By The Bank of Ghana (BoG) has dismissed reports. These reports suggest that MTN Ghana has been granted a license to facilitate cross-border transactions with MTN Nigeria.
In a statement, the central bank clarified that MobileMoney Limited, the provider of MTN MoMo, lacks authorization. They are not authorized to conduct international money transfers.
The clarification follows widespread media reports that incorrectly implied MTN Ghana had secured regulatory approval for such operations.
However, the BoG explained that the only cross-border transaction pilot currently under its supervision is BrijX. It is a Business-to-Business (B2B) currency swap platform. This platform was developed by Brij Fintech Ghana, a licensed Payment Service Provider (PSP).
BrijX is part of BoG’s regulatory sandbox initiative. It enables direct currency swaps between the Ghanaian Cedi and the Nigerian Naira.
Unlike conventional international transfers, this platform does not require forex or the physical movement of funds across borders. The pilot began live testing in February 2025, initially with MTN MoMo customers and later expected to include G-Money users.
BoG assured the public that the pilot is being conducted under strict regulatory controls. These controls include transaction limits. There is also a restricted number of participants. Additionally, there is compliance with Anti-Money Laundering (AML) and Know Your Customer (KYC) protocols. The central bank will evaluate the results of the trial before determining any policy direction.
The Bank of Ghana reaffirmed its commitment to ensuring secure, efficient, and affordable cross-border payments in Africa. It emphasized that MTN Ghana’s MoMo remains limited to domestic transactions until further notice.
