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Wireless

Nigerian central bank considers allowing mobile money services to transfer cash

Wednesday 9 January 2019 | 10:35 CET | News
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The Nigerian government is preparing rules that will allow mobile phone operators to transfer cash, softening a previous policy that protected banks, Bloomberg reported. The central bank may have realised it cannot rely on lenders alone to achieve its objective of extending services to the 50 million adults still without a bank account in the nation of about 200 million people, said the news agency. Telecommunications firms including MTN are interested in applying for licences that will allow them, and even supermarket chains, to create units that can collect deposits and maintain savings

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Categories: Mobile & Wireless
Countries: Nigeria
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