Kuda Microfinance Bank has announced plans to combine its digital-first banking operations with physical customer touchpoints nationwide following the upgrade of its operating licence by the Central Bank of Nigeria (CBN).
The bank disclosed this in a statement on Friday after the CBN approved its transition from a unit microfinance bank to a national microfinance bank, a move that removes geographical restrictions on its physical operations.
Under its former licence, which it held until December 2025, Kuda’s physical presence was limited to a single location. The new national licence now allows the fintech lender to establish customer experience centres across multiple parts of the country.
Kuda said the licence upgrade also regularises its regulatory status in line with the CBN’s framework for microfinance banks and provides greater operational flexibility as it scales.
Commenting on the development, the Managing Director and Chief Executive Officer of Kuda MFB, Musty Mustapha, described the approval as a significant milestone for the institution. He said the licence strengthens the bank’s relationship with the regulator and reinforces its commitment to high compliance standards.
“While we remain digital at our core, this licence gives us the flexibility to create more physical touchpoints where customers want in-person support or engagement, allowing us to serve Nigerians across the country in whichever ways are most convenient for them,” Mustapha said.
The bank stressed that the national licence does not signal a departure from its digital-first strategy. It said it would continue to prioritise app-based banking services, including transfers, payments, savings and instant credit for customers.
Kuda also revealed plans, subject to regulatory approval, to expand its network of customer experience centres, similar to its existing facility in Yaba, Lagos.
These centres are expected to serve as hubs for customer support and community engagement, allowing customers and the public to interact directly with the bank’s team.
According to Kuda, the licence upgrade does not alter its current products or transaction capabilities but provides the regulatory backing required for a nationwide physical presence as it deepens financial inclusion across Nigeria.
