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Mobile money: CBN tasked on telecommunications-driven approach
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Mobile money: CBN tasked on telecommunications-driven approach

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Image result for CBN Mobile moneyThe Central Bank of Nigeria has been advised to adopt a telecommunications-driven approach through mobile money to drive its financial inclusion strategies targeted at SMEs or the unbanked population.

United Nations Special Envoy on financial inclusion Queen Maxima disclosed this during a visit to the CBN headquarters in Abuja on Thursday as a means of supporting Nigeria to reduce its financial exclusion rate.

But CBN Governor, Godwin Emefiele said the country is being cautious in shifting from a bank-led to a telco-driven approach to mobile money due to certain challenges.

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