- Bank of Ghana prioritizes secure cross-border payment solutions
- BrijX platform enables currency swaps between Ghana and Nigeria
- Pilot follows transaction limits and AML/KYC rules
The Bank of Ghana (BoG) has clarified that MTN Ghana has not been granted permission to facilitate cross-border transactions with MTN Nigeria.
The Central Bank made it clear that MobileMoney Limited, the operator of MTN MoMo, has not been authorized to handle such transactions.
In response to recent developments in the fintech industry, the BoG outlined that it had approved Brij Fintech Ghana, a licensed Payment Service Provider (PSP), to pilot BrijX—a B2B Currency Swap Platform—within its regulatory sandbox program.
The Bank of Ghana stated that while MTN MoMo is not authorized for cross-border transactions, the BrijX pilot is a regulated initiative aimed at revolutionizing digital payments across the region.
“Bank of Ghana has observed media reports suggesting that MTN Ghana has been licensed for cross-border transactions with MTN Nigeria. The Bank clarifies that MobileMoney Limited, the operator of MoMo from MTN, has not received any licensing or authorization for cross-border transactions,” the statement clarified. BrijX is designed as a digital marketplace for direct currency exchanges between the Ghanaian Cedi and the Nigerian Naira, eliminating the need for forex transactions or physical money transfers across borders.
The platform partners with banks, mobile money providers, and licensed PSPs to facilitate seamless currency exchanges.
The BoG emphasized that the BrijX pilot, which began live testing in February 2025, includes MTN MoMo users and will soon extend to G-Money users.
However, the pilot operates under strict regulatory measures, including transaction limits, a cap on the number of participating customers, a defined testing period, and full adherence to Anti-Money Laundering (AML) and Know Your Customer (KYC) regulations.
The BoG stated that upon the pilot’s conclusion, it will evaluate the results to determine whether the BrijX model complies with Ghana’s financial regulatory framework and future policies.
The bank reiterated its commitment to safe, efficient, and affordable cross-border payment solutions, especially within Africa.
The BoG assured stakeholders that it will continue to explore innovative regulatory frameworks to improve financial services while ensuring strong consumer protection measures.
