Kuda Microfinance Bank has announced plans to blend its digital-first operations with physical touchpoints nationwide following the recent upgrade of its licence to a national microfinance banking licence by the Central Bank of Nigeria (CBN).
The move removes previous geographic restrictions associated with Kuda MFB’s unit licence, allowing the bank to open customer experience centres in multiple parts of the country. Until December 2025, the bank’s physical presence was limited to a single location.
Speaking on the development, Managing Director/CEO Musty Mustapha said, “Securing a national microfinance banking licence is an important step for us as a regulated institution. It strengthens our relationship with the Central Bank and affirms our commitment to operating at the highest standards of compliance as we scale.”
Mustapha emphasized that the bank will remain digital at its core, but the licence provides flexibility to offer in-person support and engagement, enhancing convenience for customers across Nigeria. The bank intends to replicate its Yaba, Lagos experience centre model in other locations, creating spaces where customers and the public can interact directly with Kuda staff, learn about products, and receive support.
Kuda MFB clarified that the national licence is about regulatory alignment and operational flexibility, not a shift from its digital-first model. Existing product offerings and transaction capabilities will remain unchanged, with services such as instant transfers, payments, savings, and credit continuing through the Kuda app.
The bank’s national licence positions Kuda MFB to expand its footprint, providing regulated support for a nationwide presence while continuing to lead in digital microfinance solutions.
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