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The Bank of Ghana (BoG) has clarified that MTN Ghana has not been granted authorisation to facilitate cross-border transactions with MTN Nigeria.
In an official statement, the central bank emphasised that MobileMoney Limited, the operator of MTN MoMo, has not received any licence to conduct such transactions.
However, the BoG noted that Brij Fintech Ghana, a licensed Payment Service Provider (PSP), has been approved to pilot BrijX, a B2B Currency Swap Platform, under its regulatory sandbox programme.
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BrijX is a digital marketplace designed to enable direct currency swaps between the Ghanaian cedi and the Nigerian naira without requiring forex transactions or physical fund transfers across borders.
The platform collaborates with banks, mobile money operators, and licensed PSPs to facilitate seamless currency exchanges.
The pilot program, which began live testing in February 2025, involves MTN MoMo customers and will soon expand to G-Money users.
The BoG emphasised that the BrijX pilot is operating under strict regulatory controls, including:
- Transaction limits
- A restricted number of participating customers
- A defined testing period
- Full compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations
At the conclusion of the pilot, the BoG will assess its effectiveness to determine its alignment with Ghana’s financial regulatory framework and potential future policies.
The central bank reaffirmed its commitment to ensuring safe, efficient, and affordable cross-border payment solutions within Africa while maintaining strong consumer protection measures.
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