New bank, 9PSB targets 6m users in 1 year

A new bank, 9PSB (Payment Service Bank), a lifestyle and first payment service bank, has commenced operations as it positions to achieve six million new users in the first year.

It is using USSD code for customers to easily open accounts using their mobile numbers as an account number, transact and earn money per transaction, receive instant cash back on airtime purchases, savings proposition and investment opportunities.

CBN retains 11.5% interest rate, worries over parallel forex marketPDP wants CBN governor to resign over fiscal policySpeaking at the launch of 9PSB, the Chief Executive Officer, 9PSP, Branka Mracajac, commended the Central Bank of Nigeria (CBN) for its drive towards financial inclusion.

“9PSB is the first payment service bank designed to fund financial services in Nigeria by providing creative and market driven solutions and addressing the needs of the financially excluded people.

“With our bank, customers can open any account they like from the comfort of their mobile phones and computer devices.”

Non-Executive Director, 9PSB, Mr. Phillips Oki said: “In terms of reach, we intend to reach over six million subscribers in our first year and the second year and beyond we expect our growth to be massive.”

Speaking during a panel session, the Chief Executive Officer, Enhancing Financial Innovation & Access (EFInA), Ms. Ashley Immanuel noted that digital financial services can play an important role in economic recovery from the COVID-19.

“One of our recommendations to the CBN was to award licenses to the PSB as soon as possible,” she said.