “Submit” after filling the form.
  5. A local Paga representative will reach out to you to guide you on furthering your application process. This typically takes less than two (2) weeks.


The Firstmonie Agent network is a bespoke channel through which FirstBank broadens the opportunities and access to financial services for every Nigerian and African; especially within the low-income segment (the unbanked and under-banked population).

  1. Prospective Agent must have been engaged in commercial activities for a minimum of 12 months.
  2. Prospective Agent must have a shop (a permanent structure – either rented or owned) from which he operates from.
  3. Prospective Agent must be willing to render financial services as defined by the bank.
  4. Willingness to commit a minimum working capital of N50,000 (if a non-registered business) and N250,000 (if a registered business).

Visit any First Bank of Nigeria (FBN) branch to indicate your interest in being an agent. If you meet the above requirements, send an email to [email protected]