MTN Nigeria has once again proven why it remains a dominant force in Corporate Nigeria, as its latest financial results reveal a staggering ₦3.7 trillion in revenue and ₦1.1 trillion in pre-tax profit for the third quarter of 2025. The telecom leader, which has fully recovered from previous foreign exchange losses, is now restoring dividend payments and reaffirming its reputation as one of Nigeria’s most profitable companies.

While voice and data remain the company’s traditional growth pillars, contributing approximately ₦3.2 trillion, another segment is rapidly becoming the star of the show, FinTech.

FinTech: MTN’s New Billion-Naira Growth Engine

MTN’s FinTech business, encompassing Yello Digital Financial Services and MoMo Payment Service Bank, generated a massive ₦131.6 billion in revenue in the first nine months of 2025, a 72.5% year-on-year increase. That equates to roughly ₦43 billion every quarter or ₦15 billion monthly, placing it on par with many mid-sized banks in Nigeria.

If valued as a standalone company, MTN’s FinTech arm would already qualify as a unicorn, a billion-dollar startup.

This growth is the product of a long-term strategy built on MTN’s vast network of 85.4 million subscribers, including 55 million active data users, and a focus on expanding digital financial inclusion across Nigeria.

Building a Digital Financial Ecosystem

MTN’s FinTech operations are more than just another business line, they represent the future of its enterprise. The company has strategically expanded its MoMo ecosystem, emphasizing active wallet growth, transaction volume, and repeat engagement.

By September 2025, active wallets had reached 2.9 million, a 1.6% increase since December 2024. This consistent growth reflects MTN’s ability to transform casual users into long-term digital customers.

Its MoMo agent network, now ubiquitous across Nigeria, is bridging the gap between cash and digital finance, particularly in rural and underserved regions.

“MTN’s FinTech story isn’t just about growth, it’s about inclusion,” said a company executive.
“We’re creating digital pathways for millions who have never had access to financial services before.”

Regulatory Advantage and Strategic Foresight

MTN’s early acquisition of critical licences has proven instrumental to its success.

• Its Super-Agent Licence enables the company to deliver a wide range of financial services through its extensive agent network.
• Its Payment Service Bank Licence (PSB) allows MTN to operate much like a bank, providing mobile wallets, transfers, microloans, and even insurance.

The company is now working on enhancing the “stickiness” of its FinTech products, ensuring that MoMo becomes a daily lifestyle utility rather than just a payments app.

Nigeria’s Financial Revolution and MTN’s Edge

Nigeria’s financial ecosystem is undergoing rapid digital transformation, driven by regulatory frameworks from NITDA, NIMC, and the Securities and Exchange Commission (SEC). These changes are laying the groundwork for innovations like open banking, digital lending, and consumer credit expansion.

With its robust data analytics, customer insights, and nationwide reach, MTN is uniquely positioned to lead in algorithmic lending and digital credit distribution. Unlike traditional banks struggling with high acquisition costs and legacy systems, MTN already has the digital infrastructure and user data to extend credit efficiently.

Industry analysts predict that consumer lending could become Nigeria’s next billion-dollar opportunity, with MTN perfectly placed to dominate it.

A FinTech Giant in the Making

Since first reporting ₦8.8 billion in FinTech revenue in 2015, MTN’s digital finance business has expanded more than tenfold in just a decade. With over ₦131.6 billion already earned in 2025, the division is projected to surpass ₦200 billion annually by 2026.

Market observers believe a future spinoff or stock market listing of MTN’s FinTech arm could unlock even greater shareholder value, mirroring the Safaricom M-Pesa model in Kenya.

For a company once defined by call minutes and data bundles, MTN’s FinTech success marks a transformative leap into the future, one where telecommunications meets financial innovation, and profitability meets inclusion.