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 unced, 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.
I wonder if this expansion will benefit rural areas or just focus on urban centers. Excited to see the impact!
Do you think physical expansion will help Kuda Microfinance Bank better serve customers, or will it spread them too thin?
Wow, exciting news about Kuda Microfinance Bank! Do you think their physical expansion will truly benefit customers nationwide?
I wonder if Kudas physical expansion will reach remote areas or just stick to major cities. Accessibility matters!
Wow, I wonder if Kuda Microfinance Bank will bring some innovative banking services to rural areas in Nigeria. Exciting times ahead!
Wow, do you think Kudas physical expansion will shake up the traditional banking scene in Nigeria? Exciting times ahead!
I wonder if expanding physically is the right move for Kuda Microfinance Bank. Maybe they should focus more on digital growth instead.