Kuda Microfinance Bank has secured approval from the Central Bank of Nigeria to operate as a national microfinance bank, clearing the way for the fintech-driven institution to expand beyond previous geographic limits and roll out customer experience centres across Nigeria. The new licence replaces its former unit microfinance status, which restricted operations to a single location, and positions the digital bank for broader nationwide reach.
The approval allows the bank to establish in-person service hubs in multiple regions while maintaining its strong digital focus. Customers will still rely primarily on the mobile platform for transfers, bill payments, savings options, and instant credit, but the physical centres aim to deepen engagement and provide face-to-face assistance where necessary. This hybrid strategy reflects a growing trend in Nigeria’s fintech ecosystem, where digital banks increasingly blend online convenience with selective offline support.
Chief executive Musty Mustapha described the national licence as a significant milestone that strengthens regulatory ties and supports the bank’s scale-up ambitions. He noted that while digital banking remains the company’s foundation, the new approval gives it flexibility to create physical touchpoints for customers who prefer direct interaction, ultimately improving service accessibility nationwide.
The bank also plans to launch more customer experience centres once regulators grant additional approvals. Its existing centre in Yaba, Lagos already serves as a pilot model where users interact with staff, resolve account issues, and learn more about digital financial services in person. Replicating that setup in other cities could help bridge the gap between purely digital banking and traditional branch expectations.
Despite the expanded licence, the bank says its core products and transaction capabilities remain unchanged. Instead, the national authorisation provides stronger regulatory backing for nationwide operations while supporting financial inclusion efforts, particularly in underserved communities. The move highlights how Nigerian fintech players continue to combine digital innovation with accessible on-ground support to meet evolving customer expectations.
